Mt Kenya artistes form sacco, buy Sh8m land

Benga artistes from the Mt Kenya region have ventured into the real estate sector a few months after forming a Sacco.

About 300 artistes have bought Sh8 million land at Kenol town in Maragua, Murang’a county. They plan to put up a commercial building.

The group chaired by renowned artiste John De Mathew came together in January after months of infighting amongst the musicians.

They started feuding in October last year during the burial of artiste Joseph Kamaru when President Uhuru Kenyatta said he would meet them.

Earlier gospel artiste Ben Githae spoke on their behalf to have a sit-down with the President. He said they had been instrumental in the reelection of the Jubilee government.

The artistes failed to agree, however, on who would represent them at the meeting that never materialised. But they came together in January and formed the Tamco sacco.

De Mathew said it was the first time artistes came together in an empowerment group to uplift their welfare. 

He said though widely known and with an extensive fan base, many artistes die in poverty due to lack of unity amongst them.

Under the patronage of Murang'a Governor Mwangi Wa Iria, De Mathew said the group was able to pool resources and buy the land where they want to develop a commercial building.

The chairman praised Wa Iria and called on all artistes and actors to join the sacco.

They plan to invest in various sectors and create a steady income for members.

“The sacco will organise functions to raise money to develop the land until its completion,” De Mathew said.

The governor pledged to help the sacco prosper.

He said most local musicians enjoy riches but end their careers in poverty for lack of a proper investment vehicle.

“Though it is not a Murang’a sacco, I pledge to support it as I do the County Women’s sacco which has a building generating Sh1.5 million monthly,” he said.

The county will help design the building and waive all requisite levies paid during construction.

Wa Iria said the county is in the process of procuring a music studio to partner with the sacco.

“We will procure the equipment but the sacco will operationalise it the same way our 35 milk coolers are run by dairy saccos,” he said.

He urged the sacco to prioritise developing new talent through the music studio and subsidise charges for upcoming artistes.

Wa Iria urged the group to apply for tenders from the county government.

He also asked them to make the sacco an investment platform without offering credit services to avoid squabbles.