SACCO Co-operatives

Chelugui: Gov’t to channel all resources via Co-operatives

Cooperatives and MSMEs Cabinet Secretary (CS) Simon Chelugui has said co-operatives have been an important socio-economic development tool since independence, and thus the need to channel all resources through the sector. “We want to reposition our country in all sectors through the cooperative model for meaningful growth, including in the realization of the bottom-up economic…

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KMRC report affordable housing

County support will boost development of resident Saccos, expert says

The Co-operative movement in the country’s Western region can only register development if county governments put proper measures in place to support Saccos in their jurisdictions, seasoned co-operative expert Owuor Awuor has advised. Owuor, who is a long-time regional leader of the giant Ushuru Sacco, observed that most co-operative societies in the region are not…

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Co-operatives set for a dividend bonanza from Co-op Bank’s Ksh8.8B cash dividend payout

By Felix Wanderi Co-operative Bank board of directors has recommended a dividend of Ksh 1.50 per share, subject to approval by the regulators and shareholders. Co-op Bank Group CEO Gideon Muriuki said the proposed dividends represent a 50 per cent increase on the Ksh 1.00 per share paid out last year. He added that the bank will pay out a…

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Co-operatives important wealth creators

By Boniface Mulu Kitui County Trade, Co-operatives and Investment Minister Philip Mumo  has said that the co-operatives are an important and efficient instrument to create wealth and fight poverty. “They bring people together in a democratic and equal way and allow people to take control of their economic future,” the minister added. Mumo said that…

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Co-ops challenged to reap from Big Four Agenda

By Asa Maina Housing co-operatives have been urged to focus and broaden to outreach individual members so that they can join the corporate ownership of houses and improve the quality of their homes. The Chairman Nyeri County International Co-operative Alliance (ICA) celebrations committee Newton Nderitu said high interest charged on mortgages have made it difficult…

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Co-operatives want State to waive farmers’ debts

By John Majau Co-operative leaders in Meru County want the national government to clear debts owed by farmers’ societies. Meru Dairy Co-operative Society chairman Mr Simon Kiruja urged Governor Kiraitu Murungi to petition President Uhuru Kenyatta on behalf of farmers to waiver the debt. Coffee Farmers Chairman Mr Mbaabu Mitunga lauded Kiraitu for adapting and…

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Co-operatives opposite proposed excise duty

Titus Murithi Co-operative stakeholders have asked the National Government to put aside proposals affecting Saccos in the current finance bill. Tirus Nyaga, Southern Star Sacco Chairman, said the proposal requiring any bank transfer of Sh500, 000 and above to attract excise duty of 0.05 per cent amounted to double taxation. “The proposal is not good…

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