Cent Cent SACCO Products

Productive Loans Cent Cent SACCO Membership Shares Preference Shares Savings Fixed Term Deposits Other Loan Products

Preference Shares

Cent Cent Preference Shares [CCPS]

Cent Cent SACCO requires a certain investment in Fixed Assets including the Technological System/Hub to enable it to be a hundred percent digital SACCO (CAPEX) as well as Operating Expenses (OPEX) to be incurred before the SACCO becomes self sustaining. The general assembly in their meeting on the 25th of July 2015 resolved to open to all members the financing of establishment costs both CAPEX and OPEX through issuance of 1750 non-voting 9% Preference Shares of one hundred United States dollars (US$100) each. This window will be closed as soon as the SACCO can sustain its operations.

It was also resolved that specialised services offered by agreeable members or non-members can also be settled (during this period when the SACCO has no capacity to pay cash upfront) by offering redeemable preference shares in lieu of cash.
This was agreed when it was established that accumulating capital using the traditional method of modestly priced membership shares would require attracting a large number of members before operations commence – which would be a potentially daunting challenge.