Based at its headquarters in Kilifi County, Imarika Sacco has experienced robust growth, closing its latest financial year with highly competitive metrics.
Imarika Sacco’s Quick Facts File
| SACCO Official Name | Imarika Sacco |
| Primary Target Sector | Community/Agribusiness |
| Head Office | Kilifi |
| County | Kilifi |
| Postal Address | P.O. Box 712-80108 |
| Regulatory Tier | Tier 1 |
| Total Assets (Ksh B) | 14.57 |
| Total Deposits (Ksh B) | 9.35 |
📊 Imarika Sacco’s Financial Performance & Profile
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Total Asset Base: Grew to KES 16.1 billion, positioning it side-by-side with other elite Tier-1 institutions like Invest & Grow (IG) Sacco.
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Total Turnover/Earnings: Reached KES 2.488 billion (a 10% year-on-year increase from KES 2.268 billion in 2024), driven primarily by interest generated from credit facilities.
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Loan Portfolio: Loans and advances to members jumped to KES 13.99 billion, surpassing their projected target of KES 13.93 billion.
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Member Deposits: Increased steadily to KES 10.5 billion.
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Share Capital: Surpassed expectations by growing to KES 1.16 billion against a targeted KES 1 billion, heavily aided by aggressive member capital drives.
🏛️ Imarika Sacco’s Leadership & Governance
The leadership team has integrated new administrative personnel over the last year to anchor its operational efficiency and regional expansion goals:
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Board Chairman: John Ziro
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Vice Chairman: Shariff Shehe
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Chief Executive Officer (CEO): George Yongo Ngala
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Key Management Transitions: The executive branch recently onboarded George Makuri as the new General Manager of Operations, Carol Agutu as Sales and Marketing Manager, and Elminah Magesho to head the highly active Imarika Foundation.
💻 Imarika Sacco’s Strategic Innovations & Digital Transformation
Imarika Sacco is progressively deploying digital-first platforms to enhance member onboarding and transaction turnaround times:
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Enhanced Mobile Solutions: Focus has leaned into expanding the Sacco’s mobile banking applications, driving up the FOSA salary advance ceiling to KES 150,000 to improve immediate cash accessibility for members.
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Member Portal & Agency Banking: Implementation of a dedicated self-service portal alongside localized Sacco agencies to minimize foot traffic at main branches.
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Share Drives & Mitigation: Utilizing structural risk-mitigation policies to shield member savings from broader economic inflation while running continuous member-education campaigns to reactivate dormant accounts.
🛍️ Imarika Sacco’s Core Products & Community Impact
Imarika utilizes distinct savings sub-structures to appeal to specific demographics within the market:
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Malaika Junior Account: A structured savings vehicle focused on securing children’s education futures while building early thrift habits.
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Micro-Credit & Informal Sector Support: The Sacco has gained significant traction at the coast and beyond for creating specialized asset financing—such as their targeted Boda Boda loans—enabling self-employed individuals to easily acquire revenue-generating tools.
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Imarika Foundation: The corporate social investment arm heavily involved in funding local health initiatives, environmental sustainability, and agricultural development programs.
Imarika Sacco’s Frequently Asked Questions (FAQs)
Imarika Sacco (formerly known as Kilifi Teachers Sacco) is a well-established, regulated Tier-1 Deposit-Taking Sacco in Kenya. Originally founded in 1974 by teachers in Kilifi, it has since opened its common bond to become a major financial institution serving members across the coastal region and the entire country.
Below is a comprehensive breakdown of the Frequently Asked Questions (FAQs) regarding membership, savings, mobile banking, and credit facilities at Imarika Sacco.
👥 Imarika Sacco’s Frequently Asked Questions (FAQs) on Membership & Account Opening
1. Who can join Imarika Sacco?
The Sacco has an open common bond. Membership is open to the general public, including:
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Teachers (TSC, private schools, and colleges).
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Civil servants and county government employees.
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Salaried employees from the private corporate sector.
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Business owners, micro-entrepreneurs, and farmers.
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Investment groups (Chamas) and corporate bodies.
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Members living in the Diaspora.
2. What are the Imarika Sacco’s requirements for joining?
To open an account, you will need to submit:
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A completed Membership Application Form (available at branches or on their website).
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A copy of your National ID card or valid Passport.
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A copy of your KRA PIN certificate.
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Recent passport-sized color photographs.
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Proof of income (e.g., your latest payslip for salaried individuals or business documents for entrepreneurs).
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A nominal membership registration fee.
3. Can I remain a Imarika Sacco’s member if I change or lose my job?
Yes. Once you join Imarika Sacco, you can retain your membership indefinitely, provided you maintain your account and continue making your required regular monthly contributions.
4. What is the difference between Share Capital and Member Deposits?
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Share Capital: This represents your equity/ownership stake in the Sacco. It is non-refundable if you choose to exit the Sacco, but it can be transferred or sold to another active member. Share Capital earns annual dividends.
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Member Deposits (BOSA Savings): These are regular monthly contributions used as a base multiplier to determine your borrowing threshold. They are refundable upon resignation from the Sacco (after clearing any outstanding loan balances and liabilities). Deposits earn annual interest (rebates).
🏦 Imarika Sacco’s Frequently Asked Questions (FAQs) on FOSA & Savings Accounts
1. What is an Ordinary Savings Account?
Every individual joining Imarika Sacco is required to operate an Ordinary Savings Account via the Front Office Services Activity (FOSA).
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It features a minimum account balance of Ksh 1,000.
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It can be utilized as a salary processing account.
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Account transaction charges and standing orders are processed directly from this account.
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Balances of Ksh 5,000 and above earn competitive interest. It can be accessed via Sacco Agency networks, Mobile Banking, and a VISA ATM card.
2. What other specialized savings accounts are available at Imarika Sacco?
Imarika Sacco offers tailored savings options to suit different financial goals, including:
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Malaika Junior Savings Account: Structured to help parents build long-term savings for their children’s education and future.
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Holiday Savings Account: Designed for members wishing to pool funds incrementally for vacations, festive seasons, or special celebrations.
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Fixed Deposit Account: Tailored for members looking to lock a lump-sum amount over a specific timeframe to maximize interest returns.
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Weka na Ujipange / Jipange Savings: Purpose-driven accounts meant to systematically accumulate wealth for specific investment goals.
📱 Imarika Sacco’s Frequently Asked Questions (FAQs) on Mobile & Digital Banking
1. What are the official USSD codes for Imarika Sacco?
Imarika Sacco’s mobile banking system (SpotCash) allows members to transact securely from any mobile handset. You can dial either *645# or *440# to access your account dashboard.
2. What transactions can I perform via Imarika Sacco mobile banking?
Through the USSD service and mobile features, you can check your account balance, request mini-statements, withdraw cash to M-Pesa, transfer funds, pay utility bills, and access instant mobile micro-advances (Mtandao Loans).
3. What is the official Imarika Sacco M-Pesa Paybill number?
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Paybill Number: 4404404
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Account Name/Format: Input your specific member or account number (or follow specific instructions provided by customer care for specific BOSA/FOSA splits).
💰 Imarika Sacco’s Frequently Asked Questions (FAQs) on Loans & Credit Facilities
1. How much can I borrow, and what determines my limit at Imarika Sacco?
For standard Back Office (BOSA) development and premium loans, your borrowing limit is generally capped at up to 3 times your total accumulated deposits. Your ultimate limit is heavily determined by your proven repayment ability, income trends, and the 2/3rds net salary rule for check-off employees.
2. What are some of the primary loan products offered at Imarika Sacco?
Imarika Sacco hosts a diverse range of loan facilities structured across its BOSA, FOSA, and Micro-credit arms:
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Development & Premium Loans: Long-term credit lines meant for property acquisition, asset building, or project financing.
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Emergency & Swift Loans: Tailored for unforeseen challenges like medical bills, court cases, or sudden natural events, featuring a rapid 12-month maximum repayment period.
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School Fees & ScholarPlus Loans: Loans designed explicitly to finance secondary, college, or university education expenses.
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FOSA Advances & Mtandao Loans: Short-term, rapid-turnaround cash advances tailored to bridge temporary cash flow gaps before payday.
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Boda Boda / Asset Loans: Niche asset financing aimed at boosting entrepreneurial mobility and micro-enterprises.
3. What options can I use as security/collateral for an Imarika Sacco loan?
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Guarantorship: Fellow Imarika Sacco members who agree to pledge their internal deposits as security for your loan balance.
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Self-Guarantee: Permissible only if the requested loan amount falls within or equals your own free, unencumbered member deposits.
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Tangible Assets: For large-scale asset and property financing, the Sacco accepts legal charges over assets like Title Deeds and motor vehicle logbooks.
📞 Imarika Sacco’s Frequently Asked Questions (FAQs) on Branches & Contacts
Where is Imarika Sacco located?
The main headquarters is located at Imarika Plaza, Charo Wa Mae Road (Opposite Baobab Building), P.O. Box 712-80108, Kilifi, Kenya.
They operate an established branch and service center network, primarily across the coastal region:
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Kilifi County: Kilifi (Head Office), Malindi, Mtwapa, Mariakani, Kaloleni, and Bamba Service Center.
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Kwale County: Ukunda Branch.
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Mombasa County: Mombasa Branch (Kengeleni Business Center, Opposite Kongowea Market).
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Tana River County: Garsen Branch.
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Lamu County: Mpeketoni Branch.
Imarika Sacco’s Frequently Asked Questions (FAQs) on Official Contacts:
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Mobile / Phone: +254 726 007037 / +254 709 578 000
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Email: [email protected] / [email protected]
Is Imarika Sacco Registered by SASSRA?
Yes. The Sacco is registered by the SACCO Societies Regulatory Authority (SASRA) as a Deposit Taking Sacco.
What is the Imarika Sacco’s Tier?
The Sacco is registered by the Sacco is registered by the SACCO Societies Regulatory Authority (SASRA) as a Tier 1 Sacco.
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