The Story of Safaricom Sacco

2001

Established
Safaricom Sacco Ltd was founded in May 2001 to serve the common bond Safaricom Ltd Employees.

2011

Something Big
Safaricom Sacco was licensed by SASRA to operate FOSA The emergence of FOSA has led the Sacco not only to focus on individual memberships but Chama’s, groups, Corporates and Mergers with small Sacco’s. FOSA has boosted the Sacco’s liquidity level through introduction minimum shareholding to members and several unique products which are in line with the current technological trends.

2014

Launch of Strategic Plan
Launch of Strategic Plan In the next five years, the Sacco aims at achieving several overall goals, which include: Being a one-stop shop for financial services for the members, Growing the SACCOs member base to 10,000 members, Attaining a loan portfolio of 10 billion Kenyan Shillings and saving base of 10 billion Kenyan Shillings and becoming a top 10 ranking in the SACCO sector.

2019-2020

Overhauling of Sacco systems
Overhauling of Sacco systems through Project CIRI (Customer Focus, Integrity, Reliability & Innovation). This has digitized the Sacco fully namely : Member registration Loan applications, Guarantor approvals all Online! Transfer of funds has also been made seamless from FOSA through Pesalink & partners Cooperative Bank. Mortgage product launched to empower members with affordable housing.

2021

20 Years anniversary
Safaricom Sacco Celebrates 20 Years anniversary of Empowering Members This has digitized the Sacco fully namely : Member registration Loan applications, Guarantor approvals all Online! Transfer of funds has also been made seamless from FOSA through Pesalink & partners Cooperative Bank. Mortgage product launched to empower members with affordable housing.

2022

10B KSH Assets
We reached 10B in our Asset base value in the 2022 financial year