Let’s know if you plan to sell your shares: Tembo Sacco

Dear Yvonne,

Kindly find out from Tembo Sacco, on my behalf, why the financial institution has refused to refund my money.

I saved with the sacco between December 2012 and August last year.

I secured a job at Kenya Breweries Limited (KBL), Ruaraka plant, in September 2012. However, my job lasted for just a year.

Consequently, I withdrew membership from the sacco and when I went to collect my savings, I was shocked to get only Sh8,000 out of the Sh31,000 that I had saved.

On asking about the balance, I was requested to scout for someone — a member — to buy it as shares so that I can get my savings in cash.
My question is, why did the sacco fail to disclose this crucial information when recruiting me?

I put it to you that if I knew this would be the situation, I would not have joined it.

I have been in and out of many offices looking for help to this problem in vain. I am now tired and hopeless. All I wish to know is whether the sacco will ever refund my money or whether it is lost forever.

Thank you in advance.

— Franceen

Hallo, Franceen, and thank you for seeking our intervention to recover your savings.

On contacting the Tembo Sacco administration, we were informed that the savings group minimum shareholding stands at 1,000 shares of Sh20 each.

At the moment, you should not count this is a loss because you still have shares with the sacco. This implies that you stand to benefit every time the firm is paying its members dividend.

According to the sacco’s explanation, when you joined, you bought shares.

Therefore, in the event you want the money you invested in the shares, you will be required to visit the Nairobi Securities Exchange and sale your stake.

Tembo Sacco, however, noted that it also facilitates buying and selling of the shares when it gets a willing member.

Kindly inform the sacco of your intention to sell your shares so that it has you in mind whenever a buyer comes on board.

This should enable you to get the remaining part of your money once the shares are bought.

We hope we have been of help. Kindly feel free to get in touch with us if you need further assistance.

Dear Yvonne,

Thank you for your efforts to help many people solve pressing problems.

I have taken long to write to you because I still had hope that the Kenya Revenue Authority (KRA) would act regarding an application I made in 2013.

Like some previous complaints I have seen in this column, I too applied for transfer of motor vehicle ownership on 10 April, last year.

I paid all the dues and was informed that it would take three weeks, at the most a month, to complete the transaction.

I have visited the KRA offices every two weeks since then with no success. I even tried contacting it online to no avail. A complaint letter to its offices did not prompt it to act either.

In fact, on three occasions, I was asked to go to the organisation’s offices on third floor, Times Tower, Nairobi, but its officers have perfected the art of turning to what has become a tired excuse: “The person who deals with this transferred to Machakos”, “the best person to see is currently in a day-long meeting. Please, come on Wednesday next week”.

Why does KRA think I would believe this? I keep wondering. If the documents were misplaced, why has it not asked me to apply afresh?
I would be grateful if you helped me, Yvonne. It is not safe to drive a car with no logbook.

— Eddah K

Hello Eddah,

Yes, we agree with you that KRA has failed in not informing you about the progress of your transaction.

We got in touch with the revenue authority about your complaint and the taxman promised to solve it without further ado.

We were, however, glad to get word from you last week that you are now in possession of your logbook.

In your email, you stated that the document was processed in June, 2013, but skipped by mistake during submission for signing.

Looking for answers?

Send your queries and daytime telephone numbers to Yvonne Kawira: E-mail:

[email protected]