To salvage the stalling of housing projects that have been derailed by slowed payments of dues by members, occasioned by harsh economic-times, Urithi Housing Co-operative Society has initiated a campaign to restore and complete mired ventures in six months’ time.
Currently, members owe the society over Sh 2 billion, a deficit that has seen it slug in delivery of projects.
Addressing members of Panorama Gardens, the society chairman Samuel Maina noted with concern that the current economic challenges experienced in the country are detrimental to implementation of underway development projects.
Maina asserted that while many members take longer time to complete payment of their projects, their delays have exerted a lot of pressure on the co-operative to deliver the projects.
He was accompanied by his Vice chairman John Gachoka, Treasure Kevin Muthuri and CEO Julius Gachanja.
He said that many co-operatives use a social model and it sometimes become hard for such to push them like other financial institutions such as banks.
“It is therefore incumbent upon us to ensure that, through the support of our members I believe it is attainable,” he said.
Maina called on the society members to ensure that they pay up the debts that they owe the organization to help it meet their obligations.
“Team up with us and ensure that we are able to meet our obligations despite the hard-economic times. We reckon that if we don’t pay up, there are other obligations that will be derailed because we must continue constructing houses and issuing title deeds,” he said.
Restoration and completion of projects campaign will run for the next six months within which the co-operative will be delivering projects week after another.
In six months’ time, the co-operative hopes to have delivered 80 percent of all it’s projects
“The campaign is geared towards sensitization of members that despite the hard-economic times such as lack of disposable income, as a society, we still need to honour our obligations towards completion of projects we promised two to three years ago,” he said.