Jamii Benevolent Fund (JBF)
This is a self insurance scheme that covers all loans in the SACCO except Micro Finance which are insured separately. Every member must contribute a minimum of Kshs. 300.00 per month so as to be fully covered. The purpose of JBF is:
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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.
National Chairperson
Mr. Harrison Katoni
Vice Chairman
Mr. Harrison Tinga
Treasurer
Mr. Ambrose Ogango
Chief Executive Officer
CPA Daniel Achieng'
Secretary
Ms. Vicky Maiyo
Director
Mr. James Kiretai
Director
Mr. Jonathan Mengich
Director
Mr. Elijah Letangule
Director
Mr. Henry Mayabi
Director
Mr.Tom Onchari
Chairperson Supervisory Committee
Mr. Samuel Mulwa
Secretary supervisory Committee
Mr. Ongonge
Member Supervisory
Ms. Bennetah Wafukho
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:
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: -
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.
Financials 2023
Chief Executive Officer
CPA Daniel Achieng'
Chief Manager Finance & Strategy
CPA Sudi M.B. Justus
Chief Manager Operations
CPA Simon Muniu.
Manager Human Resources & Admin
Ms. Janett Ndirangu
Manager ICT
Mr. Peter Owango.
Manager Internal Audit
CPA. James Lanyo
Manager Debt Management
Mr.Amos Morogo
Manager Loans
Mr. Michael Nzuma
Principal Officer Procurement
Mr. Cyprian Ntonja
Principal Officer Customer Relations
Ms. Mildred Apondi
A.g Principal Officer Sales & Marketing
Mr. Fairfax Muthui Mwalwa
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:
The SACCO statistical information on growth from 2012-2016 is as follows (Figures in Kshs)
Year , 2018 | Year ,2019 | Year ,2020 | Year, 2021 | Year, 2022 | Year, 2023 | |
---|---|---|---|---|---|---|
Membership (No) | 19,123 | 20,964 | 22,495 | 22,5432 | 27,126 | 25,523 |
Share capital (Kshs) | 132,022,191 | 148,971,491 | 172,657,510 | 196,664,923 | 292,243,719 | 339,640,473 |
Deposits/Savings (Kshs) | 2,496,606,477 | 2,796,942,245 | 3,165,541,550 | 3,437,194,888 | 3,658,074,923 | 3,857,957,509 |
Loan to members (Kshs) | 2,873,261,602 | 3,184,993,997 | 3,580,875,105 | 3,852,279,171 | 3,971,733,824 | 3,995,586,018 |
Gross Income (Kshs) | 471,583,993 | 532,654,923 | 580,675,632 | 597,686,028 | 631,091,421 | 648,762,595 |
Dividend Rate (%) | 12% | 12.5% | 12.5% | 12.5% | 13% | 13% |
Interest Rebate (%) | 11% | 11% | 11% | 10% | 9% | 10% |
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
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