At the 3rd annual innovation seminar held by Stima Sacco at the Stratmore Business School in Nairobi, Metropol Corporation Group Managing Director (GMD) Sam Omukoko shared his wealth of knowledge on business innovation and credit markets.
Sam emphasized the dynamic nature of the credit market, noting that innovation is a constant force driving change in how customers access and utilize credit. He pointed out that customers naturally gravitate towards institutions that offer better credit terms, as the conditions under which money is lent are pivotal in their decision-making process.
The Entrepreneurial Spirit
According to Sam, entrepreneurs must remain resilient, refining and improving their concepts to keep the credit market competitive.
“Innovation is an ongoing journey, not a destination. Ideas, whether fully realized or not, are the seeds of progress. Entrepreneurs must remain resilient, continually refining and improving their innovative concepts. It is this relentless pursuit of innovation that propels businesses forward and keeps the credit market vibrant and competitive,” said Sam.
Metropol’s Diverse Business Units
As the founder of Metropol Corporation, a leading business information company in East Africa, Omukoko has been at the helm of Metropol, driving growth and setting industry standards.
Metropol Corporation encompasses several units, including, Metropol Credit Rating Agency (MCRA), Metropol Credit Management Service (MCMS), Metropol CRB (MCRB), SMECAA, Business Information Reports Bureau (BIR), Metropol Institute of Credit Management and Metropol TV Digital.
These subsidiaries collectively contribute to the robust financial ecosystem that Metropol has cultivated, offering comprehensive credit solutions to a diverse clientele.
Stima Sacco’s Pioneering Innovations
Since its inception in 1974, Stima Sacco has been at the forefront of innovation in Kenya’s financial sector. It boasts several firsts, including the launch of instant ATM services, being the first Deposit-Taking Sacco licensed by Sacco Societies Regulatory Authority (SASRA), and introducing a Shariah-compliant product line.
Stima Sacco introduced an Agency Banking initiative called “Stima Sacco Mlangoni” with an aim to make services more accessible to its members, enhance financial inclusion, and expand its customer base by ensuring service availability.
Abojani’s Digital Finance Revolution
Robert Ochieng, co-founder and Chief Executive of Abojani, gave insights into the achievements of the digital-first personal finance management platform since its inception in 2020.
Abojani aims to cater to the unique needs of busy professionals and entrepreneurs, offering personalized financial advice. Ochieng’s vision is to make personal finance accessible and tailored to each individual’s learning style and requirements.
“It is our mission to create quality resources and tools at Abojani to ensure you can improve your financial life at an affordable price,” said Ochieng.
The seminar was a testament to the spirit of innovation that drives Kenya’s financial sector, promising a future where financial services are more accessible, personalized, and attuned to the needs of the customer.
The Seminar is an Annual Delegates Conference where the Sacco brings together its delegates from all over the country for capacity building and exchange program.