Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Kamundia Muriithi Coffee farmers in the County have inched closer to milling and marketing their produce together following the arrival of Sh72million machinery at a new mill’s premises in Kavutiri area. The milling machinery with a capacity of 2.8 tonnes per hour was procured from Brazil and was financed through a loan from Commodities…
UN Sacco, one of the most liquid in the industry, has also decided to play safe. “Our investment wing is still a baby. So what we concentrate on is buy land on behalf of the members. We then seek out those interested for them to contribute and acquire the plots. We do not commit Sacco…
By Wasike Elvis Hawkers in the County have been told to join Saccos in order to improve their livelihood and standards of living. Speaking to hawkers recently, Executive in charge of Trade, Co-operatives, Industrialization and Enterprise Funds, Philip Melly urged the hawkers to acquire identity cards so that they can be members of Saccos. “You…
By Jackson Okoth Kenya’s booming real-estate sector continues to be a good hunting ground for co-operatives, who are taking advantage of cheaper financing options to buy land, residential and commercial buildings and transferring them to their members and the public. At the end of the transaction, co-operatives make a tidy sum a kill in investment…
By Jackson Okoth Not all Saccos with deep pockets are keen to acquire parcels of land for its members or even construct expensive maisonettes and bungalows for sale. “Although we possess the largest total assets size, we have not gone big on property because we do not want to down members’ cash for long periods….
By Jackson Okoth Kenya’s Sacco sector earned Sh40.4 billion as income from loans, Sh 2.3 billion from investments and Sh 4.7 billion as other incomes, raking in a total income of Sh47.4 billion. This is according to The Kenya Financial Sector Stability Report, 2015 prepared jointly by Central Bank of Kenya, Capital Markets Authority, Insurance…
By James Wakahiu Members of Co-operative Societies have been urged to read and understand their own bylaws as well as the Co-operatives Societies Act so as to avoid bringing unnecessary disputes before the Co-operatives Tribunal. “There are numerous cases and disputes that will not have ended up at the tribunal if members of co-operatives and…
By Jackson Okoth The defunct Kenya National Federation of Co-operatives (KNFC) is yet to sell off its assets, 36 years after it was first placed under liquidation by the Commissioner of Co-operatives. In a recent notice, KNFC announced that it is selling invites tenders for purchase of a go down situated in Nairobi’s Industrial Area…
By Tsozungu Kombe Savings and Credit Co-operative Societies (Saccos) have been urged to embrace Information Communication Technology (ICT) to enhance efficiency in service delivery. Qwetu Sacco Chairman, Alfred Mlolwa, expressed concern that many Saccos in the country have failed to deliver quality services to members due to lack of ICT skills. He, however, emphasised the…
Legal action will be taken against those groups that fail to repay the Uwezo funds loan in Malava Sub-County. The National Government Constituency Development Fund (NG-CDF) Fund Manager Marygorety Wanjala confirmed that out of the 127 groups that were given the revolving funds four groups have not started servicing their loan and efforts to reach…
