Harambee Sacco to sell prime property in turnaround plan

The sacco is eyeing to retire its multibillion loan from Cooperative Bank. FILE PHOTO | NMG

Troubled Harambee Sacco has started selling a huge chunk of its multi-billion shilling real estate property to boost its cash flow as it continues in its turnaround plan, newly appointed chief executive officer George Onchiri has said.

The country’s third largest sacco whose 76,000 strong membership is largely drawn from civil servants, including the police, the military, and provincial administration personnel has reinstated dividend payouts after bouncing back to profit position in 2018 following a loss the previous year.

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