Harambee Savings and Credit Cooperative Society (Sacco) is strengthening its millionaires club to give more of its members the opportunity for extended stakeholder engagements and collaborations.
The strategy seeks to enable them to meet and network with local, regional and international entrepreneurs, exchange ideas and learn how other businessmen deal with challenges in their areas.
The club has also embarked on a series of countrywide tours organising seminars where members are taught the necessary skills to run a business effectively.
Harambee Sacco chairman Macloud Malonza said the move will play a key role in ensuring their members become better placed at making well-informed decisions.
He spoke in Nakuru when he chaired a meeting of the club’s members.
“By participating in local, regional and international trips members will be linked to the right minds in the business world,” Malonza said.
“The millionaires club comes with coaches, and financial advisors and is tailored to give entrepreneurs the much-needed comfort since the journey of setting up a venture is never easy.”
He further noted that the upcoming businessmen have to constantly deal with many challenges that drain them emotionally, financially, and physically, which the club was determined to tackle.
The Millionaires’ club was inaugurated last year.
To be eligible for the club membership, one has to have savings worth Sh1 million and above pooled over some time or deposited in cash via a single instalment.
Harambee Sacco CEO George Ochiri noted that they had developed products for retirees whom he observed have unique needs.
This category of “senior citizens” has unique features such as low minimum monthly saving contribution but with a compromised dividend payment rate.
