Outlook for Co-op industry in 2020

By Jackson Okoth Economists are already projecting tougher times for Kenya’s economy this year. But even with grim prospects and gloomy statistics, the resilient Co-operative industry is putting on a brave face. Latest figures from Sacco Societies Regulatory Authority (SASRA) databases indicate that Kenya’s Sacco Sub-sector holds total assets worth more than Sh 442.3 billion…

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CS Cooperatives Simon Kiprono Chelugui, PS Patrick Kilemi with Sacco leaders who will participate in the 2024 Women's Mentorship Programme (WMP) in Canada in June. Photo:Obegi Malack

Women leaders in Saccos sponsored to attend 2024 women’s mentorship programme in Canada

Eight women leaders who were selected to participate in the 2024 Women’s Mentorship Programme (WMP) organised by the Co-operative Development Foundation of Canada (CDF Canada) will depart the country on June 20 for the mentorship programme. The Women leaders of Credit Union will benefit from international professional development and mentorship opportunities. The program will run…

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Sacco Review team during the last year's International Day of Ushirika Day at KICC. Photo Obegi Malack

Cooperatives leaders roll out activities as they gear up for Ushirika Day celebrations

Cooperatives leaders have launched activities in preparation for the upcoming International Day of Cooperatives (Ushirika) Day to be marked on July 6, 2024. The theme for this year’s Ushirika Day is “Cooperatives build a better future for all,” it will be held in Nairobi County at the KICC grounds. State Department of Cooperatives Permanent Secretary…

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Nairobi Woman Representative Esther Passaris

Passaris urges Treasury to increase tax to bar banks, Saccos from lending to government

Nairobi Woman Representative Esther Passaris has urged the National Treasury to push the 5 per cent withholding tax on the interest income earned from the infrastructure bonds to 20 per cent. She revealed this in a statement on Thursday, May 16, 2024 seen by Sacco Review where she noted that the current proposed tax will…

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Chinga Farm in Nyeri emerges best in world coffee competition held in South Korea

Cabinet Secretary, Ministry of Co-operatives & Micro, Small and Medium Enterprises (MSMEs), Isaac Chelugui, revealed on Wednesday, May 15 that Kenya’s coffee was voted as the best coffee in a global competition. The World Coffee competition (WCC) was held in South Korea at the beginning of May. The recent competition featured several companies showcasing their…

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The CEO of DTB, Nasim Devji.

Six highest paid bank CEOs in Kenya earning over KSh65 million monthly salaries

The CEOs of major Kenyan banks, including Equity, KCB Group, NCBA, Diamond Trust Bank (DTB), Standard Chartered Kenya (StanChart), and Absa, received a monthly pay exceeding KSh65 million last year. In the previously mentioned list of the top six banks, KCB Group’s Chief Executive, Paul Russo, was among the highest earners, receiving a monthly gross salary of KSh14.8…

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Sony Sugar has new Managing Director, Martin Ogola Dima appointed

At long last Martin Ogola Dima can now take over as the new substantive Managing Director of South Nyanza Sugar Company Limited after the Court cleared him free of guilt. The Employment and Labour Relations Court in Kisumu threw out a suit challenging his recent appointment by the firm’s Board of Directors chaired by Jared…

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Sacco growth
Cooperatives and MSMEs Development CS Simon Chelugui

New KPCU disburses KSh52 million to coffee farmers, Machakos gets lion’s share

Ministry of Cooperatives and MSME Development has disbursed KSh52,212,976 Coffee Cherry Advance Revolving Fund (CCARF) to 3328 coffee farmers across 15 counties Cooperatives Cabinet Secretary Simon Chelugui indicated in statement on Tuesday that the funds were released between May 6, 2024 and May 13, 2024 through New Kenya Planters Cooperative Union (KPCU). A total of…

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CIC profits increase by 818 per cent to KSh1.4 billion in 2023

CIC Insurance Group’s 2023 profit after tax increased by 818 per cent of Sh1.4 billion  as a result to the improved investment income and growth in insurance revenue. “The business maintained a growth trajectory driven by the execution of our transformational initiatives focusing on customer experience, performance management, operational efficiency, digital transformation, research and innovation,…

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Minister for Co-operatives in Kajiado County Janet Sereu, Muungano Chair Ruth Wakapa (second left) with Kajiado North cooperative officer Salome Wangui (left) during the Muungano at Muungano Women Housing Cooperative Society 5th Annual General Meeting in Ongata Rongai Kajiado North.Photo: Obegi Malack.

Kajiado Cooperatives urged to learn from well-established Saccos

Kajiado County Executive Committee Member (CECM) for Gender, Co-operatives, Culture, Tourism, and Wildlife, Janet Sereu has encouraged upcoming self-help groups and Saccos to enhance their governance by learning from well-established Saccos. The committee member who attended Ongata Rongai Muungano Women Housing Cooperative Society 5th Annual General Meeting in Ongata Rongai Kajiado North Sub-county noted that…

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