News

Co-operative Movement push for own Ministry

Ngarisha Sacco Chairman Benedict Simiyu addressing delegates.

By Staff Reporter A section of the National Co-operatives (NACOS) and the co-operative sector players in general have voiced concerns over lack of a Principal Secretary (PS) in the State Department of Co-operatives. The concerns come weeks after immediate former PS Ali Ismail left office over failure to be re-appointed by President Uhuru Kenyatta when he formed his Government earlier ...

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Co-ops plan to invest heavily in housing sector

Mary Mungai, Commisioner for Co-operatives speaks during the 2018 Ushirika Envronment Day.

By Stephen Makabila Under the Big 4 Agenda of President Uhuru Kenyatta’s last five years in office ahead of his retirement in year 2022, the co-operative sector is expected to be instrumental in the achievement of these agenda namely- Food Security, Affordable Housing, Manufacturing and affordable Health Care for all. The Co-operative sector is supposed to play a major role ...

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County to have Sh240m Smart Dairy Farms

Kakamega County Co-operative Commissioner, Mr Nathan Mukweso addressing the participants during the Ushirika Day celebrations.

By Our Reporter All sub-counties in Kakamega County will have a fully-fledged Smart Dairy farm station at a cost of Sh20 million. Deputy Governor Prof Philip Kutima said the county government has embarked on a Sh240 million Smart Dairy farms initiative. So far the stations have been established in two sub-counties. The facilities have each a capacity to accommodate 25 ...

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Co-op management lauded for prudence

By Godfrey Wamalwa Busia County Executive Committee Member for Trade, Co-operatives and Industrialisation Judith Maketso has lauded the management of Magombe Multipurpose Co-operative for the job well done. “Behind the floods in Budalangi there is something beautiful with potential that requires support from all the stakeholders,” she said. Maketso said the county government will fund the society to enable it ...

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Members’ lethargy fuelling corruption in Saccos-Official

Geoffrey Njang'ombe, Senior Deputy Commissioner, State Department for Co-operatives.

By Azael Masese Failure by co-operative members to interrogate the performance of their respective organisations has been identified as a weakness that needs urgent remedy. Intriguingly, this happens even in Savings and Credit Cooperative Organisations (Saccos) where majority of the members are the elite, leading to embezzlement of members’ savings. State Department of Co-operatives Senior Deputy Commissioner Geoffrey Njang’ombe disclosed ...

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Govt targets Saccos in money laundering

Deputy President William Ruto (right) shares a light moment with National Treasury Cabinet Secretary, Henry Rotich. Looking on is the Chairman of the Association of Micro Finance Institution (AMFI), Jeff Njagi   during a previous function. File Photo

By Munene Maina The Government has moved with speed to avert money laundering within savings and credit societies. At a time when several banks were implicated in the infamous National Youth Service scandal for violating the law leading to loss of billions of public money, the Government wants to seal all loopholes that may allow corrupt individuals to launder their ...

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CIC Group premium hits Sh15 billion in 2017

Gusii Mwalimu Sacco Board Vice Chairman, Mr Timothy Machana (right) receives an award from CIC Group Vice Chairman Peter Kipkirui on behalf of the society for being among the top investors with CIC Group. Looking on is CIC Group CEO Tom Gitogo. 
Photo/Azael Masese

By Azael Masese CIC Group weathered a tough 2017 to record double digit growth in all its critical market segments, positioning itself as a key financial market player particularly in the co-operative sector. The company posted Sh14.9 billion in premium in the financial year ended as at 31st December 2017 compared to Sh12.4 billion recorded the previous year, representing a ...

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KUSCCO bullish after acquiring IRNET

By Patrick Odenyo Kenya Union of Savings and Credit Co-operatives (KUSCCO) has launched a series of projects that will culminate into improved service delivery and efficiency for Sacco members. Addressing delegates in Nairobi’s Laico Regency Hotel during the 31 Annual Delegates Meeting, Kuscco Managing Director George Ototo said that last year’s transformative journey is set to change the way Saccos ...

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Societies urged to improve share capital, deposits

Machakos Cooperative Officer Mr Joe Maina . File Photo.

By Azael Masese Savings and Credit Co-operative Societies in Machakos County have been urged to conduct aggressive marketing campaigns to increase their business volumes. County Co-operative Officer Joe Maina  noted that critical among them is to improve on their share capital and deposits. Despite the societies’ closeness to Nairobi and the commercial opportunities it presents, almost all of them are ...

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