Nairobi, Wednesday April 10, 2019—CIC Insurance Group will on Thursday train leaders from the co-operative movement in financial management at the Nairobi Hilton Hotel. The training—geared towards  entrenching good corporate governance and prudent management of personal and corporate finances—will bring together nearly 300 CIC delegates.

Mr. Japheth Magomere, the Group’s Chairman, and also the President of the International Cooperative Alliance (ICA) Africa, notes that the co-operative movement, especially sacco societies, have in the past been faced by various challenges ranging from non-remittance of members’ deductions by employers, investment in non-core activities, non-performing loans, and changing technology amongst others.

“These challenges can be addressed through the adoption of modern management practices, as well as regular training of the leaders on topical issues’’ notes Mr. Magomere.

Since its inception 50 years ago, CIC Insurance Group has continued to play a critical role in the growth and strengthening of the co-operative movement.

“As a leading co-operatives enterprise, CIC Insurance has demonstrated commitment to support the growth of cooperatives and co-operative enterprises by developing several insurance products to address the needs of the sector. Indeed, the success of the company is a testament to the overall success of the co-operative movement in Kenya”, says Group CEO Mr. Tom Gitogo.

“Capacity building, training and education remain critical for co-operative development in the developed and developing world, and strengthening networks is crucial’’ Mr Magomere says.

Now boasting regional presence in Kenya, Uganda, Malawi and South Sudan, the company plans to expand to the rest of Africa in partnership with co-operatives, as per the international co-operative principle of co-operation.