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Ekeza savings and credit Sacco
Rank: New-farer Joined: 6/27/2016 Posts: 11 Location: Nairobi
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I recently opened an account with Ekeza Sacco with the aim of them financing a property purchase come development project, my concerns are how stable are they and what happens if they go under and the have already financed the project but am yet to complete the installments.
Where can one get the real financial health of the sacco?
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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smartbull wrote: I recently opened an account with Ekeza Sacco with the aim of them financing a property purchase come development project, my concerns are how stable are they and what happens if they go under and the have already financed the project but am yet to complete the installments.
Where can one get the real financial health of the sacco? Why did you put money first ...then now start researching on their financial health?Putting the cart before the horse... possunt quia posse videntur
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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smartbull wrote: I recently opened an account with Ekeza Sacco with the aim of them financing a property purchase come development project, my concerns are how stable are they and what happens if they go under and the have already financed the project but am yet to complete the installments.
Where can one get the real financial health of the sacco? Stima Sacco is fundamentally strong! John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Somebody told me it will go under but I never bothered to find out more Coz I'm not invested. Due diligence is best done before not after investment but better late than never.Ask around and see what you'll find.
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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Do they have a website? Try find their latest financial results.Check their balance sheet carefully. Towards the goal of financial freedom
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Rank: New-farer Joined: 6/27/2016 Posts: 11 Location: Nairobi
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That's the thing the do not have a website making it hard to get their financials, I did the registration and decided to get more info about the company before putting in more money to purchase the property I had in mind.
Am shopping around for the best way to finance a property purchase in the range of 2.5M some area around Kamakis.
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Rank: New-farer Joined: 11/23/2011 Posts: 15
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Dont get into analysis paralysis, as time doesnt wait for a King. Its good sometimes to take a risk and ponyoka with what is available. I have acquired titled properties with Urithi and Ekeza and can vouch on their going concern. As you look at their stability, vouch also on your stability to withstand shocks Sophisticated investors ignore the noise and concentrate on the intrinsic value of an asset
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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smartbull wrote: That's the thing the do not have a website making it hard to get their financials, I did the registration and decided to get more info about the company before putting in more money to purchase the property I had in mind.
Am shopping around for the best way to finance a property purchase in the range of 2.5M some area around Kamakis.
Safaricom sacco possunt quia posse videntur
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Rank: Member Joined: 2/4/2016 Posts: 175 Location: Global
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kenyariri wrote:Dont get into analysis paralysis, as time doesnt wait for a King. Its good sometimes to take a risk and ponyoka with what is available. I have acquired titled properties with Urithi and Ekeza and can vouch on their going concern. As you look at their stability, vouch also on your stability to withstand shocks Confirm if Ekeza is an off shoot from Urithi through one of the office bearers.If so I will tell watu to do your due diligence till you are fully satisfied.
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Rank: Member Joined: 8/16/2012 Posts: 660
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Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru
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Ethiteri wrote:kenyariri wrote:Dont get into analysis paralysis, as time doesnt wait for a King. Its good sometimes to take a risk and ponyoka with what is available. I have acquired titled properties with Urithi and Ekeza and can vouch on their going concern. As you look at their stability, vouch also on your stability to withstand shocks Confirm if Ekeza is an off shoot from Urithi through one of the office bearers.If so I will tell watu to do your due diligence till you are fully satisfied. Is there a connection between Urithi and Ekeza??? Coz someone just approached me to form a group of 6 to join Urithi... And I am givint it a wide berth... For investors as a whole, returns decrease as motion increases ~ WB
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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winmak wrote:Ethiteri wrote:kenyariri wrote:Dont get into analysis paralysis, as time doesnt wait for a King. Its good sometimes to take a risk and ponyoka with what is available. I have acquired titled properties with Urithi and Ekeza and can vouch on their going concern. As you look at their stability, vouch also on your stability to withstand shocks Confirm if Ekeza is an off shoot from Urithi through one of the office bearers.If so I will tell watu to do your due diligence till you are fully satisfied. Is there a connection between Urithi and Ekeza??? Coz someone just approached me to form a group of 6 to join Urithi... And I am givint it a wide berth... Look for a thread titled "Urithi Sacco". @bigchick has a wealth of knowledge on these saccos. From her postings on the other thread, Gakuyo was a founder of Urithi but he quit over what they termed internal wrangles. But there was a screaming red flag. Apparently the BOD/BOM of Urithi are the same guys who ran Deci, Clip and the like. Please note am quoting @bigchick verbatim here. She had also noted a phenomenal transformation in the lifestyles of the founders. From probox to V8 in a year.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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winmak wrote:Ethiteri wrote:kenyariri wrote:Dont get into analysis paralysis, as time doesnt wait for a King. Its good sometimes to take a risk and ponyoka with what is available. I have acquired titled properties with Urithi and Ekeza and can vouch on their going concern. As you look at their stability, vouch also on your stability to withstand shocks Confirm if Ekeza is an off shoot from Urithi through one of the office bearers.If so I will tell watu to do your due diligence till you are fully satisfied. Is there a connection between Urithi and Ekeza??? Coz someone just approached me to form a group of 6 to join Urithi... And I am givint it a wide berth... Keyser Soze was a director of Urithi before replicating the ideas and forming his own entity. Pesa Nane plans to be shilingi when he grows up.
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Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru
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FRM2011 wrote:winmak wrote:Ethiteri wrote:kenyariri wrote:Dont get into analysis paralysis, as time doesnt wait for a King. Its good sometimes to take a risk and ponyoka with what is available. I have acquired titled properties with Urithi and Ekeza and can vouch on their going concern. As you look at their stability, vouch also on your stability to withstand shocks Confirm if Ekeza is an off shoot from Urithi through one of the office bearers.If so I will tell watu to do your due diligence till you are fully satisfied. Is there a connection between Urithi and Ekeza??? Coz someone just approached me to form a group of 6 to join Urithi... And I am givint it a wide berth... Look for a thread titled "Urithi Sacco". @bigchick has a wealth of knowledge on these saccos. From her postings on the other thread, Gakuyo was a founder of Urithi but he quit over what they termed internal wrangles. But there was a screaming red flag. Apparently the BOD/BOM of Urithi are the same guys who ran Deci, Clip and the like. Please note am quoting @bigchick verbatim here. She had also noted a phenomenal transformation in the lifestyles of the founders. From probox to V8 in a year. Thanks a lot For investors as a whole, returns decrease as motion increases ~ WB
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Rank: Elder Joined: 8/4/2008 Posts: 2,849 Location: Rupi
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whiteowl wrote:Somebody told me it will go under but I never bothered to find out more Coz I'm not invested. Due diligence is best done before not after investment but better late than never.Ask around and see what you'll find. I hope that many paid attention to this Lord, thank you!
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Rank: Member Joined: 7/7/2009 Posts: 41
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Euge wrote:whiteowl wrote:Somebody told me it will go under but I never bothered to find out more Coz I'm not invested. Due diligence is best done before not after investment but better late than never.Ask around and see what you'll find. I hope that many paid attention to this Ekeza sacco shutdownHappiness is not the absence of problems, It's the ability to deal with them
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Rank: Veteran Joined: 5/5/2011 Posts: 1,059
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Wah 3 Billion at stake, what does the law say about a case like this? I see some people on Fb praying it goes down so that they don't pay loans while some crying of millions saved over the years in hope of getting huge loans later on, a black cloud has been hanging above this sacco lets wait and see. To Each His Own
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Rank: Member Joined: 11/7/2017 Posts: 186 Location: Nairobi
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Juojo wrote:Euge wrote:whiteowl wrote:Somebody told me it will go under but I never bothered to find out more Coz I'm not invested. Due diligence is best done before not after investment but better late than never.Ask around and see what you'll find. I hope that many paid attention to this Ekeza sacco shutdown So prophetic...
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Rank: Member Joined: 9/2/2010 Posts: 845
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the SACCO regulator SASRA includes some basic financials of all deposit taking SACCOs in Kenya in their annual industry report. it's basically assets and deposits but i'd think they can share more detailed financials if you ask them. All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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There's a very nice program called American Greed by CNBC episodes are on YouTube. The station that will copy that program and Kenyanize it will have done mkenya a very big favour. This is a classic ponzi scheme. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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