At a Glance
- SACCO: Rachuonyo Biashara SACCO
- Region: Homa Bay County
- Challenges: Stagnating membership growth, limited transparency, reliance on paper copies, complex loan processes, and ineffective marketing outreach.
- Solution: Partner with Kwara
- Results:
- Membership surged from 190 to over 400.
- Deposits grew from Kenyan shilling 189,000 to 900,000.
- SACCO award at Ushirika Day.
- Instant loan processing and approval without the need for physical office visits.
- Enhanced transparency and trust with members through digital access to their financial data.
About Rachuonyo Biashara Sacco
Founded in 2021, Rachuonyo Biashara SACCO’s mission is to provide transparent and efficient financial services to its members. Despite its strong foundation, it faced significant hurdles in member outreach, transparency, and efficient loan processing.
Challenge
Marketing their services was hard. Reaching potential members and convincing them of the SACCO’s value proved challenging in the SACCO’s early days. The dependency on hard copies made their processes time-consuming and expensive. Transparency was another issue, with members hesitating to deposit due to a lack of clear financial visibility. Additionally, the SACCO needed to overcome delayed remittances and loan processes that were inconvenient for remotely located members.
Solution
A partnership with Kwara provided the solutions Rachuonyo Biashara SACCO was searching for:
- Enhanced Marketing Outreach: With Kwara’s system, real-time information could be sent directly to members, boosting SACCO’s marketing efforts.
- Unparalleled Transparency: Kwara’s platform empowered members with clear, accessible balances and statements, leading to greater trust.
- Digital Transformation: Moving away from paper, Kwara’s system improved operational efficiency and reduced costs.
- Instant Loan Processing: Members could now secure loans anytime, from anywhere, without the need to visit the SACCO office.
We fell in love with the system on day one
Suleiman Feisal, Secretary of the SACCO
Results
The impact of Kwara on Rachuonyo Biashara SACCO was clear within a few months of launch:
- The SACCO’s membership skyrocketed from 190 to 400.
- Deposits surged from 189K to over 900K, proving enhanced trust and engagement from members.
- The SACCO won the Most Digitized SACCO award at Ushirika Day.
- The administrative process, especially report generation, became swift and efficient.
- Member feedback on the mobile app was overwhelmingly positive, noting its ease of use.
What I find most useful is that pulling reports is very easy.
Suleiman Feisal, Secretary of the SACCO
Looking to the Future
With ambitious plans for the future, Rachuonyo Biashara SACCO aims to serve at least 30,000 members from the Rachuonyo region’s population of over 120,000. And with Kwara by their side, these aspirations are set to become a reality.
