The Board of a member-driven investment firm, Safaricom Investment Co-operative (SIC) has appointed Churchill Winstone Ochieng’ as its new Chief Executive Officer (CEO) just a month after Sarah Wahogo, who served for two years left the company to pursue personal interests.
His appointment comes after the cooperative reported a Sh203.4 million in net profit for the year that ended December 31, 2023 against Sh266 million reported in the same period under review in 2022. Before he was picked to take up the mantle, finance manager Stephen Mbugua was the acting CEO.
“We are confident that his impeccable track record in banking, telco, fast-moving consumer goods and facility management industries coupled with his proven ability to develop and strengthen management teams to maximize company profitability and efficiency will steer this Co-operative to the next growth phase. We look forward to drawing from his immense expertise and insights as we pursue our mission of creating impact through diversified investments,” said Safaricom Investment Co-operative Chairperson Judy Runo.
Prior to his appointment, Mr Ochieng’ served as the Managing Director at Sender Services Limited, a position he held for four years. Other positions previously held include Head of Airtel Money and Zonal Business in Sales and Distribution at Airtel Kenya Networks, Head of Personal Banking at Guarantee Trust Bank, General Manager, Personal and Business Banking at Faulu Kenya Bank, Head of Direct Sales Africa at Standard Bank Group and also Country Head of Sales Kenya at Barclays Bank of Kenya, now Absa.
He who holds a Master’s Degree in Business Administration (MBA) and a Bachelor’s Degree in Commerce from the University of Nairobi, is also currently pursuing a Doctor of Philosophy in Business Administration from the same institution.
Formed in 2009 to pursue investments in real estate, securities and private equity, the co-operative has since onboarded 5,000 members in Kenya, and the diaspora. It currently has four business lines namely land, housing, business development, and value-added services, with land business unit being its highest revenue contributor.
Some of its land projects include Marina Gardens in Kiambu, Oakwood in Kitengela, Brookvale Tuala in Rongai, Olpajeta Ridge in Nanyuki and Nakuru Greens.
The housing business unit has seven housing projects in Nairobi, Kiambu, Machakos, and Kajiado counties. Notable projects include The Miran Residence in Ruaka, Zaria Village in Kiambu and Marina Gardens.
The value-added services are housed under SIC Prime which is an e-commerce platform that taps into the established real estate space outside SIC, providing buying, selling, and building on behalf services in addition to interior design services.
The business development unit arm focuses on the strategies that will enable the delivery of new business pipelines, growth, and market penetration in various industries, such as property management and SIC Homes Expo.
Ochieng has the much needed experience, but whether he will position the company for future success remains to be seen.
