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Stoke UK Diaspora SACCO was registered on 9th June 2017 to meet the financial needs of Kenyans in the diaspora and in Kenya and enable them to enjoy the fruits of the cooperative movement.
The Sacco fosters a savings culture that requires each member to save a minimum of Kshs 10,000 monthly. The savings earn interest and a member can borrow a loan of up to four times the amount they have saved. Each member is also required to buy a minimum of 10 core shares worth a total of Kshs 100,000 (Kes 10,000 per share) within 6 months of joining. The Sacco engages in viable investment ventures that generate dividends for members based on their share ownership.
In 2021 the Sacco applied and was successfully granted authorization to operate under the Sacco Societies Regulatory Authority (SASRA) in line with Sacco Societies Act No.14 of 2008 and the Sacco Societies (Non-Deposit Taking Business) Regulations, 2020. The Sacco was formally renamed Stoke UK Diaspora Regulated Non-WDT-Sacco Society LTD.
SASRA regulation also meant that the Sacco was now restricted in the percentage of its investment portfolio that could go into property. To help with compliance, Stoke Investments PLC was registered on 17th August 2021 as a purpose vehicle to invest in Property and other investments that benefit members. All members of Stoke UK Diaspora Sacco are eligible to join Stoke Investments PLC as shareholders if they so choose.