This archive report was first published on 24 June 2020.
On June 24, 2020, Harambee Savings and Credit Co-operative Society (SACCO) made a significant move in the financial sector by launching a VISA branded Debit Card in collaboration with Co-operative Bank of Kenya.
The new debit card allows members to instantly receive and use the card for transactions at any Visa-branded outlet, including ATMs, Coop Bank Kenya Agents, and online stores.
As the 4th largest deposit-taking SACCO in Kenya, Harambee SACCO boasts total assets worth more than KSh 26.3 billion, making it a significant player in the country's financial landscape.
Despite facing challenges in the property market, Harambee SACCO has set its sights on customer focus, technology, staff empowerment, growth of non-funded revenue, and disposal of idle assets to drive growth.
Chief executive George Onchiri explained that the sale of some of its Sh1.7 billion land and developed properties has been deferred due to the depressed property market, with plans to sell the properties when the market regains its robustness.
The SACCO has a diverse portfolio of properties, including land in Kisumu, Siaya, and Nanyuki, as well as prime properties in Westlands and developed units in Limuru, Mombasa, and Kisumu.
