August 17, 2022

Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya

The Leading Newspaper for Co-operative Movement in Kenya

Sacco eyes property growth

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By Joyce Mong’are.

Meru Central Cooperative Union has diversified its operations for more revenue generation to enable them finance their operations without any funding from the farmers.
Imenti House on Nairobi’s Moi Avenue is to be upgraded into a 25-storey building by the union.The group will also develop a shopping mall and a storeyed commercial office block in Meru town. This is part of its strategy to diversify its revenue sources.
“Plans are at an advanced stage and we are currently looking for financiers of the projects,” said the union’s Chief Executive Officer, Fredrick Mburugu. Due to tenancy terms in Nairobi, the redevelopment of Imenti House will start in three years by which time the union will have money to improve the property.