Safaricom Sacco Ltd was founded in May 2001 to provide members with the opportunity to access credit and savings to develop and improve their economic and social status.
The initial membership was 222 members all from the Parent Company – Safaricom Ltd.
In 2011, Safarico… read morem Sacco Ltd revised its By-Laws to open the common bond to include Employees from related Technology Companies, Safaricom Partners, other Corporate Institutions as per mandated by the board, Diaspora, Individuals introduced by Sacco Members, Chama’s, Spouses of Members & their Children above 18 Years.
In the 2011, Safaricom Sacco was licensed by SASRA to operate Front Office Services Activity (FOSA). 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.
Membership now stands at 13,000 members with an Asset Base of 5.6Bn. Safaricom Sacco Ltd. is a big league Sacco ranked by the Sacco Regulatory Authority (SASRA) – Tier 1 position 23 (2017)