Savings
Share Capital
Your ownership stake in the Sacco. Share capital makes you a bona fide member and earns you dividends from the Sacco's annual surplus.
- Minimum
- At least one share of Kes 10,000
- Earns
- Dividends, declared at the Annual General Meeting
- Withdrawal
- Shares are not withdrawable. With Committee approval they may be transferred to another member, in writing and at nominal value.
Key features
- Every member must hold at least one share of Kes 10,000.
- No member may hold more than one-fifth of the total shares of the society.
- Share capital cannot be used as security for a loan.
- Dividends are recommended by the Board and approved by members at the AGM.
- Transfers must be registered with the society; a transfer fee applies.