Mombasa-based microfinance institution Ports Sacco has opened a new branch at the Inland Container Depot (ICD) in Embakasi in Nairobi.

Further, the Sacco will be expanding across 47 counties soon.

Commissioner of Cooperatives David Obonyo said Ports Sacco’s microloans will benefit Small and Medium Enterprises (SMEs) in the capital city.

“The Ministry of Co-operatives is fully behind their operations that will see them participate in the development of the growth of both welfare and uplifting people’s standards in Nairobi County,” Obonyo said.

Ports Chief Executive Officer (CEO), Dedan Ondieki, said that the lender will invest in technologies to improve customer service.

”We are excited about what the future holds for Ports Sacco and are confident that the opening of the Nairobi ICD branch will serve as a gateway to our efforts to forge further inland and serve more members wherever they are with Equity, Consistency and Care,” said Ondieki.

The Sacco industry contributes 45 per cent of the national GDP, directly and indirectly, and 30 per cent of national savings and deposits.

Ports Sacco, which has existed for the past 57 years, recently relaunched and rebranded to Ports DT Sacco from Mombasa Port Sacco.