Month: July 2020

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  • Vihiga’s 95 registered Saccos plagued by challenges

Vihiga’s 95 registered Saccos plagued by challenges

By Our Reporter Vihiga County has well over 95 registered co-operative societies based on agriculture and savings and credit co-operative societies (SACCOs), housing, handicraft, and transport services. These co-operatives are…

Sh.1 billion Corona kitty mooted to cushon Sacco members

By Sammy Chivanga The State Department of Co-operatives is rooting for a Covid-19 response team to mobilise up to Sh1 billion kitty to support members of co-operative movement and their…

Kenya bags Sacco member growth award

By Staff Reporter Due to its nonpareil promotion for the growth of cooperative societies, Kenya has earned a global accolade for particularly welcoming close to one million members in a…

CIC Group pays Sh. 32 million to Amica Sacco despite Covid-19 challenges

CIC Group, a leading cooperatives insurer in Africa, has settled a Sh. 32 million fire insurance claim in favour of Amica Sacco. The claim arose from a fire incident in…

Jamii Bora to get a boost from Co-op Bank after buyout

By Staff Reporter Co-op Bank is set to pump more resources to the staggering Jamii Bora Bank as soon as it completes purchasing a controlling 90% stake in the small…

Full in-tray for new Commissioner for Co-operatives Njang’ombe

By Our Reporter The acting Commissioner for Co-operative Development Geoffrey Njang’ombe is facing a full-in tray for the sector, with little time to settle given the disruption caused to the…

Private school Saccos experience financial impotence as Covid-19 cases hit the ceiling

By Tsozungu Kombe Private school-based Savings and Cooperative Societies (Saccos) in Mombasa County have been greatly affected by the Covid-19 pandemic. Mombasa County Cooperative Commissioner Nelson Nyoro attributed this to…

Cooperatives run on half budgets as Covid-19 halt meetings

By Sammy Chivanga Cooperative Societies have been given a special window to start spending part of their unapproved budgets in the wake of the Covid-19 pandemic that has made it…

Bestrock Sacco pays dividends to members online

By Boniface Mulu The management of the Kitui based Savings and Credit Cooperative Society Limited has paid a total of 1,480,508 shillings dividends to approximately 500 members online. Normally, the…

Is expanded membership becoming burden for Saccos?

By Sammy Chivanga The coronavirus pandemic has reinforced the need for Savings and Credit Co-operative Organisations (Saccos) to diversify membership in order to reduce existential risk. Kenyan economy continues to…