Consistent Members to earn dividends

The Catholic Church ran Basilica self-help Welfare group in Nairobi County has approved Sh. 5.1 million dividends to its members starting this week.

The members will be paid at 4.9 percent of the total shares as at February 28, 2017 and only active members who have been paying their dues faithfully to the self-help group shall enjoy the dividends through the Caritas bank.

While announcing the achievements of the self-help group at the weekend the Chairman of the group, Patrick Mugo said the group had registered a surplus of Sh.5.1 million compared to the previous year when they managed 6,937,578.

The chairman made the remarks during an Annual General Meeting which was well attended.

The function was preceded with a Holy Mass followed by the official opening of the new office located at the Cardinal Otunga Annex.

Formerly, the self-help group operated from a container which had been converted into an office as the group grappled with teething problems of office space.

After the chair specified on those who would smile all the way to the bank for dividends, some members, who confessed of having being dormant expressed their concern saying it was robbery.

All Money towards the group is paid through the bank and banking slips availed to the office for computation.

The mode of transaction therefore calls for total discipline from members as opposed to other co-operatives where they use check off system to recover loans or shares.

A distraught member (name withheld) who talked on behalf of a group which was affected by being dormant said it was unfair for some people to miss dividends when their shares were still being held by the group.

She said so long as one’s shares were being held by the group, they should enjoy dividends as they were still bonafide members but had technically missed to pay up their shares because of some unavoidable circumstances which was beyond their control.

This explanation should be understood by the management and deliberate attempts to deny dormant members dividends were unacceptable, she said.

On this, the chairman referred her to the manual that governs the self-help group and other members in attendance supported him on that rule and agreed regulations must be respected.

As the day progressed, the senior members complained of hunger and suggested that in the next general meeting there should be snacks as some of them could not stomach the pangs of hunger for many hours.

Some of us are very old and weak and when you make us to starve, our sugar levels will go down and it might disrupt us from the meeting and be forced to start calling for ambulances to take us to hospital Mary Baraza said amid applause from others who in her category.

Source: Kenya News Agency