Safaricom Investment Co-operative (SIC) is stepping up efforts to align its investment strategies with Islamic principles as it moves towards full Sharia compliance.
The co-operative is looking to Sharia to grow its customer base in the wake of increasing competition in the sector.
During an investment forum at BBS Mall in Eastleigh, SIC engaged with Muslim business leaders, including Eastleigh Business Community Association CEO Mohammed Adan, to discuss its progress and strengthen ties with the Muslim community.
The forum focused on providing investment opportunities that comply with Sharia law, reflecting SIC’s goal of meeting the financial needs of the Islamic community.
"We deeply appreciate the support of the Islamic leaders and business stakeholders for honouring our invitation. Your trust fuels our mission to deliver competitive, Sharia-compliant products that help transform the socio-economic lives of our investors," said Safaricom Investment Co-operative Chief Executive Officer, Churchill Winstones.
Since its founding in 2009, SIC has offered investment opportunities in real estate, marketable securities, and private equity.
With over 5,000 members in Kenya and abroad, SIC is now working to ensure all its operations meet Sharia requirements.
SIC’s portfolio includes land, housing, and business development, with over 100 land projects in 14 counties and housing projects in Nairobi, Kiambu, Machakos, and Kajiado counties.
