Safaricom Investment Co-operative has officially changed its name in an attempt to help it grow and explore new opportunities. The Co-operative is now known as ‘SIC Investment Co-operative’.
According to the Investment Co-operative Churchill Winstones, the change in name took six months of planning, during which the team focused on aligning with their 2023-2027 strategy.
Further, he noted that the main goal of the move is to boost financial growth, attract more members, and improve how they operate.
“We understand that client choices constantly keep changing and evolving, driven by shifts around the world, technological advancements, and global events leading to a change in consumer behavior,” said the CEO Churchill Winstones.
Also Read: Safaricom Announces Ksh104 Billion Investment in Digital Health System
Why Safaricom Decided to Rebrand
According to the CEO, the Co-operative now intends to achieve a solution-oriented client experience and diversify the products it offers.
It also hopes to take up the top position in the industry by remaining a trusted investment partner of choice
“By rebranding, we strive to ensure that our Society aligns with the evolving business landscape and that our brand image resonates with the values and expectations of our target audiences.
“We remain committed to providing superior returns to our investors and growth opportunities to our staff, and we will not relent on our determination to invest sustainably,” added the CEO.
Founded in 2009, SIC Investment Co-operative has built its business around real estate, securities, and private equity, and helping investors secure their financial futures.
Over the years, the company has grown significantly, backed by over 5,000 members. It has successfully acquired more than 150 land projects, issued over 4,000 titles to investors, and delivered more than 600 fully paid housing units to its clients.
Also Read: Safaricom, Tusker Ranked Among Most Admired Brands in Kenya- LIST
Oparanya Reveals Plans for the Co-operative Sector
Speaking during the rebranding event, Micro, Small and Medium Enterprises (MSME) Cabinet Secretary, Wycliffe Oparanya lauded the move, saying that the government was mobilizing players in the sector to improve management and efficiency.
“Consequent to this, and in an effort by the government to accelerate financial stability and stimulate access to convenient and affordable financing by Kenyans, especially the MSMEs,
“The government is mobilizing the cooperative sector players into a conversation towards improving the management and efficiency in the sector,” he said.
Also, the CS noted that there had been recent cases of mismanagement of cooperatives that led to embezzlement of members’ funds.
“The government is also harmonizing various legal and regulatory frameworks and realigning them to the current needs and realities as envisioned in BETA; so that it can ensure that we have a well-governed and sustainable cooperative society ecosystem,” added Oparanya.
Follow our WhatsApp Channel for real-time news updates!
https://whatsapp.com/channel/0029VaB3k54HltYFiQ1f2i2C
