Is a result of our dream. We have a vision of
economically empowering the body of Christ. We believe that this is the way
our ministry can teach the word, do the work and touch the world without
compromising our Godly given standards.
Bethesda Sacco’s future is to be a financial
institution registered and functioning in accordance with the terms and
conditions of Central Bank of Kenya. The SACCO is registered by the Kenyan
government certificate no 11192 Act No. 2 of 2004.
The institution draws membership from Bethesda
fraternity i.e. Christian and bible training college, churches, individual
members and the neighboring community.
To date, the SACCO has over 135 active members and
first loans in accordance with the loaning policy was issued in February
2007.
The biggest challenge is finances to boost the share
capital. The annual general meeting resolved to borrow 10 million on an
interest of 6% p.a. with a grace period of 6 months, for lending to members
at an interest rate lower than the market value.
The demand for loans has since January 2007 been five times the
savings. The Sacco wishes to borrow $50,000 at 3% per annum to meet
this demand.
