Kimisitu Sacco boosts home ownership with ‘Makao Halisi’ launch

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A new product that enables members of Kimisitu Sacco to own homes at an affordable cost was recently unveiled.The facility, known as “Makao Halisi” was officially launched in Nairobi by the Cabinet Secretary for Industrialization, Trade and Co-operatives, Hon. Adan Mohamed.

Kimisitu Sacco has partnered with a design and building contractor in facilitating construction of houses for its members with 100% financing. The expanded Polystyrene (EPS) technology, which has its origins in Malaysia, involves use of light weight panels which provide permanent formwork to reinforced concrete for columns and beam structures.

This technology is a game changer in the real estate industry as it is able to deliver complete units in a short period of time, that is, thirty days (30) for bungalows and sixty days (60) Maisonettes.

The benefits of EPS include design flexibility, reduced construction time, reduced construction cost, high quality structure, sound and fire insulation, low maintenance cost and environment friendly. The technology can be used in residential building (Flats, Bungalows and Maisonettes), commercial buildings, schools, clinics and dispensaries.

Home ownership has also been made possible by the Sacco’s investment arm, Kimisitu Investment Company Limited, which is able to provide affordable land to its members while the Sacco facilitates financing.

The successful launch and implementation of the Makao Halisi product will see more than half of Kimisitu Sacco members, majority of whom are first time homeowners, get entitled to modern housing across the country.

Kimisitu Sacco was founded in 1985 and has over 7,000 members drawn from over 400 organizations in Kenya. Its mission is to empower members economically by providing quality financial services through prudent mobilization of resources and excellent customer care. The Sacco commanded an asset base of Ksh 3.6 billion, Ksh 3.2billion loan book and a turnover in excess of Ksh 438 Million according to the 2015 financial year report.


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