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…

Read More
Proceedings during Ushirika Day celebrations by Imarika Sacco Members in Kilifi County. Photos cxourtesy

Imarika Sacco commemorates Ushirika Day in Kilifi

Imarika DT Sacco celebrated International Cooperatives Day, locally known as Ushirika Day, on Saturday, July 6, 2024. The Sacco Chairman John Nziro, Board of Directors, CEO George Yongo Ngala, and management, along with other key figures, gathered to mark the 102nd Ushirika Day. Kilifi County Governor Gideon Mung’aro was also in attendance. The Ushirika Day…

Read More

Active Co-op members more optimistic and happier lot, study shows

Active members of a cooperative are more likely to be assisted by their respective entities in case of any unforeseen challenges, a recent research study has shown. According to a Cooperative Resilience Longitudinal Study in Kenya, which was conducted for the last 5 years, about 82 per cent of cooperative members expressed certainty that if…

Read More
Acumen Sacco members during their AGM.

Saccos holding KSh91 million in unclaimed assets

James Kinuthia was a member of one of the biggest Saccos in the country; he was employed and used to contribute Ksh1,000 monthly. In the year 2001, Kinuthia lost his job, rendering him unable to make the monthly deposits. Subsequently, he withdrew his deposits, receded to the village and lost contact with his Sacco. Little…

Read More
Cooperatives and MSME Development Cabinet Secretary Simon Chelugui.

Fired Cooperatives CS Chelugui speaks out

Cooperatives and MSME Development Cabinet Secretary Simon Chelugui has issued statement moments after being sacked. In a statement shared on X, Chelugui thanked President William Ruto for entrusting and giving him an opportunity to serve the people of Kenya under his administration. While quoting bible, Chelugui thanked Ruto and Kenyans and promised to support Ruto…

Read More
Cooperatives and MSMEs Cabinet Secretary Simon Chelugui at Cooperative University of Kenya.

Will Ministry of Cooperatives be merged with another ministry in the upcoming changes?

Cooperative sector stakeholders are now waiting to see if the President Willaim Ruto will keep the Ministry of Co-operatives and Micro, Small and Medium Enterprises Development as standalone ministry or it will be absorbed by other ministries. This is after President dismissing all members of his Cabinet including Attorney General. Ruto announced that only Prime…

Read More
Meru Senator Kathuri Murungi addresses coffee farmers at Kariene market in Central Imenti constituency. Photo John Majau

Senator wants private coffee millers audited to tame theft

Senate Deputy Speaker Kathuri Murungi has called on the government to audit all private coffee millers across the country following the increasing coffee theft cases. Speaking at Kariene in Central Imenti Constituency, Kathuri who is also the Meru Senator urged the ministry of agriculture to move with speed and collect data on source and volumes…

Read More
Kisumu ASK Chairman George Ong’udi

President Ruto to preside over livestock auction in Kisumu this month

President William Ruto is expected to preside over a livestock auction at this year’s Agricultural Society of Kenya (ASK) Kisumu Regional Show, slated for July 24-28 at Mamboleo Showground. The auction, which is being held for the first time in Kisumu County, will be a key attraction at the regional show, which has attracted over…

Read More
Machakos County Governor Wavinya Ndeti (in beige suit) with farmers in Mbiuni, Mwala where she launched the government's support to farmers in various cooperatives through the Emergency Locusts Response Fund on July 10, 2024. Photos by Stephen Muthini.

Machakos cooperatives receive support to improve marketing of farm produce

Four Saccos in Machakos County have received support from the county government through the Emergency Locusts Response Fund (ELRP) in order to improve on collective marketing of farm produce and increase access to savings and credit facilities. The four farmer producer organizations will receive an inclusion grant of KSH500,000 each through ELRP programme which today…

Read More
President William Ruto during launch of Financial Inclusion Fund in November 2022.

KCB responds to auditor queries on Hustler Fund

KCB Bank Kenya Limited has issued a response to the queries raised by the Office of Auditor General on Financial Inclusion Fund (Hustler Fund). Auditor General Dr Nancy Gathungu had issued a disclaimer opinion, citing inconsistencies in the management of the fund. Through a statement from the bank Managing Director  Annastacia Kimtai , the financial…

Read More
KRA headquarters.

KRA records 11.1 per cent growth in revenue collection, misses target

Kenya Revenue Authority (KRA) has recorded an increase in revenue by 11.1 per cent in the Financial Year 2023/2024 up from 6.4 per cent in the previous financial year. The authority collected KSh2.407 trillion compared to KSh2.166 trillion in the previous financial year. KRA says the performance translates to a performance rate of 95.5 per…

Read More
Not Allowed