Kenya: Safaricom Investment Co-operative get regulator nod to rebrand

Safaricom Investment Co-operative (SIC) has set to rebrand in an effort to enhance its growth and success.

This follows approval from the Ministry of Co-operatives and Micro, Small, and Medium Enterprises (MSMEs) Development, allowing SIC to adopt a new name, logo, and colors for the society.

In recent years, the cooperative has faced challenges, including a steady decline in dividend payouts to shareholders, which has drawn significant attention.

The rebranding initiative received strong support from its members during a Special General Meeting, as part of a broader strategy aligned with the Society’s 2023-2027 strategic plan aimed at revitalizing its operations.

For the past eight months, the Society has been diligently working on creating a new brand identity to drive growth and diversification.

“As a Society, we strive to align with emerging market trends in a move to ensure that we develop a cutting-edge company image that resonates with the values and expectations of our members,” said Safaricom Investment Co-operative chief executive officer Churchill Winstones.

“We are therefore pleased to receive this go-ahead that will see us soon adopt a new brand identity through the change of our brand name, logo, and brand colors. This is a strategic move that will redefine our brand narrative, thus positioning us for future success.”

He says that the cooperative core focus for 2024 has been building a sustainable operating model, which included rebranding the Society to position it for growth. As of March 2024 the sacco had 5000 investors.