Gor Mahia Members Launch a Savings and Credit Society (SACCO) to Empower Members and Benefit from a host of Financial Services

NAIROBI, Monday May 18, 2015 – League Champions Gor Mahia FC’s Members have today launched a Savings and Credit Cooperative Organization (SACCO), aimed at enabling its members, mainly drawn from both its sustaining support base and the diaspora to benefit from a host of financial services, while at the same time extending the much needed support to their beloved team.  The Sacco will be called GOR MAHIA SACCO and will operate as a fully -fledged BOSA- SACCO offering credit facilities to qualifying members.

Gor Mahia Sacco was registered in May 2014 under the Co-operative Societies Act and becomes the first Sacco to support the sports industry in Kenya. The SACCO is an independent entity from the football club and will be operated as an economic arm, from which the club can benefit under a defined social responsibility framework.

Speaking during the launch at the Nyayo National Stadium, Gor Mahia FC Chairman Ambrose Rachier said that the SACCO presents powerful opportunities for the young people to benefit from credit facilities and financial advisory services, which are tailored to suit their unique needs and elevate them to an economically productive life.

“Gor Mahia Sacco is an innovation that symbolizes our resilience and creativity as Kenyans in solving the problems that face us today, whether economic, social or political,” said Mr. Rachier.

Mr. Rachier assured that Gor Mahia Sacco will be operated professionally and independently from the club and the chairman of the club will be the only official representative in the SACCO board. He has urged supporting members of the club, and the young people from all over the country to take up the opportunity to register and join the SACCO. 

“Gor Mahia Sacco is a Kenyan innovation aimed at strengthening and sustaining the sports industry for the Kenyan people and therefore is open to all supporting members from every part of our country,” noted Mr. Rachier.

Gracing the official launch, former Prime Minister Hon. Raila Odinga, who is Gor Mahia’s club’s patron, reiterated that the SACCO is a big win for young people in Kenya and is unique testament to the innovation that characterizes the Kenyan nation.

Hon Odinga said: “Today, we are launching something that is truly Kenyan and reflects the inherent Kenyan dream - a Kenya that gives its citizens an opportunity to realize their dreams.”

“It is my sincere hope that the young people will take up this opportunity and join the GOR MAHIA SACCO so as to be able to draw optimal benefits that will empower the socially and economically,” he added.

Gor Mahia sacco chairman Mr Victor Kidiwa says the SACCO has an open membership to individuals as well as corporate organizations and will offer an array of financial support services including: Corporate, emergency, dairy, school fees and personal loans.  The SACCO will also provide SMEs with LPO financing services as well as asset financing.

“Gor Mahia FC will extensively benefit from the SACCO’s social responsibility initiative dubbed Adopt-A-Player Program, which sets out to  encourage individual members to adopt a Gor Mahia FC player by saving for them KES 1,000 per month and eventually mentoring them into financially independent citizens.” 

“The SACCO is capitalizing on the technological innovations in Mobile Money transfers to grow its Savings and real-time credit offering and has provided opportunities for all citizens to be a part of its growth. To join, an individual will be required to pay an entry fee of KES 500 and fully paid up capital of 50 Shares of KES 20 each, to be recovered from one’s total contributions at the end of the year”

“The SACCO will also operate on minimum contributions of KES 50 per days or KES 100, Weekly or KES 200 Monthly. All transactions can be done via MPESA’s AND MOBIKASH PAYBILL NOs.  897260 or through a bank account with Development Bank Account number: 5451034009 and your National ID as your Account Reference Number

“For every registration fee of KES 500 made to the Sacco, Gor Mahia Football Club will receive KES 100, as part of the Sacco’s Social Responsibility Program,” said the Sacco Chairman Mr Victor Kidiwa.