Stima Investment Co-operative Event
Doing Business Online
24 - 25 OCTOBER 2019
The partnership ensures members and non-members of Stima Investment who wish to buy houses and plots sold by the co-operative have easy access to cash.
“Our partnership with Stima Investment Co-operative Society provides an opportunity for its members and non-members to access credit facilities that will promote home acquisition as well as construction,” read a statement from Rafiki Microfinance Bank.
Rafiki is setting aside Sh300 million for the partnership. Stima Investment has a membership of over 30,000 members.
Sale of houses and plots by the investment arm of the sacco is likely to result in an influx of new members to the parent sacco as they seek to get discounted prices and loan rates offered to members. An influx could strain a sacco’s liquidity levels.
Stima Sacco has been aggressively seeking new members by diversifying its products offering. It has increased its membership and asset base to move up the ranking ladder to position three from fifth two years ago.
Last month, it entered into a partnership with Family Bank for its customers to use the bank’s 80 branches to access cash. The sacco is building 1,500 housing units for its members at an estimated cost of Sh4 billion.
