Safaricom Investment Co-operative has officially changed its name to SIC Investment Co-operative in an effort to spur growth and diversification.
The decision to rebrand came after a six-month transitioning process that sought to align the Society’s 2023-2027 strategic plan.
The re-brand process entailed market, audience, and stakeholder engagement, which was aimed at achieving an efficient and solution-oriented client experience. This is as the Society strives to align with the ever-evolving market trends shaping the current investment space. As the Society continues to go for the top positioning in the industry, its goal is to remain a trusted investment partner of choice through diversified product offerings.
Founded in 2009, SIC Investment Co-operative, whose business hinges on real estate, securities, and private equity, has experienced transformation, remained profitable, and continuously supported investors in achieving financial security. The company has also experienced growth, largely supported by its more than 5,000 members, acquisition of more than 150 land projects, issuance of more than 4,000 titles to investors, and successful delivery of more than 600 fully paid housing units to investors.
Speaking during the event, Ministry of Co-operatives and MSME Cabinet Secretary, Hon. Wycliffe Oparanya said, “Cooperative societies have been identified and prioritised as key enablers of the financial inclusion aspiration of the government as envisioned in the Bottom-Up Economic Transformation Agenda (BETA). 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 mobilising the cooperative sector players into a conversation towards improving the management and efficiency in the sector, bearing in mind the recent cases of mismanagement of cooperatives that have led to embezzlement of members funds.”