Self-help group licensed as housing society
Club One Hundred, a Kitale-based self-help group, has been licensed by the Ministry of Co-operatives and Marketing in Kenya to operate as a housing co-operative society. The group, to be known as Club One Hundred Housing Co-operative going forward, already owns the 200-unit Nyayo Market in Kitale.
It now plans to put up a 100-room building in the town at a cost of Sh140 million besides developing other properties. Samuel Warui, Trans-Nzoia East District co-operatives officer, said there was need for more housing co-operatives in the county to meet the demand by encouraging more people to save for housing. “The population of Kitale town has really increased and business is also doing well and investing in buildings is now a lucrative,” said Warui when he handed over the certificate to the new co-operative.
“Maize comes once in a year, how can a farmer wait for a year when he can diversify to construction of buildings which can generate income in the owner’s life time?” he posed. The group has acquired five plots, according to the chairman Lucas Njogu. He said the co-operative will mainly invest in commercial buildings for rental in the town. It will target churches, colleges and universities in the region to rent its conferencing facilities.
The number of institutions in Kitale has increased with Jomo Kenyatta University of Agriculture and Technology (JKUAT), Moi University, Mt. Kenya University (MKU), Kabarak University and Kisii University College having opened campuses recently.