Jamii Sacco is a savings and credit society: it was registered in 1972. Our offices are at Mariakani South B along Mukenia Road. The Membership is open to all traverses in the whole of Kenya. 

1) NAME AND AREA OF OPERATION:

The Society shall be called JAMII SAVINGS AND CREDIT CO-OPERATIVE SOCIETY LIMITED: hereinafter referred to in this by-laws as “The Society”, and its area of operation shall be: WITHIN THE REPUBLIC OF KENYA.

2) REGISTERED OFFICE AND POSTAL ADDRESS

The registered office of the Society shall be at JAMII SACCO COURT, MARIAKANI SOUTH ‘B’ and its postal address shall be: P.O. Box 57929, NAIROBI. Notice of any change shall be given to the Commissioner of Co-operative Development hereinafter referred to as “The Commissioner” and to all members of the Society.

3) DEFINITIONS / INTERPRETATIONS:

• In these by-laws, unless the context otherwise suggests, words or phrases shall be defined/interpreted in accordance with the Co-operative Societies Act, (Amendment) Act No. 2 of 2004 and the Co-operative Societies Rules 2004 made thereunder, hereinafter referred to as the “Act and the Rules” respectively.
• “AGM’ – Means Annual General Meeting – the General Meeting of the members represented by Delegates.
• “Tribunal” means the Co-operative Tribunal established under the Act.
• “Emergency Loan” means a loan whose reasons for request by a member would demand immediate attention and settlement.
• “Executive Officers” consists of the Chairman, Vice-Chairman, Treasurer and the Secretary of the Society elected from amongst the members of the Managing Committee.
• “Financial Year” means in relation to the Society, the period in respect of which its profit and loss account laid before it in a general meeting is made up.
• “Guarantor” means a person or persons who support a member’s application for loan and undertake to contribute an agreed portion of their own savings in the Society to make good any default by the member to repay the loan in full.
• “Member” means an applicant whose name is entered in the register of members in accordance with these by-laws.
• “Nominee” means a person or persons appointed by a member in accordance with these by-laws.
• “Commissioner” means Commissioner of Co-operatives Development.
• “Apex Society” means a Society formed at the national level by the Co-operative Movement in Kenya and registered under the Act to promote Co-operative development and represent the interests of the Co-operative Societies locally and internationally.
• “Capital” means the permanent members’ equity in the form of common stock and includes all disclosed reserves retained earnings, grants and donations.
• “Deposit” means a sum of money paid on terms under which it shall be repaid, with or without interest, or premium, and either on demand or at a time or in circumstances agreed by or on behalf of the depositor and the Society.
• “Share” means the amount represented by a member’s position in the equity of a Society as co-owner.
• “Special resolution” means a resolution passed by two thirds of the members present and voting at a general meeting of a Society.
• “Supervisory Committee” means an oversight Committee elected at a general meeting.
• “SACCO” means Savings and Credit Co-operative Society
• “The Act” means the Co-operative Societies Act.
• “The Rules means the Co-operative Societies Rules.
• “Central Management Committee” means the governing authority in the Society.
• “Reserve Fund” means a fund maintained in accordance with the Act.
• “Liquidation/Dissolution” means the process by which the Society’s life may be determined in accordance with the provisions set forth in the Co-operative Societies (Amendment) Act No. 2 of 2004.

4) Any questions concerning interpretation of these by-laws or any matters not provided for therein, errors and omissions shall be referred to the Co-operative Tribunal whose decision shall be final and conclusive.

5) CO-OPERATIVE PRINCIPLES

The Society shall operate in accordance with the following Co-operative principles: -

a) Voluntary and Open Membership

The primary purpose of the Co-operatives is to serve their members and, as applicable, non members in a prudent and effective manner. Within their capacity to admit members, Co-operatives are open on a voluntary basis, without political religious, gender or social discrimination, to all who can contribute to, and benefit from their activities.

b) Democratic Member Control

Co-operatives are democratic and participatory organizations actively controlled by their members. In primary Co-operatives, members enjoy equal voting rights, on a one member, one vote basis. In Co-operatives at other levels, administration is conducted and control is exercised in a suitable democratic manner.
Men and women responsible for the administration of Co-operatives involve members, Managers, and other employees, according to their roles, in making decisions and setting policies.

c) Economic Participation by Members

Members contribute equitably to the capital of their Co-operative and share in the results of its operations. Usually, at least a portion of a Co-operative’s capital is owned collectively, intended to further the long-term purposes for which the Co-operatives exists. Co-operatives may pay a competitive rate of interest on capital, they compensate employees fairly, according to the standards of the Society in which they exist. Members allocate surpluses for any or all of the following purposes: -

• • • Developing the business of the Co-operative.
    • Benefiting members in proportion to their involvement with the Co-operative, and
    • Encouraging the further development of the Co-operative movement.

d) Education, Training and Information

Co-operatives foster reciprocal, ongoing education programmes for members, leaders and employees, so they can teach – and learn from – each other in understanding and carrying out their respective roles. Co-operatives have a responsibility to inform the general public, particularly young people and opinion leaders, about the nature and benefits of the Co-operative movement.

e) Co-operation Among Co-operatives

In order to best serve the interest of their members and their communities, Co-operatives actively Co-operate in every practical way with other Co-operatives locally, nationally and internationally.

f) Autonomy and Independence

Co-operative are autonomous, mutual – help organizations controlled by their members. If they enter into agreement with governments and other organizations, they do so freely, on mutually acceptable terms that ensure their autonomy.

g) Concern for Community in General

Co-operatives are concerned about the communities in which they exist. While focusing on members’ needs, they strive for the sustainable development of those communities through policies that are respectful of the environment and acceptable to the membership.

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Financials 2023

The Board and Management of the SACCO reviewed and developed the Strategic Management Plan (SMP) for the period 2021 – 2025 to guide the operations of the SACCO. This was done in a participatory process involving all stakeholders and guided by an Independent Consultant. The same is under implementation and in-line with the co-operative principle.

It is the desire of the Board to grow and achieve the targets set in the Strategic Management Plan 2021-2025 in relation to the below areas. The key pillars are as follows:

1. Growth in membership,
2. Quality products and services,
3. Operational efficiency,
4. Institutional capacity.

The SACCO statistical information on growth from 2012-2016 is as follows (Figures in Kshs)

	Year, 2017	Year , 2018	Year ,2019	Year ,2020	Year, 2021	Year, 2022
Membership (No)	19,123	20,964	22,495	22,5432	24,872	27,126
Share capital (Kshs)	132,022,191	148,971,491	172,657,510	196,664,923	246,044,556	292,243,719
Deposits/Savings (Kshs)	2,496,606,477	2,796,942,245	3,165,541,550	3,437,194,888	3,748,605,104	3,658,074,919
Loan to members (Kshs)	2,873,261,602	3,184,993,997	3,580,875,105	3,852,279,171	4,012,738,048	3,971,733,824
Gross Income (Kshs)	471,583,993	532,654,923	580,675,632	597,686,028	662,106,174	631,091,421
Dividend Rate (%)	12%	12.5%	12.5%	12.5%	12.5%	13%
Interest Rebate (%)	11%	11%	11%	10%	10%	9%

 

116,574,780

Vision & Mission

VISION
To be a leading and preferred partner of choice in the provision of financial solutions

MISSION
To mobilize savings and provide credit through innovative products and services in a dynamic business environment to ensure optimum returns and exceptional customer experience

Core Values
In its endeavor to realize its vision and mission, Jamii SACCO upholds the following core values:

1. Integrity

We act morally, ethically, and consistently demonstrate a high degree of honesty.

2. Professionalism

We adhere to impeccable and beyond reproach professional and personal standards in the conduct of our affairs.

3. Customer Focus

We take care of our customer’s financial needs through competitive products and excellent services.

4. Teamwork

 There is close collaboration between our members, Board of Directors (BOD), Supervisory Committee (SC), and staff

5. Equity

We treat all our customers justly and fairly in the provision of services

6. Innovation and Dynamism

We endeavor to meet customers changing needs while responding to the dynamic environment