Housing Sacco lavishes Sh4 million dividend on members

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By James Wakahiu

Over 5,260 shareholders of Broad Borders Housing Co-operative have received Sh4 million dividends for the year ended December 2017.
In an annual general meeting held at a hotel in Murang’a, the shareholders resolved to be paid dividends at a rate of 12 per cent.
The Housing Co-operative Chairman Jeremy Karemeri said the payout was a remarkable milestone, adding that not many co-operatives were able to give out dividends.
Karemeri said the co-operative is constructing Sh200 million worth hostels project with the first phase of 107 units almost complete.
He said they target 360 units and the co-operative was considering getting a partner.
The chairman also said that the final unit will have a swimming pool and other social amenities thus making the place posh.
The co-operative also plans to undertake construction of maisonettes and bungalows for shareholders.
The society’s turnover grew to over half a billion shillings during the year.

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