Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Our Reporter Mwalimu National Sacco have lost an appeal seeking quashing of sh 44.9 million tax demand by government. The High Court Justice David Majanja dismissed the petition detailing that an appellate court dealing with matters of law cannot engage in a factual exercise as it will be usurping the powers of the tax…
By Obegi Malack The National government has agreed to re-introduce the cooperative bill which was rejected by last parliament. Cooperatives and micro, small and medium enterprise cabinet secretary Simon Chelugui said they are committed to reintroduce the bill after a meeting with the council of Governors in Mombasa. Bungoma Governor Kenneth Lusaka who is also…
By John Majau Kenyans have continued to borrow from the Hustler Fund, with more than Ksh15.9 billion being disbursed by yesterday. Cooperatives and Micro and Small Enterprises Cabinet Secretary (CS) Simon Chelugui said more than 18.4 million Kenyans have subscribed to the fund while over Ksh 7.7 billion has already been repaid. The CS said 5.6…
By Our Reporter Police were forced to intervene and stop a meeting called by the Kimiti Housing Cooperative Society in Matungulu sub county of Machakos county. This is after some of the Sacco members began demonstrating against the society committee. They told Sacco review that they have no trust with the committee and needed elections….
By Fred Sitati The liberalization of the Cooperative Sector vide Sessional Paper No 6 of 1997 titled Cooperatives in a Liberalized Economic Environment gave Saccos a chance to rebrand to grow and enhance their competitiveness in the liberalized market. They rebranded by developing strategic plans that prioritize short and long term measures of achieving intended…
By George Otieno Cooperative Commissioner David Obonyo has called for a paradigm shift on how Saccos conduct their businesses, warning that relying on the check off system is no longer tenable. Most Saccos, Obonyo stated, were employee based Saccos that depended on a check off at the end of the month to give loans that…
By George Otieno Mombasa County Cooperative Director Nelson Nyoro has pointed out that the justification of Saccos’ existence is their ability to satisfy members’ needs. Speaking during Kenya Teachers Sacco Associations (KETSA) conference in Mombasa aimed at discussing the sustainability of Saccos and the Sacco sub sector, Nyoro stressed that the sustainability of the association rested…
By George Otieno Kilifi County Deputy Governor Flora Mbetsa Chibule has stressed on the need to support cooperatives as key enablers of Kenya’s improved social and economic growths. Cooperatives, she said, cut across all the sectors of the economy namely agriculture, mining, housing, transport, and manufacturing. In addition, they are known worldwide as instruments of…
By Tsozungu Kombe Kenya Teachers Sacco Association (KETSA) is set to change name to become a Federation after a pending Bill in Parliament has been approved. Speaking during KETSA Annual Delegates Meeting (ADM) held at Flamingo Beach Resort in Mombasa County recently, KETSA national chairman Robert Njue said that a pending bill is awaiting approval in parliament…
By Benedict Ng’etich Imarisha Sacco has launched new tailor-made products to help new members achieve their financial dreams. Sacco Chairman Mathew Ruto noted that the products include the take off loan which caters for newly employed people and does not require one to have deposits. The repayment period is 84 months and the applicant should…
