Monday, October 18, 2021
Home > Business & Finance > Sacco to conclude its headquarters construction by year 2020

Sacco to conclude its headquarters construction by year 2020

The  Tower  Sacco  Society has assured its members that the ongoing construction of its headquarters in Olkalou, Nyandarua County will be concluded within the next 12 months.

While addressing its members during a Special General Meeting on Monday held at Ol Kalou on the budget year 2020, the Sacco Chairman, John  Gitundu  said that the contractor was expected to conclude the construction of the six  storey building by September 30, next year.

He  said that the architectural design and necessary approvals were already granted and construction works commenced and now on the first floor, he said while assuring the members that the building construction would not affect service delivery and their returns on the dividends.

“We have already done with the basement, ground floor, mezzanine floor and now working on the first floor; however the construction money had been set aside and there is no need to worry on rebates and dividends,” noted Gitundu.

Once the building is completed the society will relinquish the rented premises in the town and create adequate office space for the Sacco’s operations.

In the event the Sacco Chairman also noted an increase of 23.2 per cent in the membership which he said had been manifested by the new marketing strategies that the Sacco had adopted in revamping the marketing department.

He  also noted the share capital had increased with over Shs.2 million an attractive increase of 30 per cent with the Sacco  Society’s Regulatory Authority placing it at position eleven in the Sacco deposits size and at 23.83 per cent in terms  of growth.

By  David  Njoroge

Leave a Reply