Kimbilio Daima is a savings and credit co-operative society (Formerly Chepsol Sacco ltd) situated in Kimulot Ward of Bomet County. Its Head office is situated in near Kapset Tea factory off kericho-sotik road. It was established in 1993 and registered as a co-operative society. It has grown gradually to open a FOSA in 1999 and is currently licensed as a deposit taking Sacco under the supervision of the Sacco Society's Regulatory Authority(SASRA) It currently has one Branch at the head office the second branch is underway and awaiting approval by SASRA since its feasibility study has already been done .It has tea as its main activity ; it has however expanded to include other members from the area who have found its services beneficial to them .These include employee of other companies and institutions e.g. factories which include Kapset tea factory, Unilever, James Finlays, George Williamson Tea, Kipsigis Highlands, Embomos County farm, Kaisugu Tea and learning institutions within the area.
To mobilize and prudently manage resources to offer sustainable financial services to create wealth for our Members
An economically empowering financial institution in Kenya
The Sacco’s core activity is savings and Credit. It does this by mobilizing member to save so as to borrow against the savings
Chepsol Sacco Plaza which is already under occupation ( a two storey building at Kapset factory centre)
Kaptebengwet Sacco Building which is already under occupation ( a one storey building at Kaptebengwet centre)
We now have a Complete and functional filling Station,
The Milk cooling plant funded by county government of Bomet as part of diversification and income generating activity for its members
Development Loan:- This regards to general purpose of loans where a member can invest in various activities like farming, business etc. It is repaid within a period of 3 years (36 months). The interest rate is on reducing balance
This is for school fees repayable in a period of 2 years (24 months). Interest rate is also on reducing balance method.
Emergency Loan:- This is meant for emergencies like; hospital bills and court fnes. It’s repayable in a period of 1 year (12 months). Maximum emergency guaranteed is Ksh. 20,000 or less depending on the native and amount required as per attached documents.
Contributions shall be made per month with minimum amount of Ksh 500. Every member shall be required to contribute towards group savings.
Micro credit entails lending of money to groups of persons who come together as savers in the sacco.
Loans disbursed reached an all high in 2017 when over 136 million was given out. Te fgure was 85 m. in 2016 and 94 m. in 2015.
On its CSR projects the sacco completed and commissioned one project for Mugenyi Primary school adding, “this year we expect to complete and commission a project for Chebangan Day Secondary school.”
During the ADM, new elections were held for delegates in some zones where the following were elected; Pastor John Mutai for Upper Chebangan, Mr. Musa Rotich – Chemalal and Geofrey Kapketwony Besiobei. Mr. Alfred Koskei was elected in the supervisory committee.
“We have ongoing projects such as buildings which are now complete in kapset and Kaptebengwet. Also, we have acquired plots for development in Embomos, Siomo and Kenyogoro,”he said. Mr. Bii said the milk dispenser was now complete and ready for launch before the end of April while the flling station will be completed by June. Te Chairman of the Supervisory Committee Mr. Paul Basiso urged members to increase their deposits from Ksh. 2,000 to Ksh. 5,000 in order to increase the unwithdrawable deposits, which will translate to a strong share capital for the sacco. “Such a move will see us as a sacco members automatically increasing loan borrowing capacity which in turn will enable our members access cash easily, “he added.
The chairman who was speaking at Kimbilio daima’s new Kaptebengwet branch ofces put up by the society, praised the delegates for their recruitment efforts that increased membership to 15,175 in 2017 from 14,144 in 2016. Account holders also witnessed an increase from 17,811 in 2016 to 18,887 in 2017.Te Chairman of Kimbilio urged its members to register as members of the investment group and buy shares. Mr.Bii told members to join the petrol flling station membership and other projects
The chairman during the ADM, revealed that the sacco was considering introducing payment of medical expenditure but told members the initiative needed an increase of member contribution from the current ffty shillings monthly to a hundred. The members agreed and passed the resolution. Kimbilio sacco also sponsors several children in Secondary school.
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