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Ekeza savings and credit Sacco
smartbull
#1 Posted : Monday, June 27, 2016 6:20:37 PM
Rank: New-farer


Joined: 6/27/2016
Posts: 11
Location: Nairobi
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?
maka
#2 Posted : Monday, June 27, 2016 6:24:15 PM
Rank: Elder


Joined: 4/22/2010
Posts: 10,998
Location: Nairobi
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
Spikes
#3 Posted : Monday, June 27, 2016 6:24:43 PM
Rank: Elder


Joined: 9/20/2015
Posts: 2,536
Location: Mombasa
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!
Just like energy that mines it, Bitcoin is never created nor destroyed. ...cryptography 101
whiteowl
#4 Posted : Monday, June 27, 2016 9:58:00 PM
Rank: Veteran


Joined: 4/16/2014
Posts: 1,305
Location: Bohemian Grove
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.
Ebenyo
#5 Posted : Monday, June 27, 2016 10:35:21 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,593
Location: Kitale
Do they have a website? Try find their latest financial results.Check their balance sheet carefully.
Towards the goal of financial freedom
smartbull
#6 Posted : Tuesday, June 28, 2016 10:39:30 AM
Rank: New-farer


Joined: 6/27/2016
Posts: 11
Location: Nairobi
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.

kenyariri
#7 Posted : Tuesday, June 28, 2016 11:47:25 AM
Rank: New-farer


Joined: 11/23/2011
Posts: 15
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
maka
#8 Posted : Tuesday, June 28, 2016 11:48:42 AM
Rank: Elder


Joined: 4/22/2010
Posts: 10,998
Location: Nairobi
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
Ethiteri
#9 Posted : Thursday, June 30, 2016 6:08:50 PM
Rank: Member


Joined: 2/4/2016
Posts: 175
Location: Global
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.
Museveni
#10 Posted : Tuesday, April 04, 2017 3:36:36 PM
Rank: Member


Joined: 8/16/2012
Posts: 657
Live and learn; and don’t forget, nothing ventured, nothing gained.
winmak
#11 Posted : Tuesday, April 04, 2017 4:33:23 PM
Rank: Member


Joined: 12/1/2007
Posts: 408
Location: Nakuru
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
FRM2011
#12 Posted : Tuesday, April 04, 2017 5:17:44 PM
Rank: Elder


Joined: 11/5/2010
Posts: 2,273
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.

Pesa Nane
#13 Posted : Tuesday, April 04, 2017 6:17:48 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,058
Location: 08c
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.
winmak
#14 Posted : Tuesday, April 04, 2017 6:29:32 PM
Rank: Member


Joined: 12/1/2007
Posts: 408
Location: Nakuru
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
Euge
#15 Posted : Wednesday, April 12, 2017 2:16:31 PM
Rank: Elder


Joined: 8/4/2008
Posts: 2,834
Location: Rupi
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!
Juojo
#16 Posted : Monday, March 26, 2018 10:00:26 AM
Rank: Member


Joined: 7/7/2009
Posts: 41
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
Happiness is not the absence of problems, It's the ability to deal with them
kayhara
#17 Posted : Monday, March 26, 2018 10:55:08 AM
Rank: Veteran


Joined: 5/5/2011
Posts: 978
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
Stiffler
#18 Posted : Monday, March 26, 2018 7:39:09 PM
Rank: Member


Joined: 11/7/2017
Posts: 181
Location: Nairobi
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...
innairobi
#19 Posted : Tuesday, March 27, 2018 11:31:48 PM
Rank: Member


Joined: 9/2/2010
Posts: 845
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.
murchr
#20 Posted : Saturday, March 09, 2019 7:48:35 AM
Rank: Elder


Joined: 2/26/2012
Posts: 14,369
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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