Ekeza Sacco CEO Jimmy Kagoni resigns

Ekeza Sacco Chief Executive Officer Jimmy Kagoni is stepping down.

In a statement on Friday, Kagoni confirmed he had already notified the Board of Directors of his intention.

It has been both a humbling and gratifying experience to work as the CEO of Ekeza Sacco since my appointment by the Government of Kenya, State Department for Cooperative Development through the Office of the Commissioner for Cooperative Development in September 2020,”Kagoni said.

My mandate was to assist in the recovery of the Sacco after it experienced various challenges that haunted its operations in 2017. Among my responsibilities and accomplishments as I bow out include: The restructure of the Sacco’s operations – The inquiry report done by the office of the commissioner detailed that the Sacco lacked good structures, proper financial records, HR policies and effective ERP, he added.

In his words, Kagoni said he leaves the Sacco fairly functional and well structured to carry out business.

He said the Sacco has refunded a total of KES 1,271,909,260 in form of land, cash and offsets to more than 20,000 members with only KES 557,609,035 remaining as outstanding refunds.

“I am happy to report that the Sacco has had a steady comeback in its operations and is geared towards gaining back its strong position. As my parting shot, I would like to thank the Office of the Commissioner and the Board for their incredible support in rebuilding the Sacco,” he added.

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