Urithi Housing Cooperative Society Limited, which was started only four years ago, has grown into a Sh6 billion organisation, the society’s chairman Samuel Maina has told members. Speaking during the society’s fourth annual general meeting held at the Ruiru Sports Club in Kiambu county, Maina said the society, whose assets stood at Sh4 billion as at the end of last year, grew by Sh2billion in the last six months.
“Within two quarters, the organisation has grown by Sh2 billion with a plan of growing by another Sh2 billion in the second half of 2016,” Maina said. Urithi has undertaken over 90 projects, 50 of them now complete, settling close to 8,000 members of whom over 4,000 have received their title deeds.
“We plan to issue another 2,000 titles by end of the year,” the chairman said. Deputy Commissioner for Co-operatives Joseph Njage said Urithi was unique in its form, substance and style of doing things.
“The Department of Co-operatives will give incentives and assistance to Urithi and other like-minded housing societies to help bridge the gap of lack of houses,” he said. Kiambu County Cooperatives commissioner Ephraim Mathenge said out of Sh0.5 billion shares owed by 42,000 members in housing coops in the county, Sh106 million belonged to Urithi’s current 16,000 members.
“This is not a small achievement considering that Urithi was started barely four years ago,” Mathenge said, echoing Urithi officials call for youth to join societies. He said Kiambu county was one of the best places to invest, work and live in.
Thika West Coop Officer Catherine Mbuki urged Urithi members to repay their balances promptly to enable the society climb the ladder without a hitch. During the AGM, members gave their management committee borrowing powers of upto Sh2 billion during the 2016 – 2017 financial year.
All officials were re-elected unopposed in elections presided over by Mbuki. The societies chairman Samuel Maina, supervisory committee chairman Samuel Mwaniki and Treasurer Daniel Kamau were re-elected unanimously. Acting director for marketing, Gerald Mugo and society vice chairman, John Chege Gachoka, were also unanimously confirmed.