Safaricom Investment Co-operative has officially changed its name to “SIC Investment Co-operative” in a deliberate effort to spur growth and diversification.
The decision to adopt a new brand identity came after a six-month transitioning process that sought to align the Society’s 2023 -2027 strategic plan, anchored on financial growth and sustainability, increased member mobilisation, and improved internal processes.
“We understand that client choices constantly keep changing and evolving, driven by shifts around the world, technological advancements, and global events leading to a change in consumer behaviour,” said SIC Investment Co-operative Chief Executive Officer Churchill Winstones.
The re-brand process entailed market, audience, and stakeholder engagement, which was aimed at achieving an efficient and solution-oriented client experience, as the Society strives to align with the ever-evolving market trends shaping the current investment space. As the Society continues to go for the top positioning in the industry, its goal is to remain a trusted investment partner of choice through diversified product offerings.
“By rebranding, we strive to ensure that our Society aligns with the evolving business landscape and that our brand image resonates with the values and expectations of our target audiences. We remain committed to providing superior returns to our investors and growth opportunities to our staff, and we will not relent on our determination to invest sustainably,” he added.
Speaking during the event, Ministry of Co-operatives and Micro, Small and Medium Enterprises (MSME) Cabinet Secretary, Hon. Wycliffe Oparanya said that the Government of Kenya recognises the cooperative sector as a critical player in pursuit of Kenya’s socioeconomic growth, equity, and sustainable development.
“Cooperative societies have been identified and prioritised as key enablers of the financial inclusion aspiration of the government as envisioned in the Bottom-Up Economic Transformation Agenda (BETA). Consequent to this, and in an effort by the government to accelerate financial stability and stimulate access to convenient and affordable financing by Kenyans, especially the MSMEs, the government is mobilising the cooperative sector players into a conversation towards improving the management and efficiency in the sector, bearing in mind the recent cases of mismanagement of cooperatives that have led to embezzlement of members funds. The government is also harmonising various legal and regulatory frameworks and realigning them to the current needs and realities as envisioned in BETA; so that it can ensure that we have a well-governed and sustainable cooperative society ecosystem that protects the interests of all the members,” said Ministry of Co-operatives and Micro, Small and Medium Enterprises (MSME) Cabinet Secretary, Hon. Wycliffe Oparanya.
Founded in 2009, SIC Investment Co-operative, whose business hinges on real estate, securities, and private equity, has experienced transformation, remained profitable, and continuously supported investors in achieving financial security.
The company has also experienced growth, largely supported by its more than 5,000 members, acquisition of more than 150 land projects, issuance of more than 4,000 titles to investors, and successful delivery of more than 600 fully paid housing units to investors.