Harambee Sacco ups bid to raise Sh4b from share capital

Co-operatives and Micro Small and Medium Enterprises Development CS Simon Chelugui (centre) with Harambee Sacco National Chairman Macloud Malonza (right) and CEO George Ochiri (left) addressing the media during the launch of the 4 billion shares drive in Nairobi.[Boniface Okendo, Standard]

Harambee Sacco has launched an aggressive membership share drive to strengthen core capital and increase deposits.

The sacco aims to raise Sh4 billion. "Our Share capital stands at Sh2.4 billion. For us to be compliant, we need a minimum of Sh4 billion," said Harambee Sacco Chief Executive George Ochiri.