Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Andrew Walyaula Waliaulaandrew0@gmail.com The High Court has ordered for the immediate removal of Ramana Rao as Mumias Sugar company receiver- manager. In his ruling, Justice Alfred Mabeya said that Rao hadn’t complied with the court order that required him to call a creditor meeting to affirm the total amount owed by the company. The…
By Asa Maina One of the youngest Saccos in Nyeri County has paid out dividends at 4 percent and interests on deposits at 6 percent. Nyeri South Traders Sacco’s dividend payout was, however, a drop compared to 10 percent paid out in 2020 and eight percent in 2019, which was attributed to the challenges of…
By Talarus Chesang More than 200 coffee farmers in Baringo can now smile to the bank after they earned a whopping Shs 28 million for exporting their first consignment of coffee to Korea. The farmers, from 27 groups, converged at the Katimok coffee factory in Baringo North to receive their dues. The benefits the farmers…
By David Kipkorir Kenya’s cash crop farming has lost its glamour as farmers decry dwindling fortunes, abandoning it for other alternatives. The beleaguered farmer is losing hope in the crops they depended on for their survival. Many farmers in the country have been uprooting coffee trees, complaining of hard economic times they have faced in…
By Obegi Malack obegimalack@gmail.com The Permanent Secretary for State Department of Cooperative Ali Noor Ismail has commended cooperatives for their contribution in the government agenda of affordable housing. The PS who was speaking during Ukulima DT Sacco’s 50th anniversary in a Nairobi Hotel said the Saccos provides 80% of housing needs in the country…
Kingdom Bank, formerly Jamii Bora Bank contributed over Sh 500 million profit before tax The bank has recommended dividend payment of Sh 1 per share, or Sh 5.9 billion Total Assets grew eight per cent during the year to Sh579.8 billion from Sh536.9 billion in the year 2020. By Roy Hezron The Co-operative Bank Group…
By Sammy Chivanga Savings and Credit Co-operative Societies (Saccos) are declaring increased dividends on continued recovery from the Covid-19 economic headwinds that had slowed business activities and increased the need for cash preservation. Many Saccos have made increased cash distributions in what offers timely boost to members ahead of the start of crucial activities such…
By Sammy Chivanga Savings and Credit Co-operative Societies (Saccos) are expected to emerge the biggest winners as Co-op Bank of Kenya Board recommended a Sh1 per share dividend amounting to Sh.5.86 billion, where Saccos are in line to receive Sh.3.79 billion from the amount. With this year’s dividend payment, Kenyan co-operatives through Co-op Holdings will…
By Tsozungu Kombe 162 active cooperative societies in Kilifi County have mobilized asset to the tune of 12.5 billion, Sacco review has reliably established. Speaking during Imarika Sacco’s special delegates meeting held at Pride Inn Paradise Hotel in Mombasa county recently, Kilifi County Cooperative Development Ministry Chief Officer Ms. Mary Mkare said that out of…
By Benedict Ng’etich Coffee farmers in Kericho have broken historical records by exporting to Korea 134.4 tonnes of coffee valued at $908,160 directly to South Korea. The farmers bypassed the Coffee Auction and deep rooted cartels in the value chain in the process doing direct sales, taking advantage of current reforms in the sector. At…
