Frequently Asked Questions

• What procedure can I follow as I submit the land loan to CareCoop?

  The standard procedure that is applicable for all types of loans will apply.

• Can I get financing for the additional fees

  Yes. CareCoop has taken this into account and the following are the loan amounts that should be made to cater for all the fees involved:

  1. 50x50 meters = K130,900. Loan amount to apply will be K 142,194.44 Includes 7.5% property transfer tax + Credit life insurance + transfer fees.
• What will happen if I want to acquire the CareCoop land loan to finance the land priced at K600, 000?

  Note that CareCoop currently only gives loans up to K500,000. Therefore, if a member wants to acquire this type of land, they will have to pay the difference from other sources. Note also, that the K500, 000 will be made of a combination of loan products as the CareCoop Land Loan has a limit of K250,000

• Are there any hidden fees that a member should know?

  The following are applicable:

  • 1% credit life insurance as per any other loan product available to CareCoop members will apply
  • K55 funds transfer fees to Rephidim will apply
  • 5% property transfer tax is to be borne by individual member in order for rephidim to process individual titles
• What is the procedure for the land acquisition?

  The following steps are applicable:

  1. Contact CareCoop assigned number and visit Rephidim
  2. To view site and select plot of choice
  3. Apply for a CareCoop land loan
  4. CareCoop will then pay Rephidim
  5. Rephidim will sign a contract of sale with Individual
  6. Member and Title assigned
  7. Title will be given to CareCoop as security
  8. Member is free to develop their land
  9. Begin loan repayment
  10. Once the loan is fully repaid, CareCoop will give title to Member
• Can I get more than one plot?

  Members are at liberty to acquire as much land as they can. There is no limitation.

• Is there need for collateral?

  The title deed for the land purchased will be used as the security or collateral for the loan. Therefore, members who borrow this type of loan will not be required to bring additional collateral.

• What are the loan terms?

  The CareCoop land loan is priced at 1.2% For a tenure of up to 36 months (T&Cs apply depending on one’s debt service ratio etc)

• How can I get financing to buy the land?

  You can download the Loan application via CareCoop website (www.carecoop.org) and select Land Purchase Loan https://carecoop.org/loans/land-purchase-loan

• Is the land on title?

  Land is on title and separate titles are available for each piece of land.

• How can I view the land?

  You can contact 0979-808195 to arrange for site viewing between Sunday- Friday 08:00 to 16:00 hours

• Location

  Situated in Palabana area, 17 KM from Crossroads and 3 KM off Leopards Hill Road from Palabana Junction.

• How much and what size are the plots?

  PLOT #	SIZE (sqm)	PRICE
  1	980	K147,000.00
  2	906	K135,900.00
  3	904	K135,600.00
  4	1039	K155,850.00
  5	942	K141,300.00
  6	996	K149,400.00
  7	942	K141,300.00
  8	942	K141,300.00
  9	946	K141,900.00
  10	548	K82,200.00
  11	911	K136,650.00
  12	913	K136,950.00
  13	1016	K152,400.00
  14	926	K138,900.00
  15	1031	K154,650.00
  16	942	K141,300.00
  17	1031	K154,650.00
  18	942	K141,300.00
  19	1031	K154,650.00
  20	942	K141,300.00
  21	1031	K154,650.00
  22	942	K141,300.00
  24	937	K140,550.00
  25	1031	K154,650.00
  26	930	K139,500.00
  27	1109	K166,350.00

• How much is the dividend pay-out per Share?

  The dividend payout depends on the financial performance of CareCoop. These are paid immediately after approval of the audited financial statements during the CareCoop Annual General Meeting (AGM) in March.

• Why should Members buy Shares?
  • We have a legacy built over three decades and now plan to redefine and build the future of the Coop together with our members.
  • The project undertaking will play a pivotal role in transforming the outlook, strength, and balance sheet of the Coop.
  • This lays the foundation of greater returns to come for our shareholders as we set ourselves to become the engine of SACCOs in the country.
  • It’s a smarter way to grow your wealth.
  • Historical dividend has been higher than what is declared on the stock market.
  • The investment provides potential for significant capital appreciation over time.
• How will Share certificates be issued?

  For the current Share offer, digital certificates will be issued for the Shares purchased.

• What is the turnaround time for processing of Share applications?

  Confirmations of entitlement to shares by means of share certificates will be issued for all successful subscribers within Sixty (60) days of purchase. Members who may not have received their certificates may contact CareCoop through its official communication channels.

• What is the purpose of the Share offer?
  1. To strategically position Care Coop for growth
     • Building scale in existing business
  2. Infrastructure upgrade
     • To diversify the investment portfolio to include real estate.
  3. To enable CareCoop members own equity of CareCoop
• What is the Share subscription offer period?

  The Shares subscription period is from June 2023 – November 2023

• What procedure can I follow as I submit the land loan to CareCoop?

  The standard procedure that is applicable for all types of loans will apply.

• What will happen if I want to acquire the CareCoop land loan to finance the land priced at K600, 000?

  Note that CareCoop currently only gives loans up to K500,000. Therefore, if a member wants to acquire this type of land, they will have to pay the difference from other sources. Note also, that the K500, 000 will be made of a combination of loan products as the CareCoop Land Loan has a limit of K250,000

• Are there any hidden fees that a member should know?

  The following are applicable:

  • 1% credit life insurance as per any other loan product available to CareCoop members will apply
  • K55 funds transfer fees to Rephidim will apply
  • 5% property transfer tax is to be borne by individual member in order for rephidim to process individual titles
• Can I get more than one plot?

  Members are at liberty to acquire as much land as they can. There is no limitation.

• Is there need for collateral?

  The title deed for the land purchased will be used as the security or collateral for the loan. Therefore, members who borrow this type of loan will not be required to bring additional collateral.

• What are the loan terms?

  The CareCoop land loan is priced at 1.5% For a tenure of up to 36 months (T&Cs apply depending on one’s debt service ratio etc)