The Safaricom Investment Co-operative has rebranded to SIC Investment Co-operative, a move aimed at positioning the organization for future growth and diversification.
The rebranding was unveiled at a ceremony graced by key government officials, including Cabinet Secretary for Co-operatives and Micro, Small & Medium Enterprises (MSMEs) Development, Wycliffe Oparanya, alongside Principal Secretary Patrick Kilemi.
Also in attendance were SIC Investment Co-operative Board Chair Judy Runo, CEO Churchill Winstones, and Safaricom PLC Director of Brand and Marketing, Zizwe Vundla.
The rebranding is part of SIC’s 2023-2027 strategic plan, which aims to enhance financial growth, increase member mobilization, and streamline internal processes.
Speaking during the event, CEO Churchill Winstones noted the need for the organization to adapt to the evolving market trends, technological advancements, and global events that are shaping consumer behavior.
“We understand that client choices constantly keep changing and evolving, driven by shifts around the world, technological advancements, and global events leading to a change in consumer behavior,” Winstones stated.
Founded in 2009, SIC Investment Co-operative has over 5,000 members and has completed more than 150 land projects.
It operates in four main business areas: land, housing, business development, and value-added services. The cooperative focuses on real estate, securities, and private equity investments.
Cabinet Secretary Wycliffe Oparanya acknowledged the critical role the cooperative sector plays in Kenya’s socio-economic development.
He emphasized the government’s efforts to mobilize cooperative sector players and improve efficiency through harmonized legal and regulatory frameworks.
“The government is also harmonizing various legal and regulatory frameworks and realigning them to the current needs and realities as envisioned in BETA, ensuring a well-governed and sustainable cooperative society ecosystem that protects the interests of all the members,” Oparanya said.
SIC Investment Co-operative, which is regulated by the State Department of Cooperatives, will continue to build on its legacy as a leading investment entity in Kenya’s cooperative sector, aiming for sustainable growth and long-term value creation for its members.
