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Maisha Bora Sacco – Contacts, Branches, Loans, Offices: Sometime in the autumn of 1974, a small group of Unilever (Then East Africa Industries Ltd ) factory workers whirled away their mid-morning break over a cup of tea.
They mulled over their life challenges mostly revolving around personal financial needs. Yet at that time of the month they wouldn’t access any salary advance from the HR department and their money lender wouldn’t consider them for a second loan until the first one was repaid.
They were concerned that they could no longer meet the rising cost of living against ‘flat pay slips’. There were a myriad of bills to be settled and yet end month seemed an eternity. But wait! Someone had an idea. They could form a savings scheme to collect individual savings and advance loans from the pool. And voila! Kimbo Sacco was born!
Maisha Bora Sacco
The objective of the society was to create a vehicle to promote a savings culture among the employees of Unilever and to lend out short term micro loans to the members for personal development, school fees and medical expenses.The society was registered and lived under the name Kimbo Sacco until October 2003 when we acquired our current name Maisha Bora Sacco after the sale of Kimbo brand by Unilever. This development further created an opportunity for the Sacco to broaden the common bond to accommodate members outside our traditional bond of Unilever and Research International. The change of name also reflected the diversity in our membership further leveraging the strategic direction to grow the Sacco.
Over the years the society has grown from strength to strength to become a commercially autonomous, democratically controlled and self-reliant business enterprise. This is due to the support received from our members and other stakeholders at large. Currently, our asset base stands at 2.08 billion; our loan portfolio is 1.8 billion. The assets are supported by member deposits of 1.7 billion, share capital of 101 million and other liabilities. The Sacco has also experienced growth is staff numbers and professional experience.
Maisha Bora Sacco has achieved key milestones as under:-
• Acquired SASRA licence in 2012
• Attained a 1 billion loan book in 2015
• Attained a 2 billion balance sheet in 2015
• Attained double digit dividend/interest payout for over the last 5 years
• Implemented a core ICT platform
• Pride to have the highest Sacco saver in Nairobi County
• Being able to accommodate alternative loan collateral e.g. Property besides guarantors
Maisha Bora M-Sacco
M-Sacco is an online service that enables members to transact on their FOSA account via mobile phone, i.e.withdrawals, funds transfer, mini statement, balance inquiries, borrowing mobile loan, etc.
Maisha Bora Sacco Paybill Numbers
Maisha Bora Sacco: 600109
Maisha Bora SACCO Paybill: 600110
Maisha Bora Sacco Loans
Development Loan
Emergency Loan
School Fees loan
Instant Loan
Special Loan
Refinancing (Spec) Loan
Boresha Makao Loan
Karibu Loan
Karibu Tena Nyumbani (KTN)
Motor Vehicle Loan
Bima Loan
Okoa Jahazi Loan
Share Capital Loan
Share Reinstatement Loan
Maisha Bora Sacco Contacts
Maisha Bora Sacco Society Limited
Unilever Kenya Ltd, Commercial Street, Industrial Area
P. O. Box 72713-00200
Nairobi,Kenya
customercare@maishaborasacco.com
Tel: 020 65566 14/18
Mobile: +254 703 567 500
Betty is a qualified teacher with a Bachelor of Education (Arts). In addition, she is a registered Certified Public Accountant. She has been teaching and offering part-time accounting services for the last 10 years. She is passionate about education, accounting, writing, and traveling.