Safaricom Investment Co-operative get regulator nod to rebrand

Safaricom Investment Co-operative is looking to rebrand in a bid to boost its fortunes.

This is after SIC received approval from the Ministry of Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Development to adopt a new name, logo and colors for the society.

In recent years the cooperative has been recording spotlight over, consistent reduction of its dividends payout to shareholders.

According to the co-operative, the move received a vote of confidence from its members, during a Special General Meeting, to adopt a new brand identity that seeks to boost the Society’s operations anchored on the 2023-2027 strategic plan. 

The Society has for the past eight months been working on adopting a new look and feel in a bid to spur growth and diversification.

“As a Society, we strive to align with emerging market trends in a move to ensure that we develop a cutting-edge company image that resonates with the values and expectations of our members,” said Safaricom Investment Co-operative chief executive officer Churchill Winstones.

“We are therefore pleased to receive this go-ahead that will see us soon adopt a new brand identity through the change of our brand name, logo, and brand colors. This is a strategic move that will redefine our brand narrative, thus positioning us for future success.”

He says that the cooperative core focus for 2024 has been building a sustainable operating model, which included rebranding the Society to position it for growth. As of March 2024 the sacco had 5000 investors.

“This evolution promises a new, consistent, and enhanced customer experience through world-class products and services as we strive to transform the economic and social well-being of our investors through prudent, sustainable, and responsible investment decisions anchored on financial growth and sustainability,” added Safaricom Investment Co-operative CEO Churchill Winstones.

Formed in 2009 by a portion of Safaricom PLC employees to serve their investment needs, the Society has over the years evolved to include other members of the public and currently encompasses over 5,000 members.