Bamburi Wananchi Savings and Credit Co-operative Society Ltd was formed and registered on 24th April 1968 by few employees of Bamburi Portland Cement (now Bamburi Cement Limited). The SACCO was assigned a registration number CS/1770.
The society is being run by a team of nine Board members and three Supervisory Committee members, which provides the oversight function. There are two Sub-Committees i.e. Education and Credit whose membership is drawn from Board members. The Society currently has two employees.
The main objective of forming the society was to provide avenue for Savings and Credit for the members. Minimum savings per member is Kshs.6,000.00 for Bamburi Cement Ltd employees and Kshs. 3,500.00 for Lafarge Eco System , Bamburi Special Products employees.
MEMBERSHIP
Recruitment process for new members has been on and now the membership stands at 574. The SACCO draws its members from Bamburi Cement Limited, Lafarge Eco System and Bamburi Special Products.
SHARE CAPITAL
Membership commenced with a share capital of less than Kshs. 50,000.00 and has since then tremendously grown to Kshs. 8,671,964.00 and Members’ deposits stands at Kshs. 223,156,684.00 as at 31st December 2015.