Page 11 - Ramco JO SACCOStar _Vol 50.indd
P. 11
COVER STORY
By Gichuki Kabukuru,
CEO Harambee Investment Co-operative Society
Brief on HARAMBEE INVESTMENT:
THE FUTURE IS BRIGHT
By Gichuki Kabukuru
From an asset base of Sh6.7m affordable price, and on land that is Limited include but are not limited to:
in 2018, Harambee Investment very strategically placed, our members
Co-operative Society Limited get their title deeds at the earliest • To invest in shares of other Co-
(HICS), now boasts of an asset base of opportune time. Our turnaround time operative Societies and companies
Sh112million in 2019. for title deed issuance has been within quoted in Nairobi Securities
90 days from the date of purchase.” Exchange, Unit Trusts, Treasury
Established in 2014 as an investment Bills, and Treasury Bonds
offshoot of tier-one giant Harambee Harambee Investment is now focusing
SACCO, HICS began its undertakings on phase three of its land-buying • To provide for its members living
in 2018. project. “Our business forecast is accommodation at a reasonable
such that we have taken a staggered price together with such ancillary
We have so far ventured into two approach in buying, subdividing and services as roads, drainage, water
projects, namely: Harambee Ol donyo selling land to our members in such a and light.
View Estate - Kantafu and Harambee manner that we identify a place, close
Flamingo Estate, in Nakuru. the deal, sub-divide and sell at a most • To acquire, lease or otherwise
affordable price to our members and dispose off the Society’s building(s)
According to Mr Macloud Malonza, the then move strategically to another and other properties as necessary.
Chairman Harambee Investment, We location having cleared and issued
are projecting an asset base growth our members with their title deeds at Membership:
of up Sh1billion by 2025, and we the shortest possible time,” states Mr
are optimistic that even as we grow Malonza. • Entrance Fee – Sh 5,000.00
the institution’s financial position,
the members will be the ultimate The principle activities of Harambee • Minimum Share Capital –
beneficiary. So far, our strategy has Investment Co-operative Society Sh 15,000.00
mainly been to ensure that at the most
• Minimum monthly deposits –
Sh 1,000.00
“We have so far ventured into two projects, namely:
Harambee Ol donyo View Estate - Kantafu and Harambee
Flamingo Estate, in Nakuru,”
SACCO Star Magazine | 9
