Dear Comrades, the management committee of KOBA held consultations and agreed to initiate the above kitty effective 01 April 2021, in line with our current strategic plan and last year’s AGM resolution.
Any alumnus is welcome to contribute to the kitty at Ksh300/= per month (or 10 Bob per day). We shall have a grace period of 3 months before any benefit is paid out, to allow for accumulation of the Kitty to a point where it can sustain payments. Initially, the Kitty shall cater for burials and hospitalization. However, we shall progressively review the package of benefits as the months go by.
Below are the benefits accruing to contributors for now:
1. Contributor 25k (to the next of kin)
2. Dependant 20k
3. Parents (biological only) 20k
4. Parents in-law (biological only) 10k
5. Sibling (biological bro/siz only) 10k
b) Hospitalizations (only once per year):
1. Contributor 10k
2. Dependant 10k
We shall open a bank account in the first week of April and notify members of the same to contribute. In the meantime, we shall circulate a list, requesting subscribers to insert their name. Later, we shall share with subscribers a registration form and obtain particulars of contributor, their parents and their dependants.