Author Archives: ubunifu

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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.




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Setting And Reaching Your Saving Goals

Category : Uncategorized

Setting And Reaching Your Saving Goals

Most of young men have dreams and have set goals, and determining even the specific objectives to be achieved after a period of time. Setting the specific savings goals is one thing and implementing them is another thing. Most of us we have been caught debating whether to save or spend everything from the meager salary we get. However, it imagesrequires commitment, consistency and discipline to achieve your Savings Goals. Also, it is important to note that, savings never starts tomorrow, it starts now. There is no enough to save always, but you have to set a shilling aside to save for tomorrow.

So, how can you set and achieve saving goals?

  • Identify your objective; what you are saving for. You could be saving to buy something, to invest, go back to school, for a holiday treat, retirement, to start a business…. Have a specific thing you want to achieve with your savings. Saccos nowadays have created saving plan for almost every target you can think of and also loan products for such. For example; Jienjoy loan, Development loan, Gadget loan, Elimu loan etc. Let your objectives be SMART i.e. Specific, Measurable, Achievable, Realistic and Timely.
  • Establish the amount you need to save to reach your goal. For example; I want to have saved Ksh. 365,000.00 in the next 12 months towards my post graduate education fund. Having the end goal in mind, break it to smaller and specific action points. e.g. daily, weekly, monthly. For me to save 365,000.00 in 12 months, I need to save at least Sh. 1,000 daily or 7,020 on a weekly basis.
  • Having the goal and action plan, the next thing is to determine evaluation times, e.g. after every 3 months, 6 months etc. This will help you analyze the progress and take corrective measures where and when necessary before it is too late. This will show whether you are in the right track or you have veered away and if on the track, how you can do to improve best or if out of track what shall you do to be back on the track.
  • Find the right type of savings Account for your goal which shall give you the benefit of what you are looking for. At UBUNIFU SACCO we have unique products for unique needs you have. Our saving plan is such flexible that upon registration, you can deposit regular and irregular savings. Visit: for more information about the Sacco and its product and services.

You can issue a standing order from your operational account or from your employer to your savings account. This ensures that you do not have to make the direct deposit to the savings account yourself which you may forget while you saving with less effort.

Authored by:
Fednarnd Chikira
Accounting & Marketing
Ubunifu Sacco Society Ltd.

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Why savings in a SACCO gives you long term leverage

Category : Uncategorized

Savings through a SACCO is a gift that will keep on giving. Savings with a strategic motive is one of the ways to get the most out of your savings. Let me explain how. Life mainly takes place in three major phases: the starting up age, the middle life age and the old age. In early stages of our working life, we have time and energy but probably not enough money. In later years of life after we have worked for a while, we now have the money as well as energy but time is starting to get limited. When we are old, we finally have money and time but no energy.  I think we can uniquely harness the opportunities brought by these phases of life in order to reduce the uncertainties that come with life. When we are young and starting out, we have energy, willpower and time to work and make some money. A good strategy would be probably to understand that in some later stages in life, we will not have the energy and dynamism like we have now. This is where strategic savings come in place. Savings that you make now should be able to earn you money in later years of life therefore add to your income pool.

When you join a SACCO, make sure you do with a group of friends. These friends act as encouragement in order to make sure you make monthly contributions. Since we can be able to make money with our hustles here and there, we direct some of this income to a SACCO saving pool. After months of savings, you qualify to get a loan. Together with the amount of savings, your friends act as guarantors and therefore you get a loan. You can use this loan to expand your side hustle or any other pressing issue. Anybody within your group can do the same. Fast forward a few years later; the SACCO should be making a reasonable return and give dividends at the end of the year. When you earn these dividends, channel them back to the SACCO to act as minimum monthly contributions.  At some point in future, your contributions will be enough to get you a loan without much hustle. The value of your savings in SACCO continues to grow even without you doing anything to it. At this juncture you can even think of other investments outside the SACCO. Since you have a buffer in the SACCO savings, you can undertake other investments and use savings in the SACCO to finance other operations.  The savings in the SACCO can even be used as to solidify your pension plan. Therefore using this strategy, when you enter the second phase of life: energy, money but no time, you are assured of a pool that can help you diversify your investments.

Another advantage is that you have the probability of getting investment partners within the SACCO that can be built upon to other investments. Since you will have taken a few loans and friends as guarantors and also guaranteed them, you can be able to extend the financial relationship to other investments outside the SACCO. This is because at least you have insights on dependable financial comrades with a track record.

At Ubunifu SACCO, this is our main goal, not just offering savings and credit services but also to be platform to build future sustainable wealth. Be sure to introduce your friends and take up this savings challenge. Don’t just save, save with a long term plan and your savings will be a gift that will keep on giving and come to your aid in times of need. The future depends on the actions we take today.



By Chris Mugendi Kariuki

Secretary, Ubunifu Sacco

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Category : Members Posts

Today, our universities in the country are releasing thousands of graduates who are competing in a very competitive environment to secure themselves jobs or even struggling to set up businesses. It has been difficulty for us whom we believe that to get a job in this country depends on whom do you know who knows somebody somewhere. This is just a fallacy. The environment today is just looking for someone who has unique qualifications, attitude, and character beyond your academic qualifications which everybody has attained.

This, has made many of us to go for internships, volunteers or even to start up our own ventures with the hope of earning something little or keeping ourselves busy. This is commendable, but my question is, why is it that you are still the same person, in the same position, lamenting that the “the situation is bad, I don’t have money, I earn very little to save leave alone to capitalize… etc.?’

It is the desire for every youth to be financial stable and be independent, yet you operate from hand to mouth having nothing for spending tomorrow. I want you to know that being cautious about your finances is a very chirpy habit for anyone who wants to develop financially.

As young persons we incline to be very youthful and brimming with vim and vigor such that we cannot keep ourselves together, that we go with fashion, and moving with the world which I am not saying it is bad, but it cost us a lot of money rashly. Far from the mentioned excuses and more of the sort that you always give, you can actually save notwithstanding the amount that you get either per day, per week, per month or per year! It works, while in campus, we formed a group of seven people of like-minded saving Sh. 10 per day. We have engaged in activities that earned us some cash and today, we have money in our account. One by one makes a bundle.

Today, I want to ask you to track your expenses. It may appear to be something simple but it is very important. Keeping track of expenses, while sometimes tedious, is the best way to find out exactly where your money is going.  Anne Tergesen, in “Seven Resolutions to Get Your Nest Egg in Shape,” Wall Street Journal, January 14, 2013  said that without knowing how much you spend, it’s virtually impossible to figure out how much you’ll need to save for retirchartement.

Have a diary or you can download an application from Google Store where every day you will be recording each expense you have incurred in cash, Mpesa, or bank. Categorize your expenses like traveling, vegetables, clothes, charity, lunch, etc. Tracking your expenses for a whole month, will help you know where you spend unnecessarily and also to do a budget for your income. Always make sure you sort for an alternative before spending. After your analysis, seal the loopholes and channel your “unnecessary expenses” to a saving scheme.

Below are some of the things that as a youth you can curb to minimize spending to allow you save, invest and grow financially.

  • Hanging out in new locales

Today, we have mushrooming of joints and ranches in town and its outskirts. Most of the youth want to show the social media fraternity that they know of the new arena just by taking their so called boys to the place and taking some slefie moments and snaps of what you will be served with and posting them in instagram, facebook among other platforms with status like “At the Mall…” Yea, we will know where you spent your weekend, then? What you are not aware is that you paid for taking the photos which will hardly get 30 likes and yet you will wake up in the morning asking for a friend to help you with a thousand to sort your fare to job for the week yet you “met your boys” at New Java in Juja Mall.

  • Bashes and Events

With the social media; being the in thing, every young person does not want to be left behind in showcasing the number and kind of events or bashes attended in a month. There are people who will hold parties at their houses every single weekend! Last week it was a home warming, this week barbecue, etc.  Attending or holding them every once in a long while is not bad, it is not a crime either, just do your math to see how much you spend on them.

  • Travelling

With each holiday, there comes a lot of advertisement such as Chaka Ranch, Diani Beach, flight offers, which make everyone not to be left behind of such experience. It is not bad, but how often do you do it. Do you know that traveling every now and then without a concrete reason can cost you, traveling is expensive unless you are going for a business meeting that is forthright.

Reduce your traveling and invest the money so that at the end of the year you can have your holiday knowing that, there is still something left at the bank.

  • Impulse buying

Both men and ladies are victims of impulse buying especially to those who are dating. They have a habit of impressing their partners, which it is not an offense but as you struggle to make ends meet, you need to make your picks shrewdly. Before you spend on anything, just give at a second thought, is it necessary, can you do without at the moment, is there an alternative…if you can do without, then take an about turn before you get reasons to justify your buying.

Let us remember a shilling saved today, will earn you a shilling tomorrow.

Be wise my friend and stop this appalling spending of hard earned income: save for tomorrow.

Fednarnd Chikira


Ubunifu Sacco Society Ltd

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Category : Uncategorized

In Kenya today, Savings and Credit Cooperatives have become a spontaneous response to a long history of officious procedures and requirements associated with established commercial banks. Also, the emergence of Sacco’s is part of a larger growth that has led to the burgeoning of credit financial institutions and micro-enterprises, which contribute to the growth of the Kenyan economy.

Today, Sacco’s have become more innovative and friendly to their members so as to make them reap as much benefits as they can. With the rise in technology development, you can access any financial services you need right from your locality without physically visiting the financial institution. Most saccos have automated all their services and products and made them readily available to their customers and members.

The question is, why should you join a Sacco rather than other financial institutions?

Below are three main reasons I came up with to answer this question.


First, Sacco’s are formed by a group of people who identify with each other and face similar challenges. I mean, they are usually formed and run by members who have a common goal and vision, which is mainly to provide financial fig-1support to its members who cannot get the same from other financial institutions. For instance, Mwalimu Sacco understands better the needs of the teachers, Matatu Sacco also they know the challenges of the matatu owners, Ukulima is for wakulima. Ubunifu is for those who can dream, create and achieve, i.e. for the self-employed people, freelance writers and academic writers because it understands better the needs of this group of people. Therefore, from whichever profession or place you are; you can be assured there is a Sacco for you. Open your eyes, stand up, seize the opportunity.


  1. SAVINGS.A Sacco will help you to save with more ease. As a member you will be required to contribute a certain amount of money either on monthly, weekly, or fortnight basis towards your savings. Savings has become difficulty to many especially those who do not have a specific idfig-2ea in mind to venture in after sometime. A Sacco gives you an opportunity to save regularly until that day you will have an idea to start a business, build a house, buy a car, land etc. Needless to say, saving a shilling with Sacco today, will also earn you more shillings tomorrow since it will be invested on your behalf.
  2. LOANS.

In a Sacco, it is much easier to get a loan as opposed other financial institutions. Some of these loans you can just apply online and provide your bank details or MPESA details of accounts to where the loan will be disbursed. As a member of a Sacco, you will be entitled to get a loan that is two, three or four times more than your savings fig-3depending on the policies governing the Sacco. Also these loans usually attract very low interests as compared to banks, usually up to less than 1% per month. In Ubunifu Sacco, for instance, Loans products range from development loans, elimu loans, emergency loans, instant loans, entertainment loans etc. Should you have tried to access loans from other financial institutions and they turn your offer down or you realize that it is too expensive to service it, then try a Sacco.

There are many other reasons to make you join a Sacco, just walk in one or two and get to know what they offer. Also you can get information from some of your friends who are in Sacco. Visit their websites also for more information or contact them.

To sum it up, weighing up all the options, the time for YOU to join a SACCO is now.


Written By: Fednarnd Chikira

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Ubunifu Sacco: the Journey so far

Category : Uncategorized

From modest beginnings, Ubunifu Sacco initially started as a savings club in 2013 with about 12 members. Over the period of the next couple of months, the savings club continued to grow. Being freelancers, majority of people would not get loan services from commercial banks. Therefore the savings club was formed to provide financial services based on unique member needs. Later the savings club grew and there was need to form a more formalised entity that would open up membership to other like-minded people. Therefore at the beginning of 2015, members agreed to convert the savings club into a sacco. The impetus for transitioning to a sacco was simple- to form a platform whereby members would be able to save and gain access to credit at affordable rates based on the unique member needs. An interim management team to foresee the process of transforming into a sacco was elected by members in March 2015. The team would go ahead and serve for a period of three months pending a General Meeting that would elect the officials to steer the sacco forward. Ubunifu Sacco received its certificate of incorporation on 22nd May 2015. Later the first AGM was held on June 17 2015 whereby a new board was voted in by members.
Majority of sacco members are young people. Therefore Ubunifu’s main focus is to provide tailor-made financial services to members. In addition, the Sacco aims to always focus on innovative financial services in order to ultimately revolutionise the manner in which services are rendered to members. This being the technology age, the sacco endeavours to continuously innovate and find effective and efficient ways of providing services to members. Based on the realisation that technology can be used to ensure efficiency in the manner in which the sacco conducts its business, the Sacco launched mobile payments platform whereby members can easily make their monthly savings through their mobile phones. In addition, the sacco acquired accounting software that has played a crucial role in streamlining activities such as tracking of member contributions, loan processing and sacco books of accounts. Later on the sacco designed a website that easily updates members of all sacco related activities. Members can easily apply for a loan through the website.
Another major area of focus for Ubunifu is to continually come up with new savings and loans products that reflect member needs. The sacco continues to focus on products that give value to members and help the Sacco generate returns. The nature of products offered by the sacco will ultimately make it stand out in terms of meeting member financial needs. This is a continuous process that we all aim to achieve. For example during the last sacco SGM held on June 3rd 2016, anew loan product, TEKE TEKE LOAN was introduced. This new product is based on assessment that members need access to emergency loans within a short period of time. Therefore with this loan, members can apply and get a loan within the same working day. It is also flexible because members do not need guarantors and access to the loan is also not tied to existing loan obligation. With time, the allocated amount for the loan is expected to increase depending on demand. There are also other loan products such as normal loan, elimu loan, development loan, Jienjoy loan and household loan. Information about these loans can be found on the sacco website. Continuous improvement is therefore essential in ensuring Ubunifu soars to greater heights and becomes a source of pride to members.
Moreover the Sacco aims to provide members with platforms that members can contribute their ideas and opinions about the growth of the sacco. Such platforms also seek to provide the sacco stakeholders an opportunity to reflect on the investment opportunities that members can take advantage. One of such platforms is this blog. We hope that this blog will become member centred so that we can exchange ideas, share and interact on a wide array of issues.
Member training is also important in order to ensure members are aware of financial management as well as their roles and responsibilities in ensuring Ubunifu sacco grows to become the most efficient youth based sacco in East Africa. So far, the sacco has been able to disburse loans in excess of ksh 2 million and it our delight that the sacco will continue to play a role in supporting members financial needs.
Moving forward, the sacco aims to recruit more members in order to ensure it reaches out to more members and also ensure a higher amount of money is available for loaning. This is a task that we all take responsibility for because it is crucial for future growth of the sacco. Together, we endeavour to transform Ubunifu Sacco into a vibrant, dynamic and a sacco that members can be proud of and one that continues to grow in future while meeting member needs.

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August 2021