SAFARICOM SACCO ~ Last Expense Rates and SACCO Membership Application Form

Unashig Kenya PLC will soon be joining the Safaricom Sacco family. One appealing aspect of the Sacco's products and related benefits is certainly the Last Expense package. In order to participate in the Last Expense initiative, you must first join Safaricom Sacco. We suggest that you do so through Unashig Kenya PLC.

In order to have at your fingertips the details of the Last Expense offer, as well as the rates that apply, please tap on the link below. It will take you directly to the Last Expense Application Form. You may download and start filling it, but please wait a little until we finalize certain protocols with the Sacco management. More importantly, we still need full clarity from Safaricom Sacco about when those who wish to join it through Unashig can most effectively do so. We hope to have this clarity in two weeks or so. 

LINK: Click/Tap to find the current Last Expense Rates as well as the Sacco Membership Application Form (in Pdf) 

In summary, the Last Expense product offers you FOUR options to choose from, depending on the amount of compensation that you wish to have and can afford in terms of continuous monthly contributions. All details of the cover options that you need to choose from are shown in Section C of the Membership Application Form. Do remember that a participating family will be able to make up to five (5) Last Expense claims per year, depending on verifiable need.

Here below are the four monthly premium options PER NUCLEAR AND/OR EXTENDED FAMILY (all adding up to a maximum of 14 individuals):

1. PREMIUM A: KES 300/- per month: 

BENEFIT (i.e. Compensation Amount):

(a) Self = 100,000/-,  (b) One Spouse = 100,000/-, (c) Parents (1 or 2?, will seek        clarification) = 50,000/- (each?), (d) Your Children (up to 4) = 50,000/-, (e) Brother/Sister (up to 4): 20,000/-, (f) Parents-in-Law (up to 2) = 50,000/-.

2. PREMIUM B: KES 600/- per month: 

BENEFIT (i.e. Compensation Amount):

(a) Self = 200,000/-,  (b) One Spouse = 200,000/-, (c) Parents (1 or 2?, will seek        clarification) = 80,000/- (each?), (d) Your Children (up to 4) = 80,000/-, (e) Brother/Sister (up to 4): 40,000/-, (f) Parents-in-Law (up to 2) = 80,000/-.

3. PREMIUM C: KES 900/- per month: 

BENEFIT (i.e. Compensation Amount):

(a) Self = 300,000/-,  (b) One Spouse = 300,000/-, (c) Parents (1 or 2?, will seek        clarification) = 140,000/- (each?), (d) Your Children (up to 4) = 140,000/-, (e) Brother/Sister (up to 4): 60,000/-, (f) Parents-in-Law (up to 2) = 140,000/-.

4. PREMIUM D: KES 1,200/- per month: 

BENEFIT (i.e. Compensation Amount):

(a) Self = 400,000/-,  (b) One Spouse = 400,000/-, (c) Parents (1 or 2?, will seek        clarification) = 150,000/- (each?), (d) Your Children (up to 4) = 150,000/-, (e) Brother/Sister (up to 4): 80,000/-, (f) Parents-in-Law (up to 2) = 150,000/-.

NB: Safaricom Sacco offers a range of benefits to its members, besides Last Expense. Among these are loan and investment products, such as: loans for the purchase of a motor vehicle, shamba, or rental (or AirBNB) apartment; or for building a new house in Shags. 

INVITATION TO JOIN SAFARICOM SACCO THROUGH UNASHIG KENYA PLC

The Board of Directors of Unashig Kenya PLC is pleased to invite the company's shareholders as well as all UoN employees and other Kenyans elsewhere to join us in our quest to be participants in Safaricom Sacco's journey toward a more prosperous future. Please find via the link below the basic information that you need join Safaricom Sacco through Unashig. Please find via the link below authoritative and detailed information under 'one roof' about what it takes to join Safaricom Sacco through Unashig:

LINK: https://safaricomsacco.com/   

The first point we wish to reiterate is that our idea of Unashig Kenya PLC -- focusing from the beginning on both Health & Wealth -- links seamlessly with Safaricom Sacco's own vision and mission. With Safaricom Sacco, it is all about grouping together to help participants build the future that they aspire to reach. .  and have.

This is what Safaricom Sacco Does:

1) It offers various kinds of loans; Development Loans, Premium Loans (for Health Insurance, etc), Car Loans, and Asset Finance Loans. 

2) It admits Corporates, Individuals who are unattached to any organization, and Individuals who are Members and/or Employees of its Corporate Members. Indeed, membership applications by individuals are expected to pass through the Organizations in which they are currently members. Thus, it is envisaged that Unashig Members-cum-shareholders will benefit by joining the Sacco directly through Unashig Kenya PLC. The added benefit here is that they would find it easier to get guarantors among participating Unashig Members. As an organization, however, it will be imprudent to act as a guarantor for any Member -- and inadmissible to ask Members to be Unashig's guarantors.

Here are the various requirements and charges levied by Safaricom Sacco:

A) Safaricom Sacco's Membership Requirements/Charges For Individuals Seeking to Join It:

1) One-off Membership (Application) Fee: 1,000/-

2) Minimum Monthly Deposit (of share capital?): 3,000/-

3) Minimum Share Capital = 400 shares @ 100/- = 40,000/- 

 [This share capital should be paid within 12 months; that is, at the average monthly rate of 3,334/-. We will seek to find out if Monthly Deposit and Share Capital refer to the same or different obligations]

4) CRB Report (for each participating individual).

5) Qualification for a loan is met after 6 months of consistent savings (i.e. Minimum Monthly Deposit or Share Capital???) for long-term loans, and 3 months for short-term loans [ We are still to confirm how long-term and short-term loans are defined here].

6) One can make monthly contributions to Safaricom Sacco through various direct channels: Standing Orders, Payroll deductions, cheques, over-the-counter bank deposits, or M-Pesa. [Note: No payment whatsoever will be made by individual Members through Unashig Kenya PLC]

B) Safaricom Sacco's Membership Requirements/Charges For Corporates/Organizations Seeking to Join It:

1) One-off Membership (Application) Fee: 2,000/-

2) FOSA Monthly Deposit (Minimum): 5,000/-

    [Minimum A/C Balance = 5,000/-]

3) Minimum Shareholding = 20,000/-

4) Loan Eligibility for registered companies, Chamas and Investment Groups = Up to KES 3 Million.

Finally, and in view of the foregoing, the Board of Unashig Kenya PLC on March 22nd, 2023 approved the following requirements for Members or any other individuals or organizations who may seek to join Safaricom Sacco through Unashig Kenya PLC:

a) Pay Unashig a one-off charge of KES1,500/- for Safaricom Sacco Membership Processing. 

b) Own or purchase at least three (3) Unashig Shares -- that is CA and/or CB shares, depending on their Unashig Membership eligibility. The minimum number of shares required may change from time to time, as the Board may determine. Those who are buying three Unashig shares to become Unashig Members will in addition pay the current one-off Unashig Membership processing fee of KES1,500/-.

PERTINENT QUESTIONS & ANSWERS:

1. Is Unashig going to admit or recruit members from outside the UoN into Unashig Kenya PLC?

A: 1) Yes, individuals who are not UoN employees are eligible to join Safaricom Sacco through Unashig, and then participate directly in the Sacco's investment activities, such as: buying land or other property (including completed housing) for one's family. They can also borrow directly from the Sacco to buy a car or pay for the car's annual insurance premium. Indeed, Unashig already has a sizeable number of shareholders who are not employees of the UoN -- and who are already participating in the Old Mutual group insurance scheme through Unashig.

Q 2. Will we also admit UoN Dons or any other individuals who have no insurance cover through Unashig?

ANS Yes, we will soon start marketing this opportunity among current Unashig Members as well as those who are not yet Members. Furthermore, Unashig Members are free to encourage anyone they know to join the Sacco. All that Unashig is allowed to do is to officially forward their details so that their Membership is linked to Unashig in Safaricom Sacco's records. IMPORTANTLY: All payments and deposits to the Sacco will be made directly by individual Members to designated Safaricom Sacco.

However, those who join through Unashig will be required to own at least 3 Unashig shares at the going rate, and pay a one-off Unashig Membership fee of KES1,500/-. As is the practice already, these two payments are made to Unashig.

All individuals who wish to join Safaricom Sacco through Unashig will have their details forwarded by Unashig -- as is required by Safaricom Sacco.

For further info, please call:

1) +254 721 931219

2) +254 754 016462

Or Send Email To: 

--   unashig.kenya@gmail.com 

UNASHIG's Share Price and Market Capitalization of Holdings Quoted on the Nairobi Securities Exchange _ May 22-26 2023

For a Background to this series of summaries at the close of each trading day, please READ: "Introduction to Trends in Unashig's CBshare Price and Market Capitalization" 

Share Price and Market Capitalization at the Close of Specified Days of the Week. 

Friday, May 26th, 2023.

The week closed with all metrics garnering gains, as the list below shows. CBshare led the pack with a 0.60% lift, to close the day, and week, at KES1,605.11 (or US$11.60, at a forex rate of KES138.35 per US$). Yesterday's leading index, NSE 20, closed in third position. It was displaced from the top perch by CBshare: 

  

1. CBshare price (25 counters): +0.60%* 

2. NSE 25 Index: +0.55% 

3. NSE 20 Index: +0.49%

4. NASI (NSE All-Share Index): +0.27%.

*** KES1,605.11 is the new price at which a CBshare will now sell -- until 5:00 PM, Friday, May 26th, 2023. As is the practice at the bourse (and in keeping with Unashig's pegging principle), a buyer will need to add to the stated price the standard stock trading charges that apply at the NSE -- that is, 3.55% of the price of each CBshare bought (up to 9 CBshares in one day's transaction).

Unashig's market capitalization also recorded a 0.60% gain, to close at KES5,551,455.50 (or US$40,126.17 at today's forex rate).  

On a YTD (Year-To-Date) basis, the price of a CBshare improved somewhat, even though it still closed in the negative (-15.38%). Unashig's market capitalization also recorded minor improvement, though it still closed in the negative (-13.48%). However, market capitalization at the Nairobi Securities Exchange, as a whole, stayed put at -22.73%, YTD, with a valuation of KES1.53 trillion.  

Looking farther back to end-of-year 2021, Unashig's market capitalization crawled upward, with a reduced loss of -26.14%, compared to Wednesday (-26.58%). Market capitalization at the NSE as a whole remained unchanged, however, at -40.47% (or KES1.53 trillion). 

Thursday, May 25th, 2023.

Thursday closed with only NSE 20 Index posting some gains (+0.32%). Furthermore, it remained in the top position for the second day in a row. The price of a CBshare lost some lift (-0.12%) in the day's churn, ending at KES1,595.51 (or US$11.54, at a forex rate of KES 138.30 per US$). Nevertheless, it also retained its position 2 placing. 

Here below is today's ranking:  

1. NSE 20 Index: +0.32% 

2. CBshare price (25 counters): -0.12%*

3. NASI (NSE All-Share Index): -0.90%

4. NSE 25 Index: -0.92%.

Unashig's market capitalization dipped by 0.12% as well, to close at KES5,518,254.00 (or US$39,900.61 at today's forex rate).  

On a YTD (Year-To-Date) basis, the price of a CBshare fell further, to -15.89%. Unashig's market capitalization also fell a little further, closing at -14.00%. Market capitalization at the Nairobi Securities Exchange, as a whole, dipped to -22.73%, YTD.  

Looking farther back to end-of-year 2021, Unashig's market capitalization recorded yet more loss (-26.58%), compared to Wednesday (-26.49%). Market capitalization at the NSE as a whole also contracted (to -40.47%), closing at KES1.53 trillion. 

Wednesday, May 24th, 2023.

Once again, all metrics closed higher -- into positive territory. The price of a CBshare  spiked noticeably to a 1.11% gain, to close at KES1,597.39 (or US$11.57, at a new/ worse forex rate of KES138.10 per US$. Its ranking consequently rose one notch, from third to second. NSE 20 Index led the pack for the day, however, closing with a 1.37% gain. Here below is today's ranking:  

  

1. NSE 20 Index: +1.37% 

2. CBshare price (25 counters): +1.11%*

3. NSE 25 Index: +1.09%

4. NASI (NSE All-Share Index): +0.59%.

Unashig's market capitalization rose by 1.11% as well, to close at KES5,524,757.00 (or US$40,005.48 at today's forex rate).  

On a YTD (Year-To-Date) basis, the price of a CBshare improved today, but still remained with a 15.79% loss. Unashig's market capitalization closed at -13.89%, which was nearly a one percentage point improvement from Tuesday. However, market capitalization at the Nairobi Securities Exchange, as a whole, remained static at -22.22%, YTD.     

Looking farther back to end-of-year 2021, Unashig's market capitalization recorded a narrower loss of 26.49%, compared to the previous day (-27.30%). In comparison, today's market capitalization at the NSE as a whole remained unchanged, at a 40.08% loss level, closing unchanged as it did, at KES1.54 trillion. 

Tuesday, May 23rd, 2023. 

All but one index remained on a downward slope. The price of a CBshare dropped by a further 0.45% to close at KES1,579.90 (or US$11.47, at a static forex rate of KES137.80 per US$). However, it maintained its third position in the ranking, as shown below: 

  

1. NASI (NSE All-Share Index): +0.24%

2. NSE 20 Index: -0.37%  

3. CBshare price (25 counters): -0.45%*

4. NSE 25 Index: -0.78%.

Unashig's market capitalization fell by 0.45% as well, to close at KES5,464,245.00 (or US$39,653.45 at today's forex rate).  

On a YTD (Year-To-Date) basis, the price of a CBshare weakened to -16.71%. Unashig's market capitalization closed at -14.84%. Market capitalization at the Nairobi Securities Exchange, as a whole, improved a little to close at -22.22%, YTD.     

Looking farther back to end-of-year 2021, Unashig's market capitalization recorded a 27.30% loss. In comparison, today's market capitalization at the NSE as a whole eased some, to -40.08%, closing as it did at KES1.54 trillion. 

Monday, May 22nd, 2023.

Monday closed with all four indices on a downward slope. The price of a CBshare  dropped by 0.97% to close at KES1,587.07 (or US$11.52, at a forex rate of KES137.80 per US$). 

Here's how the indices ranked:  

1. NSE 20 Index: -0.43%  

2. NASI (NSE All-Share Index): -0.78%

3. CBshare price (25 counters): -0.97%* 

4. NSE 25 Index: -1.16%.

Unashig's market capitalization fell by 0.97%, to close at KES5,489,053.50 (or US$39,833.48 at today's forex rate).  

On a YTD (Year-To-Date) basis, the price of a CBshare weakened by 16.33%. Unashig's market capitalization also weakened by 14.45%. Market capitalization at the Nairobi Securities Exchange, as a whole, also declined further to -22.73%, YTD.     

Looking farther back to end-of-year 2021, Unashig's market capitalization recorded a 26.97% loss. In comparison, today's market capitalization at the NSE as a whole weakened further, to -40.47%, closing at KES1.53 trillion. 

READ: Kenya's economic growth slowed to 4.8pc in 2022

READ: Bid to make Kenya regional healthcare hub gains pace

SHAREHOLDERS ARE REMINDED THAT While share trading is not Unashig's core business, it is an important aspect of an enterprise such as ours. Unashig is a limited liability company registered under Kenya's Companies Act. It is wholly owned by its registered shareholders, currently numbering 249. Investing the amounts generated through the periodic sale of issued CBshares in dividend/income-generating ventures is a prudent and indeed surer way of growing the company. Surer, certainly, than spending it on routine office activities. The average number of CBshares held per shareholder remains very low, however. This is not conducive to rapid capital/asset growth, or the generation of substantial and distributable dividend income. For over 12 months, the value of our CBshare has proven that Unashig's investment decisions continue to be competitive with, and quite frequently superior to, those pegged on the trajectory of any, or often all, of the three active NSE indices. 

READ: The Core Business of Unashig Kenya PLC. 

FOR SUMMARIES FOR EARLIER DATES, PLEASE READ: " UNASHIG's Share Price and....Capitalization, May 15th to May 19th 2023" 

BOOK LINK: Rock of the Boat    

NOTE: 1) Buy and Read the eBook Edition of Rock of the Boat Using a Free Kindle eBook App: Tap or Click on This Link To Download the Free eBook App  

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