Unveiling the Faces Behind the Iconic Afya Centre Building
Along Tom Mboya Street, Afya Centre is one of the most recognizable structures in the Central Business District (CBD) of Nairobi.
Residents of Nairobi have utilized it as a landmark and gathering place for decades.
Despite the popularity and significance of the 21-story building, little is known about its owners.
GossipA2Z conducted research and determined that the building is owned by Afya Investments Co-Operative Society Limited shareholders.
The Society’s website states, “We own 16 residential maisonettes on Kamburu Drive off Ngong Road and the 21-story Afya Co-operative Center in Nairobi City.”
Twenty members established the Sacco in May 1971 to diversify the company’s revenue streams.
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The co-founders are not the only owners of the building, as all shareholders, who number over 38,000 at present, share equally in the building’s income.
“The shareholders of Afya Sacco own 100 percent of Afya Investments. The maisonettes and Cooperative houses are both rented to generate revenue for the members.
Sacco explains the distribution of the collected revenues as “annual dividends to members.”
Afya Centre generates millions of shillings annually since it is a major business center that houses, among other offices, specialized medical clinics, banks, and restaurants.
The shareholders also use the building as the headquarters of the Afya Sacco Society and the Front Office Services Activities of the Sacco (FOSA), in addition to renting it out to investors.
By joining the Sacco, any Kenyan can become a part-owner of the Afya Centre building.
This is accomplished by paying a one-time fee of Ksh1,000 and purchasing at least 1,000 shares at Ksh20 each.
Unveiling the Faces Behind the Iconic Afya Centre Building
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