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Safaricom Investment Cooperative
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mwasjd
#81 Posted : Thursday, February 21, 2013 6:46:03 PM
Rank: Member


Joined: 7/28/2006
Posts: 30
AGM Highlights:

Membership up 34.5% to 1340
Assets up 84% to 503m
Revenue up 58% to 76m
Shareholder funds up 135% to 233m
Surplus up 49% to 63m

Strategy to move to offering serviced plots, affordable housing units & commercial farming. Apartment project in Mlolongo to proceed with construction immediately after general elections after waiting for stabilization of interest rates.
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eco
#82 Posted : Thursday, February 21, 2013 7:06:56 PM
Rank: Member


Joined: 6/17/2011
Posts: 229
mwasjd wrote:
AGM Highlights:

Membership up 34.5% to 1340
Assets up 84% to 503m
Revenue up 58% to 76m
Shareholder funds up 135% to 233m
Surplus up 49% to 63m

Strategy to move to offering serviced plots, affordable housing units & commercial farming. Apartment project in Mlolongo to proceed with construction immediately after general elections after waiting for stabilization of interest rates.



Thank you. Any info on the dividends?
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mwasjd
#83 Posted : Friday, February 22, 2013 10:27:59 AM
Rank: Member


Joined: 7/28/2006
Posts: 30
Return on members deposit was 28%. AGM resolution was 70% reinvestment to support apartments project while members take home 30% as their actual dividend.
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bird_man
#84 Posted : Friday, February 22, 2013 11:03:54 AM
Rank: Veteran


Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
Doesnt that mean actual dividend is 8.4%?
Formally employed people often live their employers' dream & forget about their own.
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BGL
#85 Posted : Friday, February 22, 2013 10:19:28 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,223
bird_man wrote:
Doesnt that mean actual dividend is 8.4%?


Exactly, 8.4% in cash and 19.6% as bonus shares.
SIC needs cash to finance the ongoing land and housing projects hence the need for dividend capitalization.

History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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BGL
#86 Posted : Tuesday, February 26, 2013 2:33:45 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,223
mozenrat wrote:
I have my doubts... We calculated the dividends paid to a friend who is a member of SIC and it was coming to about 35%... Also most Saccos declare earnings in two ways.. Interest on deposits and dividends on shares... there is no such structure in SIC



I just do not understand how they make their calculations. Anybody having the same problem to explain how they do it.

The alien algorithms they are using are not only complex but weird.
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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mchawi
#87 Posted : Thursday, February 28, 2013 8:33:28 PM
Rank: New-farer


Joined: 4/4/2011
Posts: 94
Location: Nairobi
BGL wrote:
mozenrat wrote:
I have my doubts... We calculated the dividends paid to a friend who is a member of SIC and it was coming to about 35%... Also most Saccos declare earnings in two ways.. Interest on deposits and dividends on shares... there is no such structure in SIC



I just do not understand how they make their calculations. Anybody having the same problem to explain how they do it.

The alien algorithms they are using are not only complex but weird.


I've also been wondering. In the meantime I continue enjoying the growth of my investment..
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CLK
#88 Posted : Friday, March 15, 2013 9:42:07 AM
Rank: Member


Joined: 4/1/2009
Posts: 846
BGL wrote:
bird_man wrote:
Doesnt that mean actual dividend is 8.4%?


Exactly, 8.4% in cash and 19.6% as bonus shares.
SIC needs cash to finance the ongoing land and housing projects hence the need for dividend capitalization.



@BGL, if i wanted to withdraw from the co-op, can i get everything including the bonus shares? ofcourse in cash
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Meduza
#89 Posted : Friday, March 29, 2013 11:34:16 PM
Rank: Member


Joined: 2/7/2013
Posts: 447
Location: Nairobi
This is good information...was told about the sacco but didnt know much...the person who told me is actually a benefitially of this sacco who has been in it for the last 2 years.
You cant win, unless you first begin....
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The optimist
#90 Posted : Thursday, May 09, 2013 10:32:14 AM
Rank: Member


Joined: 6/14/2010
Posts: 521
Location: Nairobi
Today is Blue bells apartments ground breaking for Safaricom Investment Cooperative
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BGL
#91 Posted : Friday, May 10, 2013 12:13:20 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,223
The optimist wrote:
Today is Blue bells apartments ground breaking for Safaricom Investment Cooperative


http://www.capitalfm.co....n-sh1bn-housing-project/
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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tinker
#92 Posted : Wednesday, May 15, 2013 3:01:14 PM
Rank: Member


Joined: 11/15/2010
Posts: 454
Location: Nairobi
FYI we also saw this "(SIC) is set to provide decent accommodation facilities to university students "

http://www.businessdaily...4/-/fn1qifz/-/index.html
....He who began a good work in you will carry it on to completion..
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The optimist
#93 Posted : Sunday, May 19, 2013 12:23:29 PM
Rank: Member


Joined: 6/14/2010
Posts: 521
Location: Nairobi
[quote=tinker]FYI we also saw this "(SIC) is set to provide decent accommodation facilities to university students "

http://www.businessdaily.../-/fn1qifz/-/index.html[/quote]

These Guys are going places.
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jerry
#94 Posted : Sunday, May 19, 2013 2:00:45 PM
Rank: Elder


Joined: 9/29/2006
Posts: 2,570
@CLK. If I've a loan with another SACCO can SIC buy it and how will it be secured?
The opposite of courage is not cowardice, it's conformity.
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patrazi
#95 Posted : Sunday, May 19, 2013 2:07:36 PM
Rank: New-farer


Joined: 7/18/2012
Posts: 76
jerry wrote:
@CLK. If I've a loan with another SACCO can SIC buy it and how will it be secured?

SIC is not a SACCO and does not offer loans currently. It is an investment coop: offers dividends, share growth and preferential terms in property purchase.
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jerry
#96 Posted : Monday, May 20, 2013 10:01:45 AM
Rank: Elder


Joined: 9/29/2006
Posts: 2,570
@patrazi, Thanks.
The opposite of courage is not cowardice, it's conformity.
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BGL
#97 Posted : Monday, August 12, 2013 7:46:28 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,223
SIC Blue Bells project Updates

http://sicinvestments.blogspot.com/
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Gathige
#98 Posted : Tuesday, August 13, 2013 11:06:25 AM
Rank: Elder


Joined: 3/29/2011
Posts: 2,242
[quote=BGL]SIC Blue Bells project Updates

http://sicinvestments.blogspot.com/[/quote]

Thanks, @BGL. Quite impressive and i like the way they provide info even in their website.
"Things that matter most must never be at the mercy of things that matter least." Goethe
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webish
#99 Posted : Monday, September 02, 2013 9:46:52 AM
Rank: Member


Joined: 10/19/2009
Posts: 671
Location: Nairobi
Hi,

How often do they organize trips to view the plots listed on their website?

Life is joy, death is peace, but the transition is very difficult.
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webish
#100 Posted : Thursday, September 05, 2013 9:56:09 AM
Rank: Member


Joined: 10/19/2009
Posts: 671
Location: Nairobi
Randomly checked their website today and realized they have re-designed it. Looks like they just discovered that there's never a 'second" chance to have a good first impression.. smile smile

Few broken links, but Much much better than what they had.

LINK

KR,

Life is joy, death is peace, but the transition is very difficult.
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