The former Safaricom Investment Cooperative has rebranded as SIC Investment Cooperative. This strategic shift, revealed as part of its 2023-2027 plan, aims to broaden the cooperative’s appeal beyond its origins and position it for future success in a rapidly changing economic landscape.
Since its inception in 2009, SIC has built a robust portfolio spanning real estate, securities, and private equity. With over 5,000 members and more than 150 land projects under its belt, the cooperative has established itself as a significant player in Kenya’s investment sector. Its diverse business lines, encompassing land, housing, business development, and value-added services, reflect a commitment to meeting evolving member needs.
Churchill Winstones, SIC Investment Co-operative’s Chief Executive Officer, emphasized the driving forces behind the rebrand: “Global shifts, technological advancements, and changing consumer behavior are reshaping client expectations. Our new identity positions us to remain agile and responsive in this dynamic environment.”
The cooperative’s leadership views the rebrand as crucial for achieving key strategic objectives, including financial growth, sustainability, increased membership, and streamlined internal processes. This forward-thinking approach aligns with broader government initiatives to modernize the cooperative sector.
Cabinet Secretary Wycliffe Oparanya, speaking at the rebranding launch, highlighted ongoing efforts to update regulatory frameworks in line with the government’s BETA vision. These reforms aim to foster a well-governed, sustainable cooperative ecosystem that safeguards member interests.
As SIC Investment Cooperative charts its new course, it maintains its regulatory relationship with the State Department of Cooperatives, while its affiliate, Safaricom SACCO, continues under the purview of the Sacco Societies Regulatory Authority (SASRA).
The cooperative’s commitment to member value remains evident, with the recent approval of a KSh 142.4 million rebate payout. This financial move, coupled with the rebranding initiative, underscores SIC’s dedication to balancing growth ambitions with tangible benefits for its membership.
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