Sale of plot

Sale of plot at Isinya-Pipeline road for Ksh. 800,000/-. Interested buyers to contact the seller (Ernest) on 0716-653182

Notice of 50th AGM

TO: ALL BALOZI SACCO MEMBERS
 
NOTICE OF THE 50TH ANNUAL GENERAL MEETING
 
Notice is hereby given that the 50th Annual General Meeting (AGM) of Balozi SACCO Limited shall be held VIRTUALLY on Friday, 16th February 2024 at 1.00pm to conduct the following business:
1. Consider and confirm the minutes of the 49th AGM held on 10th February 2023.
2. Receive and discuss the chairman’s report and the Supervisory Committee’s report for the year ended 31st December 2023.
3. Consider and adopt audited financial statements for the year ended 31st December 2023 and determine disposal of surplus thereof.
4. Consider and approve:
           a. Supplementary budget estimates for the year 2024.
            b. Budget estimates for the year 2025.
5. Determine the SACCO's maximum borrowing power.
6. Appoint auditors for the year 2024.
7. Elect the Board of Directors and Supervisory Committee members retiring on rotational basis.
8. Discuss any other business (A.O.B) for which due notice had been received in accordance with the by-laws. Please note that this must be by written notice to reach the chair, Board of Directors by 12th February 2024 at This email address is being protected from spambots. You need JavaScript enabled to view it.
9. Pass resolutions for the year 2024.
 
You are all welcome.
 
John Gichuru
Honorary Secretary
31st January 2024
                      
 

Plough Back of Dividend/Interest For Year 2023

TO: ALL BALOZI SACCO MEMBERS
DATE: 16TH JANUARY 2024
SUBJECT: PLOUGH BACK OF DIVIDEND/INTEREST


Greetings and Happy New Year!

The Board of Directors of the SACCO is happy to inform you that the Annual General Meeting (AGM) for the SACCO is coming up soon. We therefore request members willing to plough back (re-invest)
part/whole of their dividend/interest for the year 2023 to advise the office. Kindly indicate the percentage or the amount you intend to be ploughed back to your savings or to pay off your loan.
The re-invested amount qualifies for loan consideration immediately while the amount directed towards loan reduces loan interest.

The SACCO appeals to members who might have changed/not provided their bank details for receiving dividend/interest to furnish the office with their new bank details (Account name,
bank name, account number and branch). Kindly ignore this in case your accounts details have not changed.

NOTE: The SACCO shall only make the above payment after recovering all the payment arrears in deposits, benevolent, share capital and loans.
The instructions to reach the office through This email address is being protected from spambots. You need JavaScript enabled to view it. by the close of business of Friday 26th January 2024.

Yours Faithfully,

 

Jorim Oyago
Chief Executive Officer

End Year Break 2023

TO: - ALL BALOZI SACCO MEMBERS
DATE: - DECEMBER 18, 2023
SUBJECT: - END YEAR BREAK
 
We wish to inform you that we shall close our offices for Christmas holidays on Friday December 22, 2023 at 5.00pm and remain closed upto January 1, 2024. 
 
During this break, members with issues of accessing M-cash may contact the Sacco during the working hours (8.00am-5.00pm) for assistance through mobile number 0795074692.
 
The Sacco will resume its operation on Tuesday, 2nd January 2024 at 8.00 a.m.
 
The Board of Directors and the staff of the SACCO sincerely thank you for your continued support and wish you a Merry Christmas and a prosperous new year 2024.
 
Thank you.
  
Jorim Oyago
Chief Executive Officer
 

Consideration of Rental Income for Servicing Loans

TO: ALL BALOZI SACCO MEMBERS
DATE: 14TH NOVEMBER 2023
SUBJECT: CONSIDERATION OF RENTAL INCOME FOR SERVICING LOANS
 
The SACCO is pleased to inform you that you can now use your rental income to access SACCO loans subject to terms and conditions.  
 
Terms and conditions for using rental income for servicing loans.
• The member must prove the existence of the building by providing either title deed, lease agreement, allotment letter or share certificate.
• The member must provide a utility bill (electricity bill or water bill) for the rental house which must be in their name.
• The loan must be secured/guaranteed by guarantors or title deed.
• The member must provide a bank statement for the last six months showing receipt of the rent.
• The member must provide a tenancy agreement.
 
Note: The SACCO will consider 70% of the monthly rental income while computing the eligibility for the loans.
 
This new provision takes effect immediately.
 
Yours Faithfully,
 
 
 
Jorim Oyago
Chief Executive Officer

 

Advanced Dividend Application on USSD and X-mobi App

TO: BALOZI SACCO MEMBERS 
DATE: 26TH SEPTEMBER 2023
SUBJECT: ADVANCE DIVIDEND APPLICATION ON USSD AND X-MOBI APP
The SACCO is pleased to inform members that they can access part of their Interest & Dividends for the year 2023 via our mobile platforms - USSD *882# and Xmobi Customer app. Kindly follow the steps below to access the funds:
         
USSD: 
1. Dial *882# on your Safaricom line (This line must be registered for M-pesa and in your Balozi account)
2. Select option 4 (Mobile loan)
3. Select option 1 (Advance Dividend)
4. Enter your preferred amount
5. Enter your pin and select Ok/Send.
6. Funds will be disbursed to your M-pesa account.
         
X-Mobi Customer app:
1. Select Request Loan option
2. Enter your password and select login
3. Under Loan Type to Request, select Advance Dividend
4. Enter your preferred amount 
5. Enter your password and select request loan.
6. Funds will be disbursed to your M-pesa account.
Note:
a. The maximum amount available is 30% of your previous year (2022) interest/dividend. This amount will be displayed in step 3 above.
b. Maximum amount payable via M-Pesa per day is Ksh. 150,000. 
Note: The effective date is 2nd October 2023 while the closing date is 31st December 2023.
Thank you
 
Jorim Oyago
Chief Executive Officer

Junior Savings Product

TO:- ALL BALOZI SACCO MEMBERS
SUBJECT:-  SAVINGS PRODUCT
DATE:- AUGUST 10, 2023

The Sacco is pleased to introduce a new savings product called Junior Savings with the following features:

  • The minimum saving that will earn interest is Ksh. 5,000
  • The savings to earn interest at 5% per annum
  • Maximum allowable withdrawal from the saving is once in 12 months
  • The minimum monthly contribution at any given time is Ksh. 200
  • No interest earned if withdrawal is done before twelve months
  • The amount for opening the account is Ksh, 1,000 non refundable

Thank you,

Jorim Oyago
CHIEF EXECUTIVE OFFICER.

Closure of Office

TO:-ALL BALOZI SACCO MEMBERS

DATE:- JUNE 27, 2023

SUBJECT:- CLOSURE OF OFFICE

We wish to inform you that we will be closing our offices on June 28,2023 and we shall resume our operations on June 29,2023 at 8.00 A.M.

We wish you a happy Eid-Ul-Adha.

Thank you for your continuous support.

Yours faithfully,

Jorim Oyago.

Chief Executive Officer.

Idemnity Form

TO: BALOZI SACCO MEMBERS

We wish to inform you that due to the implementation of Data Protection Act of 2019, it is now a requirement that no disclosure of any information relating to clients should be done without their consent. The Sacco must comply with the provision of the Act and has therefore made several changes in the terms and conditions for its operations. Some of the changes include:

1. Introduction of indemnity form: The purpose of this form is to get consent from members to allow the Sacco to receive, process and keep their data for future referencing. Members are therefore required to fill, sign and submit the form by 3rd April 2023. Members who will not have submitted the form by the above deadline will be denied services until they do so.

2. Membership, loans and ekeza fund application forms: The Sacco has revised these forms to comply with the provisions of the Act. The revised forms are on the Sacco’s website. The Sacco shall discontinue the use of the old applications forms after 3rd April 2023.

The duly completed indemnity forms can be submitted to the Sacco via email address This email address is being protected from spambots. You need JavaScript enabled to view it. or dropped at the Sacco reception desk during the working hours.

Yours Faithfully,

Jorim Oyago
Chief Executive Officer

Click here to download the form: Indemnity Form

 

 

Closure of Office

TO: ALL BALOZI SACCO MEMBERS

DATE: FEBRUARY 28th 2023

We wish to inform you that we will be closing our offices on Friday 3rd March 2023 at 12.00 noon, and we shall resume our operations on 6th March 2023 at 8.00 A.M.
We sincerely apologize for any inconvenience caused.
Thank you for continuous support.

Yours faithfully,

Jorim Oyago,
Chief Executive Officer.

49TH AGM Resolutions

TO: BALOZI SACCO MEMBERS

Further to the 49th AGM held on Friday 10th February 2023, kindly take note of the following resolutions that were passed by members:
1. Members approved an increment of share capital by Ksh. 15,000 per member within the next 3 years (Ksh. 5,000/- per year from 2023 to 2025). Members are encouraged to save more than the minimum amount approved by the AGM towards their share capital in order to enjoy high returns.
2. Members approved distribution of surplus as presented in the financial statements (10.1% interest on deposits and 20% dividend on share capital)
3. Members approved supplementary budget for year 2023 and budget for 2024
4. Members re-appointed Nelson and Francis LLP as statutory auditors for the year 2023
5. Members approved borrowing power to remain at Ksh. 1.5B and authorized the board to charge the Sacco’s asset where applicable.
6. Members approved dissolution of Balozi Investment Company and formation of a new Investment Company.
Note:
1. Net dividends / Interest for the year 2022 has been disbursed to members via their respective bank accounts maintained by the SACCO. Please let us know via email (This email address is being protected from spambots. You need JavaScript enabled to view it.) if you have not received the dividends and interest on deposits.
2. Plough backs (withheld interest/dividends) have been posted in the members’ personal accounts (MPA) with the Sacco. We encourage members to login to their Balozi member accounts to confirm the status.
3. Dividend/interest statements are available and can be accessed via X-mobi Customer app and members portal through:https://portal.balozisacco.com/SaccoSystem/Login/member
For any queries, kindly contact us through telephone no. +254(020)2211600 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

Yours Faithfully,

Jorim Oyago
Chief Executive Officer

Notice of 49th AGM

TO: ALL BALOZI SACCO MEMBERS

NOTICE OF THE 49TH ANNUAL GENERAL MEETING(click link to view signed notice) 

Notice is hereby given that the Forty-Ninth Annual General Meeting (49th AGM) of Balozi SACCO Limited shall be held on Friday, 10th February 2023 at All Saints Cathedral starting at 12.00 noon to conduct the following business:
1. Consider and confirm the minutes of the 48th AGM held on 11th February 2022.
2. Receive and discuss the chairman's report and the Supervisory Committee's report for the year ended 31st December 2022.
3. Consider and adopt audited financial statements for the year ended 31st December 2022 and determine disposal of surplus thereof.
4. Consider and approve:
a. Supplementary budget estimates for the year 2023.
b. Budget estimates for the year 2024.
5. Determine the SACCO's maximum borrowing power.
6. Appoint auditors for the year 2023.
7. Elect the Board of Directors and Supervisory Committee members retiring on rotational basis.
8. Discuss any other business (A.O.B) for which due notice had been received in accordance with the by-laws. Please note that this must be by written notice to reach the chair, Board of Directors by 6th February 2023.
9. Pass resolutions for the year 2023.

You are all welcome.

Vincent Kisanya
Honorary Secretary
26th January 2023

Plough Back of Dividend/Interest For Year 2022

TO: ALL BALOZI SACCO MEMBERS

DATE: 10th January 2023

SUBJECT: PLOUGH BACK OF DIVIDEND/INTEREST FOR YEAR 2022

End Year Break 2022

TO: ALL BALOZI SACCO MEMBERS

DATE: 19th December, 2022

SUBJECT: END YEAR BREAK

We wish to inform you that our offices will remain closed from December 27th 2022, and   re-open on Tuesday, 3rd January 2023 at 8.00 a.m.

In case of any assistance on our USSD or X- Mobi services during this break, kindly call mobile number 254 729 224 511 within the working hours.

The Board of Directors and staff of the SACCO sincerely thank you for your continued support and wish you a Merry Christmas and a prosperous new year 2023.

 Thank you.

 CEO Signature

Jorim Oyago

Chief Executive Officer

Vacancies in The Board of Directors and Supervisory Committee

The Nomination and Vetting Committee of Balozi SACCO Ltd wishes to inform you of the following vacancies: 

For more details, click on the links below: 

1.USAID

2.KENYA KAZI SECURITY

3.BBC, DIASPORA, CANADIAN HIGH COMMISSSION,ISRAELI EMBASSY

4.SUPERVISORY

The purpose of this notice is to invite interested candidates for these positions to submit their applications. Interested candidates are required to complete the nomination questionnaire form (sent to members via e-mail) and submit it together with the specified requirements on or before 31st December 2022. Your application should be sent to This email address is being protected from spambots. You need JavaScript enabled to view it. or dropped at the SACCO office within working hours. All the applications will be acknowledged.

The nomination and vetting committee will vet all the applications from 06th to 07th January 2023 and communicate the result to the candidates. 

The nomination and vetting committee wishes you success.

 

For and on behalf of

Balozi Sacco Nomination/Vetting Committee

Francis Njau

Chairman

                           

Advance Dividends on USSD 5th October 2022

TO: BALOZI SACCO MEMBERS

DATE: 5TH OCTOBER 2022

SUBJECT: ADVANCE DIVIDEND APPLICATION ON USSD

We wish to inform you that advance interest and dividends can be accessed through our USSD mobile platform *882#. Kindly follow the steps below to access the fund:

  1. Dial *882# on your Safaricom line (This line must be registered for M-pesa and in your Balozi account).
  2. Select option 4(Mobile loan)
  3. Select option 1(Advance Dividend)
  4. Enter your preferred amount

   Note:

  1. Maximum amount available is 30% of your previous year (2021) Interest/dividend – this amount will be displayed in step 3 above.
  2. Maximum amount payable via M- pesa is Ksh. 150,000. Members requesting for amounts more than Ksh. 150,000 should request in batches.
  3. Enter your pin and select Ok/Send.
  4. Funds will be disbursed to your M-pesa

     Yours Faithfully,

        CEO Signature

     Jorim Oyago

    Chief Executive Officer

Ploughback of Interest/dividends 1st October 2022

Dear Member,

The SACCO is pleased to inform members that they  can access part of their  Interest & Dividends for the year 2022 under the following terms and conditions:

Maximum amount: 30% of the net amount for the preceding year 2021.

Interest rate: 10% upfront interest on the amount being granted.

Repayment:The amount will be deducted from the final interest and dividend for the year 2022.

Security for advance: Interest/dividend earned in the year 2022

Effective date: 1st October to 31st December 2022.

NOTE: Kindly specify the percentage you are applying for and must not exceed 30% of your net interest and dividend for the year 2021. Other terms and conditions for loan will apply.  

Forms are accessible from Balozi Sacco website (www.balozisacco.com) under Sacco Application Forms.

Thank you for your continuous support.

Jorim Oyago

CHIEF EXECUTIVE OFFICER.

Product Reforms

Following members’ suggestions given through members’ surveys, social media, emails, education forums and conversations, the Board of Directors of the SACCO is pleased to announce the following product reforms. Signed notice

1. Loan multiplier
Increase the loan eligibility to four times the members’ deposits, up from the current three times.

2. Guarantorship multiplier
To give more room to members to guarantee each other, the eligibility of guarantorship has been increased from three times to four times members’ deposits for all loan products.

3. Changes in the maximum loan limits

Loan type

Current Limit (Ksh.)           

New limit (Ksh.)       

Insta

1,000,000

No limit

Insta Plus

1,500,000

No limit

Quick Pesa

300,000

500,000

Car

2,000,000

3,000,000

Mcash

100,000

150,000

Okoa Advance       

250,000

350,000

Note: Repayment period for Okoa Advance loan has been extended from 10 months to 12 months at a flat interest rate of 1% per month.

4. Special loan
Some members are not able to access additional loans due to two thirds limitation. The Special loan has been reviewed to include the following features:
*It can be used for amalgamating part or all outstanding loans at no cost
*The repayment period is 10 years (120 months)
*Interest rate will be 1.29% per month on reducing balance.
The above reforms will result in reduction of member’s allotments after amalgamating the existing loans.

Note: Members will not take home any cash on this product. The existing guarantors of the loan(s) being amalgamated will still be eligible to guarantee this product

5. Deposit banding
The banding has been expanded with an aim of releasing more funds to the members to enable them apply for more loans. The new banding is as follows:

Minimum loan   
limit

Maximum loan    
limit  

Minimum contribution   
per pay period

Minimum contribution   
per month

0

2,000,000.00

2,000

4,000

2,000,001.00

3,000,000.00

3,500

7,000

3,000,001.00

4,000,000.00

5,000

10,000

4,000,001.00

5,000,000.00

6,500

13,000

5,000,001.00

6,000,000.00

8,000

16,000

6,000,001.00

7,000,000.00

9,500

19,000

7,000,001.00

8,000,000.00

11,000

22,000

8,000,001.00

10,000,000.00

12,500

25,000

           Above 10,000,001.00  

14,000

28,000

 

6. Loans insurance premium
In accordance with the Sacco industry practice, members will now insure their loans at an interest rate of 1% of the loan approved. The insurance cost will be added on the loan approved thus member still taking home the total amount approved.

NOTE: All other terms and conditions for loan applications apply.

Effective date: 1st May 2022 

Disbursement of loans via M-Pesa

The SACCO is pleased to introduce a new method (M-pesa) for disbursing funds including loans to members. Members will now have two options for receiving their funds from the SACCO, either via bank or M-pesa. Click here to view the notice

Conditions for payment via M-pesa
1. A member MUST choose the payment option in the loan application form (either bank or M-pesa)
2. Maximum amount for M-pesa will be Kes 150,000 (One Hundred and Fifty thousand shillings only)
3. The cellphone number that will receive the funds MUST be the one registered in the SACCO as the default/primary contact line. This should be the same number the SACCO has been using to send texts to the member
4. The cellphone number MUST be registered for M-pesa with Safaricom.
Members are encouraged to confirm their primary contact cellphone number via the portal and communicate any change to the SACCO through This email address is being protected from spambots. You need JavaScript enabled to view it..

Disclaimer
The SACCO shall not be liable for funds disbursed to a wrong cellphone number so long as the member had provided such contact as his/her SACCO primary contact.

Effective date for the use of M-pesa will be 1st April 2022.

48th AGM Resolutions

Dear member,

The following resolutions were passed during the 48th virtual AGM held on 11th February 2022:
1. The borrowing power remained at Ksh.1.5 billion and members authorized the Board to charge the asset when applicable.
2. Members approved distribution of surplus as stipulated in the accounts.
3. Members approved supplementary budget for year 2022 and the budget for year 2023.
4. Members appointed Nelson & Francis LLP as the SACCO auditor in the year 2022.

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Contact Us

Location: Golf View Suites, 3rd Floor, Muthaiga
along Wambui road, off Kiambu/Thika road
Postal address: P.O. Box 11539-00400, Nairobi.
Tel:  +254 (020) 2211600
Cell: +254 (0) 720 833326 / 733 967707
Email: info@balozisacco.com

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