Stima banks on new CEO to drive up its profits

Mr Gamaliel Hassan, the new Stima Sacco managing director. 

Photo credit: File | Nation Media Group

What you need to know:

  • Mr Hassan, a career economist and certified public accountant replaces Mr Chris Useki who served as the micro-lender’s CEO from August 2017 to July this year.
  • The board of directors looks forward to Dr Hassan leading and driving the sacco agenda to the next level including meeting and exceeding stakeholders and member expectations.
  • Stima sacco has 131,616 members and nine branches spread across Nairobi (three), Mombasa, Kisumu, Nakuru, Olkaria, Eldoret and Embu.


Stima Sacco confirmed a new chief executive at a time the micro-lender is seeking to turn around its fortunes amid the coronavirus pandemic.

Mr Gamaliel Hassan, former chief manager in-charge of strategy and business takes over the corner office of the sacco ending nearly two months where he has held the position in an acting capacity.

Mr Hassan, a career economist and certified public accountant replaces Mr Chris Useki who served as the micro-lender’s CEO from August 2017 to July this year.

Driving the sacco agenda

The new chief executive officer will be tasked with spearheading innovative credit facilities at time banks and micro-lenders are grappling with the coronavirus-related hardships that have hurt borrowers’ ability due to lay-offs, salary cuts and depressed earnings.

“The board of directors looks forward to Dr Hassan leading and driving the sacco agenda to the next level including meeting and exceeding stakeholders and member expectations,” said Rebecca Miano the national chairperson of Stima Sacco’s board.

Stima sacco has 131,616 members and nine branches spread across Nairobi (three), Mombasa, Kisumu, Nakuru, Olkaria, Eldoret and Embu.