Brief History
Muramati SACCO Society Limited was registered on 14th May 1993. It's registered office is in Murang’a town. It was registered as a body corporate on 31st May 1994. Since its inception, the SACCO has changed its name three times to adapt to the changing administrative and economic changes in its areas of operation. Initially it was registered as Murang’a Tea Growers SACCO Society Limited catering for tea farmers in the larger (original) Murang’a district. It changed to Muramati Tea SACCO Society Limited in 1997 so as to cater for its members in Murang’a, Maragua & Thika districts which were curved out of the larger Murang’a district. On 6th September 2007, the SACCO adapted its current name ‘Muramati SACCO Society Limited’ and started serving other members including all classes of business people, investors, & savers. ”Muramati” is an acronym which symbolizes stewardship, confidence, care & being someone else’s keeper.
The Society was steered and promoted by the members of KTDA, mainly consisting of the tea factory directors, tea board members and tea officers at the zonal level. The drive to form the society was based on the need to provide tea farmers with the express aim of pooling together their resources to create a strong credit base and use it for on-lending to members at minimal cost.
The promoters and stakeholders had a vision of transforming the Sacco by providing FOSA services and credits to its members at affordable rates.
The SACCO started with only one branch at Murang’a town while reaching out to its members in the district through mobile points. It opened its second branch in 1999 and currently has eleven (11) functional branches and 16 mobile points with an overall membership of over 60,000 and close to Kshs 2 billion in assets. Muramati has grown to be among the leading SACCO’s in the region.
Corporate Governance
The governance structure of the SACCO consists of 135 delegates, 3 members of the supervisory committee and 9 members of the central management committee. The delegates are drawn from 9 electoral areas, each represented by 15 members, three of whom must be women. All the members of the supervisory committee are men but the central management committee has two ladies in line with our affirmative values.
The SACCO has 20 management staff headed by a General Manager. Our corporate governance is guided by a code of ethics, strict election procedures including screening of background, management meetings on timely basis, transparent human capital development & strict observance of co-operative act & by-laws.
Membership/Ownership
The SACCO has opened the common bond to include salaried employees, SACCO staff, business persons & general public as members.
Positioning
Muramati Sacco has repositioned itself with a focus of attracting new business by targeting Small & Micro Credit Enterprises (SME’s) as well as the existing member base. Muramati is keen to recruit new members and design tailor made products for the MCE’s as part of its campaign to attract new business. Also, as part of it's positioning strategy, Muramati Sacco expects to extend its products range and services to the national level. In line with this, Muramati has undertaken an ambitious ICT platform that will improve services delivery to its clientele such as Bio-metrics, ATM’s, SMS banking & e- Banking.
Our commitment
- Quickly attend to all customers’ queries and requests in all our branches.
- Quality and consistent services including our mobile pay points round the season.
- Efficient, courteous, impartial and friendly service.
- Utmost confidentiality and privacy.
- Reasonable care to all documents forwarded to us.
