Kenya: Safaricom Investment rebrands to SIC Investment Cooperative

Safaricom Investment Co-operative has officially rebranded to SIC Investment Co-operative as part of its strategy to promote growth and diversification.

This name change follows a comprehensive six-month transition process aimed at aligning with the Society’s strategic plan for 2023-2027.

The rebranding process involved engaging with the market, audience, and stakeholders to create a more efficient and solution-oriented client experience. This initiative is part of the Society’s efforts to adapt to the ever-changing market trends that are influencing the current investment landscape. As SIC Investment Co-operative aims for a top position in the industry, it seeks to maintain its reputation as a trusted investment partner by offering a diverse range of products.

Established in 2009, SIC Investment Co-operative focuses on real estate, securities, and private equity. Over the years, it has undergone significant transformation, remained profitable, and consistently assisted investors in achieving financial security. The company’s growth is largely attributed to its robust membership of over 5,000, the acquisition of more than 150 land projects, the issuance of over 4,000 titles to investors, and the successful delivery of over 600 fully paid housing units.

Speaking during the event, Ministry of Co-operatives and MSME Cabinet Secretary, Hon. Wycliffe Oparanya said, “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.”