What are your experiences??

My own experience the Worst Sacco when it comes to Land Acquisition is the Land Acquisition Arm of Mhasiibu Sacco-

My experience with them is as follows;

There were four different land parcels that were being sold at different times; namely
1. Runda
2. Ruiru I
3. Ruiru II
4. Juja

The handling of the above four parcels by Mhasibu can only be described in one word 'Pathetic'

The reasons are as follows;

1. Four years down the line no tittles.( A few tittles though were processed for some very few plots that were allocated to the officials in one of the land parcels)

2. The purchase price of the land parcels was inclusive of the tittle processing fees as is the norm with SACCOs. The members of Ruiru II were requested to cough additional cash for title processing. To me this borders on dishonesty on the part of the Sacco's Land Acquisition Arm.

3. Land Parcel of Ruiru I was resurveyed again without the knowledge of the original land purchasers- Meaning that the individual parcel sizes may have been interfered with.

4. Juja the story goes that they purchased a land but the land had serious issues (My take is that they never did due dilligence on the land transaction hence they had to purchase another land to issue to members. In Law this would amount to a counter offer and would vitiate the 'original contract' between the members and the land acquisition arm of the SACCO.

5. There are unconfirmed allegations that there are Board room wrangles between the Board Members of M Sacco, and M Housing which has stalled the progress of the above projects.


Questions:
1.Are there regulations that govern the operations of the investment arms of the SACCO?
2. What legal options are available to members?

Thanks for sharing as i have been blaming myself for not taking up some of their plots

Did those who bought in Runda, Ruiru, Nyeri get titles eventually? i hope so

my friend had his money refunded i think for Runda after some funny dealings where i think some people were conned once prices went through the roof

How did it go in Kabarak? i missed Kabarak by a whisker but to me the plots at a price of 320k for a quarter just next to Kabarak university and 15 kms from Nakuru town centre seemed very very good

I was once is a housing sacco where one official ran away with a loot. Lucky thing is that I hadn't contributed much, and book-wise my contributions were intact.

Fast forward to the present, Safcom's SIC just let go a few officials last year. Titles are yet to be processed. Here there could be findeo and ndlama in the waiting

could be something beyond their control.read rot at the land monistry.as we talk the monister is undersiege for scandals
.