By Benedict Ngetich
Kericho based Ndege Chai Housing Cooperative Society has revealed plans to venture into income generating activities other than tenancy and sale of plots and tea for increased revenue.
Mrs Edna Chepkwony, the Sacco’s Chairperson, noted that the society has continued to pursue other business opportunities with other stakeholders with a view of increasing revenue streams.
She revealed that the Sacco has plans to utilize Ksh 7.5 million to complete all the five stalled projects in Kericho town and that the board engaged the services of a quantity surveyor who noted that Ksh 1.5 million per unit is needed.
Speaking during the 13th Special Delegates Meeting (SDM) last year, the Chair said the board had proposed to borrow the amount for the construction of the five units.
The project to be jumpstarted comprises of two blocks: A and B. Block A has 3 units while block B has two units. This will make a total of five units of 2 bedroom apartments in each floor and an aggregate of 24 apartments in total since the two mezzanine floors in each block has four extra units.
“The board deliberated on ways of jumpstarting the project and came up with a proposal to construct a roof to cover 5 units within the ground floor in each block to leverage on losses which might occur due to wear and tear given that the project is exposed to rains,” she added.
On acquisition and sale of their plots, the chairperson said the board managed to sell 31 out of the 61 plots available last year.
Mr Daniel Sang, the chairman of the parent Ndege Chai Sacco, congratulated the board of the housing society for being aggressive in their endeavours.
He promised to fully support the cooperative financially and assured them that once complete, the housing units will generate good income.
Mr. Sang urged the board to be vigilant and to exercise due diligence while purchasing land since duplicity was rife in the exercise.
Mr Gilbert Bett, the CEO of Ndege Chai Sacco, thanked the society for prudently managing resources and urged the delegates to aggressively market their plots to attract more customers so as to generate good income.
Mr. Leonard Otii, Kericho County Director of Cooperatives, thanked the board for their hard work which he noted had seen an increase in dividend payments from a meager 1.8 per cent to the current 7 per cent.
He advised the delegates to be supportive of the board through generating good ideas and pushing their agenda to fruitful conclusion.