Kenuks Profile

Profile

Kenya UK Sacco was launched on 30th June 2012 by the then Minister for Cooperatives, Hon. Joseph Nyaga, with a membership of 10 members at inception. The Sacco was borne out of the need for Kenyans in the Diaspora to find a solution to the many financial and investment dilemmas that they faced whenever they tried to invest their hard earned money in Kenya. Some of these hurdles included lack of transparency and intolerable red tape from financial institutions, lack of commitment from relatives entrusted with overseeing investment ventures (leading to big losses) and unreliable means of investment. Membership has grown progressively over the past two years
and to date there are over 200 members.

Primary Objective:

The Society’s Primary objective is to provide a mechanism for Kenyans living in the Diaspora to mobilise savings, access loans at affordable interest rates through partnerships with select commercial banks and undertake investments in identified projects in Kenya.

Operating Principles:

Kenya UK Sacco is SASRA compliant and its operations are in line with core co-operative values that are shared and nurtured by the co-operative movement worldwide. The Society is guided by several operating principles which include, but are not limited to:
Open and voluntary membership.
The Society’s doors are open for membership to all who wish to join it as long as they are within the accepted common bond. Members are free to withdraw their membership if they so wish provided they do not have outstanding obligations with the Society.
Democratic control.
The members enjoy rights to vote and participate in making decisions affecting the Society through electing both the Management and Supervisory committees during the AGM. Every member has a right to one vote during the AGM regardless of the amount of shares they have in the society.
Non- discrimination.
Kenya UK Sacco embraces the spirit of Unity and harmony and does not, therefore, discriminate against any member irrespective of their political, religious, race, gender or immigration status.

Vision and Mission:

Kenya UK Sacco aspires to be THE VEHICLE OF CHOICE for personal development and wealth creation for Kenyans living in the Diaspora.

Slogan:‘Let us Reason and Invest Together’.