Safepak Savings and Credit Co-Operative Society Limited

16/06/2020

VACANCY AVAILABLE
SACCO MANAGER
Safepak Sacco invites applications from dynamic, goal -oriented, high performers from qualified individuals to fill a position of a Sacco manager.
Reporting to the SACCO management board, the successful candidate will be responsible for the day to day running of the SACCO and its operations.

Job Description
• Responsible for the organisation’s investments and management of a balanced investment portfolio.
• Steer the SACCO towards achievement of all the necessary SASRA requirements for attainment of certification as a deposit taking SACCO.
• Responsible for the management, development and maintenance of a high performance team by providing good leadership and effective supervision and guidance of staff members.
• Be able to provide expertise in serving the SACCO as a Chief Executive Officer upon attainment of deposit taking SACCO status.
• Responsible for the organisation’s financial planning, forecasting and budgeting.
• Have the ability to re-engineer all the processes and systems of the SACCO to enhance performance.
• Responsible for the management of costs so as to achieve business growth.
• Guide the SACCO officials and its members in the development of all the necessary documentation including the strategic plan and other management policy and procedure manuals.
• Responsible for supporting decision making through preparation, analysis and presentation of comprehensive, timely, reliable and compliant financial reports.
• Provide guidance on the adoption and/or implementation of sound and up to date accounting systems.
• Management of the general and subsidiary ledgers in accordance with internationally accepted accounting and financial reporting standards and preparation of final accounts for audit
• Prepare and analyse on a regular basis, the SACCO’s business plan, and budgetary estimates then provide explanations on variances.
• Ensure compliance with statutory and regulatory requirements.

Job Specification
• University degree in Business Administration, Business Management, Commerce, Finance, Accounting or Economics.
• Be a registered certified public accountant CPA (K).
• Diploma in co-operative management, business management, microfinance, marketing, entrepreneurship or any other relevant field will be an added advantage.
• Have at least five years’ experience in a deposit taking SACCO with two of these being in a senior management position.
• Computer proficiency.
• Be above thirty (35) years of age.
• Possess excellent interpersonal and communication skills.
Online applications can be sent to [email protected]
Applications can also be hand delivered to our offices at ImaraDaimamaziwastage,cosmasNdetei Rd off Mombasa road. Please indicate current and expected remuneration.

All applications must be received by 22ND JUNE 2020.

Only shortlisted candidates will be contacted.

13/10/2018

Commercial banks and saccos can now blacklist guarantors with credit reference bureaus (CRBs) if principal borrowers default on loans, the High Court said.

05/08/2018

EDUCATION DAY SECOND TEAM

29/03/2018

I WOULD LIKE TO INFORM MEMBERS THAT THEY CAN NOW ACCESS OUR SACCO INFORMATIONS ON WWW.SAFEPAKSACCO.CO.KE. WE SHALL BE POSTING EDUCATION MATERIALS REPORTS AMONG OTHERS.

Emergency Loan žUp to a maximum 3 times of deposits, žRepayment period of maximum 12 months, žIn case of hospitalization,…

25/03/2018

AGM
DAY WELL DONE

22/03/2018

*RE-REMINDER*
YOU ARE MUCH WELCOME TO OUR 2017 AGM ON 25th-Mar.
remember👇👇👇👇👇👇👇👇

30/01/2018

No astute definition of ‘start-up’ exists. It is broadly categorized as a new business venture. It could be based at home, a street-side stall or have hip presence on Internet. In brief, all new businesses are start-ups. Everything from a new neighbourhood sandwich cart to glitzy high-tech software companies are start-ups. Businesses less than five years old get included in this definition too.

A WORD OF CAUTION
Setting up a start-up is easy. Finding funds is hard. Keeping the business afloat is harder. Findings by British commercial insurer RSA indicates, 50 percent of all start-ups in KENYA failed within the first five years. Insufficient government support, lack of bank loans, regulatory issues, intense competition and high operational costs are cited as reasons. Venture capital experts claim that about 90 percent of all start-ups fail . This scenario indubitably requires strong strategies for launching any start-up.

MONEY MATTERS
The trickiest part comes here. Funding start-ups is extremely complex and tiresome. Angel investors and venture capitalists are spoilt for choice. Bank loans for start-ups are almost non-existent. Financial institutions do not lend to companies that live in fertile minds and a few scraps of paper- they require proof. Thrift is key for start-ups. Launch the business with minimum budget, limiting operational expenses where possible. Common and not-so-common modes of staffing and operations combined help save costs while maximising profits during initial years. Successful start-up strategies do not include high costs.

FINDING MONEY
A great strategy for successful start-ups involves finding seed or initial capital. Knowing who can finance how much is key to successful funding. Start-up incubators and accelerators provide essential insights into the complex world of angel investments and venture capital.
Self finance: Investing your savings/ assets to seed a start-up.

Crowd funding: Collecting money from public for a start-up. These investors get stocks of your company, commensurate with amounts chipped in.

Bank/ Institutional credit: Money borrowed from banks/ financial institutions to fund start-ups. Most lenders are reluctant but with some collateral, you may get lucky to get bank loan.
Government funding:

Almost inexistent. Yet, some ministries do offer soft loans and credit for ventures they believe may help the society at large. These include start-ups concerned with environment protection, animal welfare, alleviation of poverty, child and mother care, facilities for persons with special needs, prevention of HIV/ AIDS and other sensitive, global concerns.

Social organizations: Start-ups with obvious benefits for the society attract attention of social welfare organizations. Some consider chipping in with seed investment.

Family holding: Hailed as best way to fund start-ups. Getting family members interested in your start-up by encouraging them to invest in exchange of stocks. Ensures your successful start-up remains within the family.

Venture capital: Those who got strategies and presentations right attract venture capital. Such funding is limited to seeding the business and initial years of operation.

Conglomerate funding: Business conglomerates look for start-ups that can assist their trade. A good presentation to those in your field can help generate much needed funds.

21/01/2018

13 Money Mistakes People Make That Make Them Poor

SAFEPAK SACCO MEMBERS
LET'S AVOID THIS MISTAKES
FOR OUR BETTER FUTURE

MAKE SURE YOU HAVE SHARED WITH AT LEAST 3 FRIENDS or share link below
👇👇👇👇👇👇👇👇👇👇👇👇👇👇
https://m.facebook.com/story.php?story_fbid=954356441384299&id=305038232982793

At one point you will make mistakes particularly if you are handling big money for the first time. But there are obvious money mistakes we make that end up making us poor.

Money Mistake 1
Never borrow money that accrues interest to start a business . That is to say, never borrow money to start a business expecting that the business will generate income to pay back the borrowed money plus the interest.

Money Mistake 2
Never spend money you haven’t received. Don’t even promise someone money based on a promise you have from someone else. If someone tells you: “Gasper come to my office tomorrow at 9am and pick ”don’t go out to buy items on credit based on this promise, with the hope that you will pay off your creditor when the promised money comes; it may not come as promised and this will leave you in problems with your creditors.

Money Mistakes 3
If you want to save, whenever you receive money, don’t start spending hoping that you’ll save what remains. Normally what remains is zero because as long as money to spend is available, the numerous things you can spend it on are also available. And things to spend on even incite their ‘relatives’ so that you spend even more than you had planned. When money to spend is not available, we naturally find a way of doing without it. That’s why I’ve learnt to save with an INVESTMENT CLUB. Once I send money there I assume I no longer have it. Before you spend any money, put your savings aside then spend what is left after saving.

Money Mistake 4
When you get an opportunity to meet a very wealthy person, never ask for money. Ask for ideas on how to make money. They may even choose to give you money on their own after seeing that your ideas are great, but let getting money from them never be your objective.

Money Mistake 5
Keeping your seed instead of planting it. Many people stop at saving. It’s very, very difficult to save and have all you need to maintain your lifestyle especially after retirement. When you save, your savings are seed; plant it. When you just keep the seed (saving money) some seeds begin to die (eaten by inflation and the like). That’s why I recommend that you read about the different types of investment vehicles you can use to grow your savings. I am not necessarily talking about putting the money in a business, because you can easily lose money in business. I am talking about putting it in an investment.

Money Mistake 6
Never lend someone money you are not willing to lose. By the time you lend someone money, be contented in your heart that should the person fail to pay, you will not die. You should not even lose that person’s friendship if they fail to repay the money you lent them. If you feel the person might fail to pay you and this will not affect your relationship with them, then lend them money. If their failure to pay would make you hate this person’s entire clan, please advise the person to go to the bank.

Money Mistake 7
Never append your signature to guarantee someone on a financial matter if you are not willing or able to pay the money on their behalf. Do I have to explain that one? No, it’s self-explanatory.

Money Mistake 8
Avoid keeping money you don’t intend to use in the short-term within easy reach. For instance, don’t walk with in your pocket when all you plan to do in a day costs . Like I mentioned in Money Mistake 3, there are always expenses available to gobble any money that is within reach, so if you don’t want to lose it, put it away in a safe place.

Money Mistake 9
Avoid keeping money in inappropriate places e.g. in socks, under the pillow, in a pit, in the sitting room, in the bra, in a travel bag that you will place somewhere in a bus … impulse buying is a devil that will keep you busy!

Money Mistake 10
Spending money on an item that you can do without (at least for the time being). These days when I pick money from my pocket or wallet, before paying for something I ask myself: What would happen if I didn’t buy this? If I find I can live with the consequences of not having that thing, I smile and walk away.

Money Mistake 11
Paying an amount for something that’s not the minimum you can get that same value for. In other words, if you are along east Legon road and you pay for a shoe that you can get at at Makola market, that’s a money mistake except for those who have achieved financial freedom.

Money Mistake 12:
Consistently spending all you earn or more than you earn. It’s like having a drum where you have an inlet that’s smaller than the outlet. It will never get full. And should the inlet ever reduce significantly the drum will run dry. If you do it the other way round and the inlet is bigger, it will get full and even overflow. Hence, we have to always ensure we are widening the inlet while narrowing the outlet – all the time. Your side hustle comes in handy!

Money Mistake 13:
Thinking about short-term only and forgetting about long-term or thinking about the long-term and forgetting about the short-term. For instance, Lydia was told that there’s money in land. She saved money over a long period of time and bought 30 acres of land