Monthly Archives: May 2017

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Reflecting on UBUNIFU SACCO First AGM

Category : Uncategorized

As Ubunifu SACCO, we finally held our first ever Annual General Meeting (AGM) on April 27 2017. The month of May also marks two years since Ubunifu SACCO received certificate of incorporation thereby becoming a fully registered SACCO under the Ministry of Industrialization, Trade and Cooperatives. Therefore it is a double celebration for these important milestones. HAPPY BIRTHDAY UBUNIFU SACCO. The idea behind forming Ubunifu SACCO was a result of members need for an entity that would enable us able to save and access affordable financial services. Majority of the current members are freelancers undertaking online work as well as other related businesses. Offering services that meet the needs of this target group continues to be the major focus of Ubunifu SACCO. Leading up to Ubunifu first AGM, Ubunifu SACCO has made progress in various areas outlined below.

Sacco website

At the start of the year, 2016 the board of management took steps to ensure members enjoyed efficient services from the SACCO. The first major step was of putting the SACCO on the road to making it paperless. The board envisioned that in this age of technology innovation, online operations would ultimately reduce operational costs in the medium and long term while ensuring faster and efficient service delivery. The SACCO set up a website This was first step. Members are now able to easily apply for a loan online without filling any paperwork. The next step that is now on focus is to form a member portal which would enable members to view online statements and track their own contributions, loans and other aspects.

Credit facilities: introduction of Teke Teke

The backbone of any SACCO is the credit products it offers. In 2016, we saw tremendous growth in this area. The upatke of normal loans has continued to grow. The introduction of TEKE TEKE LOAN was received well by members since it enabled them to access instant loans processed within a few hours of a working day. Furthermore, TEKE TEKE LOAN is issued without the need for guarantors as long as one is a fully paid up member and has contributed monthly savings. Members can apply for the loan online and get it via mobile money transfer services. The initial loan limit was up to ksh 20,000 but due to increased requests from members, the loan was limit was moved upwards to ksh 30,000. We continue to make progress towards ensuring the SACCO is responsive to member needs and the focus in 2017 is to introduce more savings and credit options that directly address member needs.

SACCO Accounts Assistant 

Towards the end of 2016, the board deemed it fit to hire a accounts assistant to assist in accounting as well as marketing efforts. This was due to overwhelming amount of work involved especially in managing member monthly contributions, loan applications and processing and marketing efforts. The board put out an advertisement notice in October 2016. After a rigorous recruitment process, Fednarnd Chikira emerged as the best qualified candidate and became the first intern for the SACCO. Fednarnd served well in the first three months and the contract was renewed for another three months in February 2017. Overall, Fednarnd helped us streamline our operations mainly related to ensuring SACCO books of accounts are up to date. He has also contributed in marketing efforts mainly related to social media. We look forward to a longer term engagement with Fednarnd in 2017.

In summation, 2016 has been a year that has mainly focused on laying the ground work for future growth. As the board of management, we believe that in these foundations will put the SACCO on a growth trajectory. For 2017, our major focus is on member growth, improving efficiency in SACCO operations and new products. We believe that if we keep focusing on improving our services to serve the needs of members we will ultimately attract new members from our target market.  Furthermore, we are keen on research and marketing and in order to seek ways to make our products even better for our existing members as well as to attract more members. Together with the support of members, we can make Ubunifu SACCO to grow even further as we DREAM CREATE and ACHIEVE.


Chris Mugendi Kariuki

Secretary, Ubunifu SACCO.

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Category : Uncategorized

In my earlier posts, I have been handling on the issue of savings and it’s important. Today, I want you to think on the below statement that is so common to many of us today:

“I can’t save!” “There’s nothing left to save at the end of the month!”

How many times have you heard this? Have you said it yourself? Not being able to save is one of the biggest reasons why some people don’t become wealthy.

Almost anyone who earns a regular or irregular salary is able to save something each month, even if it is only a small amount. Our powerlessness to save is usually because we lack discipline and commitment and are attracted byTHINK ABOUT TOMORROW things we see in shops, on TV or magazines. Advertising makes us think we need to spend. It always leads to impulsive buying. In reality, we probably don’t need expensive new shoes or a hi-fi and even if we did, cheaper ones are often just as good. Some of our spending habits are influenced by our peers; seems like we are in a competition of outclassing each other.

However, how much you earn whether regularly or irregularly; Think about tomorrow. Even if you cannot afford much, get into the lifelong habit of saving. You are never too young to start saving neither are you too late to save. The earlier you start the better. I will mention it again that there is always not enough to save. Nobody earns enough to put aside a certain amount for his future. So, develop a savings plan NOW. This is the first step towards taking control of your future.


Today, I will share on a secret of lion that I believe will help you and to develop a good saving plan. Lions live in families called pride. In a pride would consist of up to 11 lionesses and several cubs and at least 3 adult male lions. After a hunt, the leader of the pack would eat first, all the others will back off so that he can eat first and alone. This might seem to be avaricious, but the leader will always ensure that there is food for others and also providing security to others as they eat.


By this habit of the leader eating first, in savings we say “save first”, ahead of all other expenses, and not last, or out of any orts. Like the lion, which eats first ahead of the pride, you should pay yourself first and save a fixed amount each month. Make this saving a reflex payment taken from your pay, before you start shelling out. By looking after your savings needs first, you are making safe the future of your own pride – your family’s future.

Holding to this principle of saving will help you to transform your spending patterns. Even if you start with a small savings amount, should you be disciplined and committed to this, you will build up a savings habit. This habit will make it easier to increase your savings over time. Make sure you put your savings in accounts that will give you returns after a period of time.


How much can I save?

This is a question that I have encountered a number of times in my working place. And I would say, depending on how much you earn, save as much as you can. Remember the lion always eats as much as it can since it is not sure of its next meal. Also, your needs at hand can help you determine how much to save. After my long struggle of savings, I have set my thumb rule to save between 10% and 15% of my monthly salary. What do you think about this? It can be good to you too. However, if you think that is too much, get going with what you can afford at the moment and be realistic i.e it is not realistic to save Sh. 500 monthly from an income of Sh. 20,000.


It is better to start saving now rather than later and with a smaller amount rather than not at all. You can always increase the amount later, when you can afford more.





Authored by:

Fednarnd Chikira

Accounts & Marketing

Ubunifu Sacco Society Ltd.





May 2017