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Kimisitu Sacco
heri
#1 Posted : Monday, December 19, 2016 6:05:35 PM
Rank: Member


Joined: 9/14/2011
Posts: 499
Location: nairobi
What do you guys think about putting money in Kimisitu Sacco by buying more shares where they pay dividends at a rate of 40% each year for the last couple of years

Swenani
#2 Posted : Monday, December 19, 2016 6:25:32 PM
Rank: User


Joined: 8/15/2013
Posts: 11,231
Location: Vacuum
heri wrote:
What do you guys think about putting money in Kimisitu Sacco by buying more shares where they pay dividends at a rate of 40% each year for the last couple of years



What? Is that a pryamid scheme? 40% what are they selling? Meth?
"If you're tired of arguing with strangers on internet, try talking to one of them in real life"-Barack Obama 10th January 2017
Lolest!
#3 Posted : Monday, December 19, 2016 7:18:52 PM
Rank: Elder


Joined: 3/18/2011
Posts: 9,648
Location: Kianjokoma
Swenani wrote:
heri wrote:
What do you guys think about putting money in Kimisitu Sacco by buying more shares where they pay dividends at a rate of 40% each year for the last couple of years



What? Is that a pryamid scheme? 40% what are they selling? Meth?

Waah. Hata mimi amesangaa!

Nani member hapa?
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
kaka2za
#4 Posted : Monday, December 19, 2016 7:46:27 PM
Rank: Elder


Joined: 10/3/2008
Posts: 2,443
Location: Gwitu
heri wrote:
What do you guys think about putting money in Kimisitu Sacco by buying more shares where they pay dividends at a rate of 40% each year for the last couple of years



Run, Run for your dear life!
radio
#5 Posted : Monday, December 19, 2016 8:15:41 PM
Rank: Veteran


Joined: 11/9/2009
Posts: 1,899
heri wrote:
What do you guys think about putting money in Kimisitu Sacco by buying more shares where they pay dividends at a rate of 40% each year for the last couple of years



They pay 40%? I'm surprised because I know members of this SACCO but I've never heard them mention it.

It's an NGO workers only. Right?
Ryko
#6 Posted : Monday, December 19, 2016 8:44:53 PM
Rank: New-farer


Joined: 5/27/2016
Posts: 48
Location: Nairobi
Are you sure 40%? i have many friends there and they have lots of constructions hadi magorofa ushago. The only challenge i noted they always faced is getting guarantors to sign for their loans. The trick was having many friends and colleagues. When you join as an NGO staff and have several friends it looked great, Most of the staff always encouraged us to join ndio tuwaguarantee. ....Maneno ya 40% hapana jua. I think its a great sacco if you have many pals and you have bad saving habits
Kurious
#7 Posted : Tuesday, December 20, 2016 8:51:23 AM
Rank: New-farer


Joined: 6/26/2013
Posts: 15
heri wrote:
What do you guys think about putting money in Kimisitu Sacco by buying more shares where they pay dividends at a rate of 40% each year for the last couple of years



Hapana Shame on you
faa
#8 Posted : Tuesday, December 20, 2016 9:16:24 AM
Rank: Member


Joined: 5/8/2007
Posts: 653
its 40% interest on shares not on deposits.

obiero
#9 Posted : Monday, January 23, 2017 10:31:30 PM
Rank: Elder


Joined: 6/23/2009
Posts: 5,619
Location: nairobi
Lolest! wrote:
Swenani wrote:
heri wrote:
What do you guys think about putting money in Kimisitu Sacco by buying more shares where they pay dividends at a rate of 40% each year for the last couple of years



What? Is that a pryamid scheme? 40% what are they selling? Meth?

Waah. Hata mimi amesangaa!

Nani member hapa?

A fool and her money are soon parted
Gathige
#10 Posted : Tuesday, January 24, 2017 12:20:56 PM
Rank: Veteran


Joined: 3/29/2011
Posts: 1,292
obiero wrote:
Lolest! wrote:
Swenani wrote:
heri wrote:
What do you guys think about putting money in Kimisitu Sacco by buying more shares where they pay dividends at a rate of 40% each year for the last couple of years



What? Is that a pryamid scheme? 40% what are they selling? Meth?

Waah. Hata mimi amesangaa!

Nani member hapa?

A fool and her money are soon parted



As clarified by @faa, 40% is on Share capital ( not on savings) and its upto a max of Kshs 30,000.

Kimisitu is a very solid SACCO


C&P

Dear Valuable Member,

During the last AGM, members approved increase of share capital by Ksh.5,000 annually to KSh. 30,000 by the year 2020.

However, we encourage you to increase your share capital early and stand to gain from the high and attractive rate of return annually (higher than Interest on Deposits)! Dividends on shares payments rate for the last five years at a glance.

Dividend on members' shares(Rate)
Year
2015- 40%
2014-40%
2013-30%
2012-30%
2011-10%

Benefits to you for holding more share capital:
Increased earnings every year through dividend on shares.
Increased wealth as a Kimisitu Shareholder.
Increased share capital builds on the capital structure of the Sacco hence providing more sustainability and guaranteeing members services now and in the future.
Increase your share capital now by sending your contributions through our various modes of payment including MPESA, bank transfer, Cheque. Send your banking slip through finance@kimisitusacco.or.ke and clearly indicate “Payment for Share capital”

Let’s grow our wealth as we continue to “partner to prosperity”
Kind regards,
"Things that matter most must never be at the mercy of things that matter least." Goethe
heri
#11 Posted : Tuesday, January 24, 2017 1:40:28 PM
Rank: Member


Joined: 9/14/2011
Posts: 499
Location: nairobi
Gathige wrote:
obiero wrote:
Lolest! wrote:
Swenani wrote:
heri wrote:
What do you guys think about putting money in Kimisitu Sacco by buying more shares where they pay dividends at a rate of 40% each year for the last couple of years



What? Is that a pryamid scheme? 40% what are they selling? Meth?

Waah. Hata mimi amesangaa!

Nani member hapa?

A fool and her money are soon parted



As clarified by @faa, 40% is on Share capital ( not on savings) and its upto a max of Kshs 30,000.

Kimisitu is a very solid SACCO


C&P

Dear Valuable Member,

During the last AGM, members approved increase of share capital by Ksh.5,000 annually to KSh. 30,000 by the year 2020.

However, we encourage you to increase your share capital early and stand to gain from the high and attractive rate of return annually (higher than Interest on Deposits)! Dividends on shares payments rate for the last five years at a glance.

Dividend on members' shares(Rate)
Year
2015- 40%
2014-40%
2013-30%
2012-30%
2011-10%

Benefits to you for holding more share capital:
Increased earnings every year through dividend on shares.
Increased wealth as a Kimisitu Shareholder.
Increased share capital builds on the capital structure of the Sacco hence providing more sustainability and guaranteeing members services now and in the future.
Increase your share capital now by sending your contributions through our various modes of payment including MPESA, bank transfer, Cheque. Send your banking slip through finance@kimisitusacco.or.ke and clearly indicate “Payment for Share capital”

Let’s grow our wealth as we continue to “partner to prosperity”
Kind regards,


@Gathige, There is no limit of sh 30,000. If someone wanted to increase beyond the sh 30K it is allowed
Swenani
#12 Posted : Tuesday, January 24, 2017 3:00:27 PM
Rank: User


Joined: 8/15/2013
Posts: 11,231
Location: Vacuum
I have never joined a sacco, could someone enlighten me? 1.Where do Saccos get the money to pay interest on shares at 12%+ of they lend out the same money at a rate of 12%(Infact less than that since its 1% pm on a reducing balance)
2. How do they finance their operations if a sacco can pay interest of 40% on share capital and 12% on deposits yet lend at 1% per month on reducing balance
3. If everyone paid of their loans, would all the members get their deposits and share capital ama saccos are pryamid schemes with strong fundamentals i.e endless contributions of members
"If you're tired of arguing with strangers on internet, try talking to one of them in real life"-Barack Obama 10th January 2017
heri
#13 Posted : Monday, February 20, 2017 9:59:36 PM
Rank: Member


Joined: 9/14/2011
Posts: 499
Location: nairobi
AGM is this coming Saturday
heri
#14 Posted : Monday, February 20, 2017 10:07:33 PM
Rank: Member


Joined: 9/14/2011
Posts: 499
Location: nairobi
AGM is this coming Saturday
Bigchick
#15 Posted : Thursday, February 23, 2017 12:50:35 PM
Rank: Elder


Joined: 2/8/2013
Posts: 2,485
Location: At Large.
Swenani wrote:
I have never joined a sacco, could someone enlighten me? 1.Where do Saccos get the money to pay interest on shares at 12%+ of they lend out the same money at a rate of 12%(Infact less than that since its 1% pm on a reducing balance)
THEY GET FUNDING BY POOLING TOGETHER MEMBER SAVINGS AND SUBSCIPTION FEE.THE MONEY IS AT ZERO INTEREST HENCE ABLE TO CHARGE 1%.HOWEVER THIS MODEL IS OUTDATED AND SACCOS HAVE BECOME INNOVATIVE.ONLY NORMAL DEVELPONENT LOANS ARE AT 1%.
2. How do they finance their operations if a sacco can pay interest of 40% on share capital and 12% on deposits yet lend at 1% per month on reducing balance

THEY RELY ON THE INNOVATIVE PRODUCTS THEY HAVE DEVEPOED.EG SALARY ADVANCE AT 10%,BIASHARA PLUS AT 2% ETC.THEY ALSO INVEST EXCESS CASH IN INCOME EARNING VENTURES.
3. If everyone paid of their loans, would all the members get their deposits and share capital ama saccos are pryamid schemes with strong fundamentals i.e endless contributions of members

YES THEY WOULD ALL GET BUT WITH OUR CROOKED MANAGERS THIS MAY NOT HAPPEN.



Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
heri
#16 Posted : Friday, March 03, 2017 8:26:34 PM
Rank: Member


Joined: 9/14/2011
Posts: 499
Location: nairobi
heri wrote:
What do you guys think about putting money in Kimisitu Sacco by buying more shares where they pay dividends at a rate of 40% each year for the last couple of years



Great and bumper harvest for me who put in money in Dec 2016. A return of 30% after 2 months is almost too good to be true but it is true!
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