Biashara SACCO Society Ltd was registered on 31st December, 1990, by the Ministry of Co-operative Development and Marketing under the Co-operative Societies Act, Cap 490. It was registered after the far sighted vision of the members of the Kenya Natural Chamber of Commerce and Industry (KNCCI), Nyeri Branch.
It was registered out of felt need by the business community to come up with a micro finance institution, to take care of their unique financial needs. Being businessmen with access to financial services from the banks operating in this region did not deter them. There was a strong felt need that the business community should assert some independence from other peoples financial institutions, by coming up with their own.
This driving force was very strong and has resulted in one of the best traders SACCO Society anywhere in the country. This society is therefore not only a best practice in the greater Nyeri District, but a good example to be emulated by traders from other branches of KNCCI.
To date, this society has a membership of about 42,000 members and a total asset base of Kshs.623million in 2014, up from Kshs.509million in 2013. Last year, the SACCO made a record profit of Kshs.35million up from Kshs.25million made in 2013.