More than 140 sacco chief executive officers have completed a three-day training on business development during their annual summit held in Naivasha last week.
CIC Insurance #ticker:CIC Group CEO Tom Gitogo, whose firm sponsored the summit, said that sacco leaders must sharpen their skills in order to keep up with the pace of change and competition that characterised the financial sector.
“Innovative business development is an integral part of the success of co-operatives as they struggle to remain afloat in the face of challenges brought about by increased competition”, said Mr Gitogo.
Since 2012, CIC has been sponsoring the annual summits under different themes as a way of giving back to co-operatives, which form the bulk of its clientele.
CIC Insurance Group is in turn 74 per cent owned by co-operatives, with the remaining 26 per cent of its shares listed on the Nairobi Securities Exchange (NSE) spread across a number of mainly individual investors.
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