The Safaricom Investment Co-operative (SIC) is facing significant financial woes, exacerbated by a series of rapid CEO exits and questionable land deals.

• A controversial 30-acre land purchase in Eldoret, initially opposed by former CEO Sarah Wahogo, has become a major liability, contributing to SIC's "historical problematic lands."
• SIC has seen a revolving door of top executives, with Jared Odhiambo being the fourth CEO in two years, and over a dozen senior managers exiting since 2024.
• The co-operative is undergoing a major retrenchment, cutting its workforce by nearly half, from 90 to about 50 employees, to reduce personnel costs from Sh140 million to under Sh65 million annually.