Co-op Bank achieves Nine billion Profit (Before Tax) between January and April 2024

Co-op Bank is pleased to report a Profit Before Tax of Kshs.9.01B for Q1 2024, a commendable 10.6% growth compared to Kshs. 8.15B recorded in Quarter 12023.

This represents a Profit after Tax of Kshs.6.5B compared to Kshs.6.11B reported in 2023.

The strong performance by the Bank is in line with the Group’s strategic focus on sustainable growth, resilience and agility.

Key Performance highlights:

Financial Position

The Group has registered strong growth as follows:

  • Total Assets grew to Kshs.714.7B, a 13.2% growth from Kshs631.1B in the same period last year.
  • Net loans and advances grew to Kshs.378.1B, a 5% growth from Kshs.360.1B in 2023.
  • Customer deposits grew to Kshs.481.8B, a 14.8% increase from Kshs. 419.8B.
  • External funds from development partners grew to Kshs.60.1B from Kshs.48.4B in 2023.
  • Shareholders’ funds have grown to Kshs.127.1B, a 12.9% increase from Kshs.112.6B in 2023.

Comprehensive Income

  • Total operating income grew by 5.1% from Kshs.17.9B to Kshs.18.8 B.
  • Total non-interest income remained stable to stand at Kshs.7.1B similar to performance recorded a year ago.
  • Net interest income grew by 8.6% from Kshs 10.8B to Kshs 11.7B in 2023.
  • Total operating expenses increased marginally by 0.5% from Kshs 9.8B to Kshs.9.9B.

Cost Management

The Group reports excellent efficiency gains from the various intiatives to record a Cost-to-Income Ratio of 44.1% in Q12024 from 59% in FY2014 when we began our Growth & Efficiency journey.

A Strong Digital Footprint

A New Core Banking System, presenting opportunity for growth and enhanced efficiency.

  • The Bank continues to leverage the new core banking system (latest version of Finacle from Infosys, one of the best-rated platforms globally), to support the Group’s digital synergy.
  • The system will further enhance service excellence and provide innovative and advanced banking solutions.
  • Through our digital channel strategy, the Bank has successfully moved over 93% of all customer transactions to alternative delivery channels, a 24-hour contact centre, 605 ATMs & Cash Deposit Machines (CDMs), mobile & internet banking and over 16,000 network of Co-op kwa Jirani agents.
  • Our Omni-channel platform continues to offer users accessibility and enhanced experience. The platform interfaces online banking through personal computers, mobile phones and USSD availing our services to all customers through their preferred channel yet retain the same user experience from wherever they are.
  • MCo-op Cash Mobile wallet continues to drive substantial non-funded income streams with Kshs18.1B in loans disbursed in Q12024, averaging Kshs.6.0B per month.
  • Over 214,000 customers have taken up the MSME packages we rolled out in 2018, and 60,850 have been trained on business management skills. In Q12024, we disbursed Kshs.3.9B to MSMEs through our Mobile E-Credit solution.
  • MSMEs make up 15.6% of our total Loan Book.

Our unique model of retail banking services avails access to cash for FOSA operations, enabling 484 FOSA outlets to support over 15M Sacco members access banking services even in rural/remote areas.

Wide and Expanding Branch Network

The Branch network has expanded to a total of 195 outlets (4 in South Sudan). We have planned 15 additional outlets in 2024 – with 2 at lmaara Mall on Mombasa Road-Nairobi and Ugunja in Siaya already opened.

Our Subsidiary, Kingdom Bank, opened a new Branch in Gikomba, aligning perfectly with the Bank’s strategic vision to serve markets where Kingdom Bank has niche expertise notably MSMEs.

A Growing Team

The Bank continues to invest in a competitive team set to serve existing functions at the same time tap new growth opportunities across all areas of the business.

Staff numbers have grown from 4,864 as at the close of 2022 to 5,361 – creating job opportunities for over 497young people.

Subsidiaries

  • Co-op Bancassurance Intermediary Ltd posted a Profit Before Tax of Kshs.305M in Q12024, riding on strong penetration of Bancassurance business.
  • Co-operative Bank of South Sudan that is a unique joint venture (JV) partnership with Government of South Sudan (Co-op Bank 51% and GOSS 49%) made a Profit BeforeTax of Kshs.128.5M in Q12024 compared to a loss of Kshs.71.4M in Q12023.
  • Co-op Trust Investment Services Ltd contributed Kshs.75.5M Profit Before Tax in Q12024 compared to Kshs.51.2M in Q12023, a 47.6% growth. The Subsidiary has Funds Under Management of Kshs.227.2B.
  • Kingdom Bank Limited (AnicheMSME Bank) contributed a Profit Before Tax of Kshs.350.3M in Q12024, a remarkable growth of 33.9% fromKshs.261.5M reported in Q12023.

Long Term Financing: Women-owned/managed MSMEs

The Bank has secured a long-term loan of $25M from DEG – a subsidiary of KfW Group, for micro, small and medium-sized enterprises (MSMEs) that are managed or owned by women.

This is aligned to the Bank’s contribution to the achievementof the global Sustainable DevelopmentGoals (SDGs).

Commitment to Sustainability

In 2022, the Bank embarked on an enhanced Environmental, Social and Governance(ESG) road map to integrate ESG considerations into its operations with several key milestones achieved.

The Bank’s commitment to ESG excellence was celebrated at the 2023 Kenya Bankers’ Sustainable Finance Catalyst Awards, with the bank emerging as the Overall Award Winner.

This was the fourth win by the Bank since the inception of the award six years ago.

Co-op Bank Foundation, the Group’s social investment vehicle, continues to provide Scholarships to gifted but needy students from all regions of Kenya.

The sponsorship includes fully paid secondary education, full fees for University education,Internships,and career openingsfor beneficiaries.

The foundation is fully funded by the bank and has supported 10,264 students since the inception of the program.

Conclusion

The Co-operative Bank Group continues to pursue strategic initiatives that focus on resilience and growth in the various economic sectors.

This is anchored on a successful universal banking model supported by an innovative digital presence, a wide physical footprint, and the unique synergies in the over15-million-member co-operative movement that is the largest in Africa.

We are you.

High School Chronicles: My First Nerve-wracking Public Speaking Experience

I was generally a shy kid. Unless I was around close friends and family, speaking was something I had to think about – never mind public speaking.

I dislike being in the spotlight, but I have met introverts who’ve managed to excel in related engagements – teaching, preaching and singing.

It happened during my first week in high school.

Now, oblivious to me – my admission had elicited a lot of interest. I was the poster boy for the classic ‘you-can-achieve-anything’ narrative.

I had attended a rural day-primary school, running a mile to and fro on a daily basis, and, yet – managed to secure entry marks to a prestigious national school.

My grades had also qualified me for a four-year scholarship, thanks to the Co-op Bank Foundation.

The school held an assembly once a week – on Fridays’.

First, I was shocked by the sheer number of students. Rows and rows of neatly starched collars, blue blazers and khaki trousers.

The captains stood in a separate line on the right-hand side, with their emblazoned notebooks. I felt as insignificant as a grain of sand on a long beach.

The principal’s main topic was, of course, us – the new students. I did not pay much attention to the speech. I was busy scanning the students, trying to see if there’s anyone familiar.

At some point, the boy next to me elbowed me in the ribs: “Hey, the principal is calling your name…” I was stunned.

I slowly made my way to the front. I could feel the inquisitive bore of a thousand eyes on the back of my neck. I approached the podium. It was all-glass, much like we had at our local Catholic church.

My exact thought at the moment was that everyone would see if I peed on myself!

The Principal hands over the (mic), and says: “Introduce yourself, master…”

I was lost. First, I didn’t have a clue on the line of conversation before I was summoned. What do I talk about? Will they not laugh at my village accent?

Ha, I remembered that am the Firstborn Son of Nkanata, and Great-great-great grandson of Field Marshal Mwariama – the famed Mau Mau fighter.

“My name is…… “

I couldn’t go on. I was visibly shaking, heart racing a thousand beats to a minute.

Suddenly, I was aware of the silence – pin drop silence. I wasn’t a famous guy in class or anything. In the two days we’d been there, I had hardly made any friends or spoken much to anyone. I had largely kept to myself.

“Just tell them where you come from, why you are here and what you want to be in future…” The Principal says.

I do not remember much, other than racing through the particulars of my locality, an aspiration to be a top performer in class and that other surreal dream to be a software engineer.

The former remained constant throughout my high school stint, but the latter would mutate several times. Goals and ambitions are pretty ambiguous for a teenager, I guess!

Three decades later, I’m escorting my firstborn daughter to school. She’s joining Secondary School. The motions at admission are pretty much the same, except for the financial bit that has turned cashless. No one is lining up at the bursar’s office!

All I have with me are receipts from a Co-op Kwa Jirani agent. I conveniently paid my daughter’s school fees at the local grocery shop!

After handing over the receipt to the school’s accountant, I was preparing to give my daughter some pocket money, a luxury I didn’t have.

Just as I was about to hand her the cash, the accountant said,” You know this generation doesn’t handle money like we used to,”

All parents in the room were confused wondering who he was talking to.”

“Our school uses Co-op prepaid cards. This is a Visa pre-paid card which you can load upfront and give your child to shop at the school canteen which has a machine for swiping.

“You can load the card from anywhere, anytime via Mpesa pay bill 400222 or the nearest Co-op Bank branch.

Students can also withdraw cash while going home, from our school Co-op Agent, “they make the use and tracking of pocket money much better and safer than physical cash.

Incase card is depleted you can to up your child’s pocket money from anywhere you are through the MCo-opcash app or deposit with you nearest Coop Kwa Jirani agent.”

On school closing days, school trips or on occasions that a student needs cash he or she can widthraw cash at any Co-op ATM’s across the republic.

It’s a real game changer. Oh, one does not need to be a Co-op Bank customer to get the card.

All the parents present, me included, were all sold on the idea almost immediately.

Co-op Bank announce opening of 7 new branches for deeper reach

Co-operative Bank of Kenya has bucked the industry trend where several lenders have rolled back their brick and mortar footprint, and is expanding physical outlets to add onto the current 173 branches in Kenya.

Seven new Co-op Bank branches are underway in carefully-selected locations namely Kamakis on Nairobi’s Eastern Bypass, Kabarnet, Iten, Moyale, Mwiki/Kasarani, Bunge at the new Parliament Tower in Nairobi and Kamulu in Nairobi Eastlands that opened doors in December last year.

Director Retail & Business Banking William Ndumia presents a gift to Mr. who was the first client to open an account after the official opening of Co-op Kamulu branch Mr Joseph Kimathi Ndegwa . Looking on is the bank's Head of Branch Banking Peter Kirugu.
Director Retail & Business Banking William Ndumia presents a gift to Mr. who was the first client to open an account after the official opening of Co-op Kamulu branch Mr Joseph Kimathi Ndegwa . Looking on is the bank’s Head of Branch Banking Peter Kirugu.

The expansion of brick and mortar presence will complement the bank’s robust Digital Banking channels that continue to grow in popularity to now handle over 90% of customer transactions, with Mco-opCash mobile wallet having registered 5.3 Million users and disbursed Kshs 51.3 billion in loans as at the close of the third quarter of last year, averaging Kshs. 5.7 Billion per month.

 

The decision to determine need and location of new branches is determined through rigorous market research.

The new branches do not typically increase staff headcount as they are usually staffed from existing teams, following the branch transformation and digitization program implemented under the Soaring Eagle project that has enabled agile resourcing of the business.

Banks have been making cost savings by rolling back their branch network as some customers prefer to use online banking services, what informs the decision to buck this trend and open new branches?

First, selection of branch sites is always supported by rigorous market research to ensure viability, for which reason we’ve never closed a branch in our 50-year history.

Co-op Bank’s new branches give us an insight into emerging centres of economic activity that are currently underserved by banks.

Second, we believe there is no one single channel that will displace all others, rather, it’s the investment in an optimal and balanced multichannel strategy that will offer a fulfilling experience to the customer.

The emerging theory that bank branches and ATMs will cease to exist is largely wishful thinking driven by desires to cut brick and mortar costs, and not by credible customer feedback on the service outlets through which customers prefer to be served.

Whilst some customers will do some transactions online or on cellphone, a significant section of customers will always prefer to engage a bank through a physical branch, especially for certain services, for a long time to come.

Third, Co-op Bank branches are Service Hubs, as they serve not just own customers, but also service the bank’s subsidiary network including Saccos especially those running FOSAs now numbering 479 countrywide, and 23,000 bank agents who depend on our cash management services, training and supervision to run.

How can we have a viable bank agency network or Fosas when the nearest bank branch is say over 50 kms away?

Four, for Co-op Bank a branch is not just a transactional point, it’s a statement of intent to build sincere lifelong relationships.

Director Retail & Business Banking William Ndumia presents a gift to Mr. who was the first client to open an account after the official opening of Co-op Kamulu branch Mr Joseph Kimathi Ndegwa . Looking on is the bank's Head of Branch Banking Peter Kirugu.
Director Retail & Business Banking William Ndumia presents a gift to Mr. who was the first client to open an account after the official opening of Co-op Kamulu branch Mr Joseph Kimathi Ndegwa . Looking on is the bank’s Head of Branch Banking Peter Kirugu.

Fourth, the advent of Devolution and establishment of County Governments has fostered a totally new economic dynamic with counties emerging as new centres of economic dynamism.

Co-op Bank has a County Banking Strategy aimed at building competencies to serve the unique needs of the various counties and communities.

This includes having some form of physical presence in all counties, as it would be highly unlikely that any county would partner with a bank that has no presence in a county.

The ongoing migration of routine bank transactions such as cash withdrawals, deposits and payments to alternative channels offers banks the space for deeper engagements with customers and the wider community.

This includes more focus on customer advisory, consultancy and training, to build lifelong relationships, brand immersion and sustainable value-add to the communities in which we do business.

Similar to other lifelong relationships, banking needs to be nurtured for the long term rather than regarded as transactional interactions.

The Avocado Guy: How a fruit incident in high school gave birth to a lifetime nickname!

If you had to pick a fruit as a prop when making a proposal to the love of your life, what would you choose?

It has to be as closest to your personality as can be……

Watermelons define an ambiguous person. Cucumbers, well, someone is cold blooded. A strawberry, that’s a happy-go-lucky soul – always happy. A pine apple, that’s the icy sibling with a short fuse.

In my case, its the Avocado.

The avocado fruit, alias the guacamole, has been the sun around which my life orbits rotate. The seasons, the fall and rise of my tidal fortunes, and misfortunes. Oh, avocado, the poems she deserves.

(All prized objects are classified as a ‘She’, right? – jets, super bikes, yatchs, avocados…)

This fruit must have been rigged out in the stories on the foetal stages of man, cue the Garden of Eden. The apple is too bland.

Otherwise, the survival of college students would be on the apple, but it isn’t. Its the eternal avocado.

I can’t help it, but I cringe everytime I meet a former classmate. The avocado is to blame.

Luckily, most are self-absorbed with the caste questions: What do you do nowadays? They want to know how much respect you deserve.

Occasionally, I meet the loudmouths, the former bullies. I’ve had a fellow whose name I couldn’t place (he was in Form 4S, I was in 4N) bawl my name across an empty banking hall.

Well, not my name exactly, but my high school nick name.

HEY, ZACK WA AVOCADO!

This guy remembers our first day, that the hallowed fruit allowed me to share her name.

It’s a she, we agreed.

The school had a central square on which we naively lined up with our boxes, for check in.

The square commanded a higher ground than the row of classrooms. The senior students spent most of the time making faces at us from the windows.

My turn came, and I popped open the overstuffed metal box.

Alas, and behold, a batch of avocados (a group can be called a batch, right?) tumble out!

Worse still, the fruits tumble the entire length of the raised square, down to the row of classrooms.

I later heard a boy was almost trumpled to death in the mini-stampede as students scrambled for them.

I became The Avocado Guy.

A week later, I receive a letter from my younger brother:

*Bro, hope uli manage kuuza ile Avo coz mi huskia wasee huchukua pocket money ya mono zote…..

I could strangle the little devil!

But he was right – later that night we lost most of our pocket money!

If you have a kid joining high school, anticipate money trouble. The risks of carrying hard cash are a dime a dozen.

An innovative idea by Co-op Bank gives a suitable solution.

The Co-op Prepaid Card is a new revolutionary cashless way to escape the perils of handling hard cash – students can safely carry their pocket money – and there’s no extra charges when shopping at the school canteen.

Another plus is that parents and guardians can remotely monitor their student’s spending habits, amount available and even load the card directly from their phones.

Hey, you don’t even have to be a Co-op Bank client to enjoy the benefits of the Co-op Prepaid Card.

To learn more about the Co-op Prepaid Card, click here.

Alternatively, walk into the nearest Co-op Bank branch to speak to a bank representative.

Avocado, anyone?

Have you got kids in school? Here’s seven great reasons why a Co-op Pre-paid Card is a good idea!

The Co-op Prepaid Card is a new revolutionary cashless way to escape the perils of handling hard cash.

Despite the health risks cash brings, there’s also a myriad of other risks: loss due to theft or misplacement, it’s harder to account for or track expenses, et al.

For students going back to school, the risks are doubled. This card solves the perennial stress of constantly worrying about your kids in college and high school.

The pickle in the pie is that one doesn’t require to be a Co-op Bank client to enjoy the benefits of the Pre-paid card.

Whichever your choice of bank is, all one has to do is walk into the nearest Co-op Bank branch and sign up for the card, and your child’s needs are handled.

What are the benefits of a Co-op Bank Prepaid card?

  • No need for your child to carry loads of pocket money as they head to school, you can simply load it in the Co-op Prepaid card which is safer than carrying cash..
  • The student will be able to pay for items at their school canteens at No Extra cost.
  • Parents will be able to track their students sending by getting a Mini statement of the card at a Co-op Kwa Jirani agent or via SMS alerts
  • You no longer need to travel all the way to the school to hand over money to your child, you can simply load the card at any Co-op Kwa Jirani agent..
  • The students are also able to withdraw money using the card from any Co-op ATMs or Co-op Kwa Jirani agents outside school.
  • You don’t need an account witph Co-op bank to enjoy the benefits of the card
  • No extra charges will be incurred in transactions using the card.

Visit the nearest Co-op Bank branch to learn more about the Prepaid card, or, click here.

Co-op Bank sponsors the 40th edition of the KDF Annual Cross-Country Championships

Co-op Bank was once again the sole sponsor of this year’s Annual Kenya Defence Forces (AKDF) Cross-country Championships that took place on Friday 29th January, 2021 at Moi Airbase in Eastleigh, Nairobi.

The event happens every year in the month of January to enable KDF select its participants for the National, Africa and World Championship athletics events.

Gunner Kibiwott Kandie of Embakasi Garrison rips the tape to win the 10km Men’s Race

The annual event was graced by the Cabinet Secretary for Defence Dr Monica Juma and the KDF top brass led by the Chief of the Defence Forces Gen. Robert Kibochi. The Director Retail and Business Banking at Co-op Bank William Ndumia attended as sponsors of the event.

This year’s event was the 40th Edition of the Cross-country Championship. KDF’s deep athletics talent pool was on display, with world-renown athletics featuring including the double World Champion in both the 5,000m and also Cross-country Hellen Obiri who was representing her Laikipia Air Base Team.

Kahawa Garrison Atletics Team were crowned the eventual winners ofthe 40th edition of the KDF Annual Cross Country Championships.

She won the 10 kilometre Women Cross-country race. Kibiwot Kandie of Embakasi Garrison won the men’s 10 kilometre Cross-country event.

Kawaha Barracks was crowned the overall winners, followed by Moi Airbase Nairobi and Thika team respectively.

Snr. Pte Joyce Chepkemoi of Laikipia Air Base, the 1st Runners Up in the 10km Women’s Race, just after Hellen Obiri of Moi Air Base.

Co-op Bank continues to strengthen the partnership with the KDF in grooming athletic talent within the force, which continues to produce world-beating talent in athletics.

Co-op Bank will continue to support this sport that is beloved by Kenyans, and which continues to earn the country tremendous glory and fame around the world in addition to inspiring millions to lead healthier lives.

Making a long drive upcountry for Christmas? Avoid getting stranded with a basic car check before the drive!

This festive week, lots of families will be making long drives to mark Christmas with their families or friends. Due to the prevalent Covid-19 conditions for most of the year, lots of these trips will be made upcountry.

There’s the comfort, flexibility and convenience a car affords one in this situation – and for some, they’ll be looking to hire a car for a few days.

There are a few individual checks one needs to make on the car before a long drive. No one fancies getting a break down at odd hours, middle of a forest.

What are (some) of the checks?

  • Have the tires checked for alignment and pressure.
  • Check the headlights and turn indicators – replace bulbs, or blinking frequencies.
  • The condition of brakes – replace brake pads, and have them tuned.
  • The AC – you don’t need your family stewing in the car on a long drive. They’ll be cranky.
  • Check & top up the coolant.
  • How’s the battery condition? Replace if it’s aged.
  • Check and replace engine oil and oil filters – if necessary.
  • Replace old, worn out wipers – if need be.
  • Make sure the spare tire is in good condition, and the tool kit to change tire if need arises.

Additional important things:

  • Obtain a small fire extinguisher for the car.
  • Tag along essential vehicle documents like registration, driving license and insurance.
  • Carry extra essential fuses of the car – if you have the skills to diagnose an electrical mishap.
  • An extra can of engine oil, brake and coolant fluids.
  • Have an emergency car kit – jumper cables, tire sealer, and tire Inflator with pressure check monitor
  • Basics like flash lights, a medical first aid kit and the triangle hazard signs

One other essential aspect is the fuel you purchase along the way. Avoid making purchases from unorthodox, road side dealers.

Most of this fuel is adulterated, and will eventually cause a vehicle break down – or greatly reduce performance.

Purchase fuel at established fuel stations only.

Another plus is that purchasing at established fuel stations allows one to make cashless payments – which greatly helps in general personal safety and in the fight against the pandemic.

For Co-op Bank clients, using the Co-op Bank Visa Cards comes at no extra charges.

Besides fuel purchases, Co-op Bank Visa Cards can also be safely swiped at restaurants, pharmacies, mall shopping, groceries, et al.

It’s convenient, safe and any transactions get instant notifications on mobile phone. It’s easier to track spending this festive season.

Get some helpful info on Co-op Bank Visa Cards by clicking here, or visit the nearest bank branch.

Have a Merry Christmas. Enjoy responsibly.

INTERESTING: https://www.ghafla.co.ke/sponsored/step-aside-santa-claus-the-allure-of-new-clothes-is-what-made-christmas-day-magical/

Step aside, Santa Claus. The allure of new clothes is what made Christmas Day magical….

For kids, the Christmas week is certainly the favorite time of the year.

The usually strict parents loosen up a wee bit. Even the perennial frown on Aunt Jessica softens into occasional beaming smiles. Bedtime is allowed to stretch late into the night curled up on the sofa in pajama’s watching Santa-themed stories on national television.

Snacks? No rationing.

It’s the time to binge on a year’s worth of candy and cake. Speaking of kitchen treats, the menu chart on the kitchen wall showing what’s cooking on what day is ignored for a while – mother goes on overdrive churning up delicious, rare delicacies.

It’s awesome that no one remembers to send you to the study room citing how badly you flopped in last term’s end papers.

It’s a good week to be alive.

What’s more memorable is the family shopping trip to get new clothes. Oddly, most dads keep clear of this errand. It’s usually up mother’s alley. To be sincere, dads mostly keep away from shopping of any kind.

Ha! Ha!

The allure of new clothes would drive us crazy. I mean, we’d get new clothes through most of the year – but, special Christmas Day clothes had this magnetism.

Suppose we’d get them a week or so before D-day, we wouldn’t get much sleep. Most part of every night would be spent trying and re-trying them. It’d force discerning parents to keep them hidden, till the day.

New shoes? It gets hilarious.

If you didn’t spend a night wearing new shoes under covers, your childhood was a boring one, or at best, lackluster.

This year, make the right memories for your kids with a special Christmas Day clothes treat. If matters not how full their closets already are, kids will always go nuts over new stuff. To stay within the guidelines when out shopping in malls, avoid liquid cash when making payments.

Coins and notes are aiding the spread of the pandemic.

Embrace cashless payments.

The Co-op Bank Visa Cards are perfect for these scenarios.

What’s more, cashless payments done with Co-op Visa Cards attract no extra fees – payments are free.

All Christmas shopping – clothes, shoes, gifts, food, fruits, name it – can all be paid for by swiping Co-op Bank Visa Cards at payment points.

This scrapping of payment fees also includes payments at fuel stations, hotel and flight bookings.

This enhances a vibrant, cozier lifestyle as it enhances safety for your money, convenience and clear money management with instant notifications for every transaction.

To learn more about Co-op Bank Visa Cards, visit the nearest bank branch, or check online by clicking here.

What’s the definite Must-Have’s for a memorable road trip with your gang?

Well, road trips are fun for their exploratory nature. A well-planned road trip with a tight circle of friends can be the highlight of the year.

A road trip has a definite ultimate destination in mind, but there may be numerous side trips or unplanned activities along the way. The magic lies in the spontaneity of it.

Make good choice of friends for a road trip – your joy depends on it.

Plan for the essentials.

Essential car tools and accessories, like spare tires, equipped tool boxes with jump cables, tow cables, gas cans, triangle reflectors, et al. It pays off if a member of the gang possesses basic motoring skills.

Travel first aid kit with bandages, burn cream, tweezers, gauze & medical tape, antihistamine, pain relief medicine.

Comfortable backpack capable of holding water bottle, snacks, camera, or other incidentals.

Lots of good music – or whatever favorite past time your gang likes – some may like audio books, podcasts, et al.

A tent, sleeping bag and pad so when you’re driving by somewhere super beautiful you can just pull over and pitch your tent, making the best portable home wherever you find it! Means saving money to be used in booking hotels!

A cooler with lots of drinks – however, in case of alcoholic drinks, be sure to have a designated driver at any point of the road trip – in turns.

Enough bottled drinking water, healthy snacks for the road (granola bars, fruit, nuts, shake mixes) as you don’t want to rely on only junk or roadside fast food.

Quality electronic device car chargers for smart phones, laptops, tablets, etc. as well as headphones for individual listening.

Maps – like, printed maps – not just digital maps, as sometimes devices may go off, or get reset.

Sunglasses, for comfort in case of glair – or for sheer ooze and pomp. Glasses are stylish.

Casual clothing and layered clothing like tees, sweatshirts, rain slicker, and warm jacket if traveling to cold temperature destinations.

Perhaps, the biggest factor lies in the cost factor. A lot of times, road trip groups usually save up for the trip in a central account. It may even take a year or so.

On the duration of the trip, carry along only the essential amount in liquid cash – as protection for hazards of the road – like, robberies. A little cash comes in handy, too, if your car ends up in a ditch and a homely neighbor needs to tow you out with his tractor!

The bulk of the trip savings, though, has to be in a safe place, and yet within reach in times of need.

For cashless payments, Co-op Bank offers a seamless experience through its Visa-branded cards. All kinds of payments foreseeable on a road trip can be made by safely swiping Co-op Bank Visa cards at payment points.

Name it: fuel purchases, hotel bookings, eating at hotels and restaurants, souvenir-shopping…..

Swiping Co-op Bank Visa cards comes at no extra costs.

It’s free, convenient, and safe. It’s also easy to track spending through instant notifications on mobile phone.

To learn more on opportunities availed by Co-op Bank Visa cards, check online by clicking here, or visit the nearest Co-op Bank branch and speak to the staff.

Also Read: https://www.ghafla.co.ke/sponsored/did-you-know-that-a-co-op-kwa-jirani-agent-offers-the-exact-same-services-available-at-any-co-op-bank-branch/