Safaricom Sacco Launches Mortgage Product to Aid Affordable Housing

By Korir Isaac / Published August 2, 2021 | 11:39 am

KEY POINTS

The future of SACCOs looks much brighter because it’s meant to safeguard members’ deposits and meet stakeholders’ expectations which can only be done through a disciplined governance structure.

Safaricom Sacco Ltd has launched Faraji Home, a mortgage product aimed at complementing President Uhuru Kenyatta’s plan for facilitating affordable housing under the Big 4 Agenda.

Launched during the SACCO’s 20^th anniversary, Faraji Home allows members to join the product using the USSD code USSD code *345#, SafCIRI App, and iConnect module.

Speaking during the launch of the event on Friday, 30^th August, Safaricom Sacco CEO, Joseph Njoroge encouraged the young generation and public to join the SACCO to benefit from the plethora of products and services it offers.

“The future of SACCOs looks much brighter because it’s meant to safeguard members’ deposits and meet stakeholders’ expectations which can only be done through a disciplined governance structure which is embedded in Safaricom Sacco policies,” Mr. Njoroge insisted.

The event was attended by ICT Principal Secretary Jerome Ochieng who represented Cabinet Secretary Joe Mucheru as well as Chairpersons and CEOs of other Saccos and Apex bodies.

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PS Ochieng lauded the steps taken by Safaricom Sacco Ltd over the years to digitize its operations.

“We want to take this opportunity to congratulate the SACCO for the 20 years milestones achieved so far and especially on the implementation of online member registration and loan application process and being the first Sacco to do so,” Ochieng said.

Commissioner for Co-operative Development Geoffrey Nja’ngombe, on his part, said the government recognized the SACCO for resource mobilization.

“For the first time SACCOs can borrow from each other by ensuring ethical practices and good governance is practiced within the organizations,” he said.

Safaricom PLC, a vibrant member of the SACCO, through the Chief Corporate Affairs Officer, Stephen Chege commended the institution for withstanding the test of cybercrime which is a primary focus of the organization.

Mr. Chege acknowledged the support given to partners by providing agent financing for dealers and LPO financing during a tough economic season.

About Korir Isaac

A creative, tenacious, and passionate journalist with impeccable ethics and a nose for anticipated and spontaneous news. He may not say it, but he sure can make one hell of a story.

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