Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Our ReporterMembers of B -Smart Sacco Limited are demanding to be refunded their savings after the Saccoreportedly failed to issue them with loans and blocking them from withdrawing their savings.The shareholders said the Sacco has not been giving them loans for two years now and hasdeclined to give them back their savings.The members who…
By Peter Otuoro Tower Sacco members has elected Patrick Thogo as their new director in a competitive election which was held at Olkalou Primary School in Nyandarua County. Thogo got 222 votes against his close competitor former director James Mwangi get 219 votes. The new director promised to initiate a mass recruitment of new members…
By Roy HezronVihiga County Government has committed to support Savings and Credit Co-operatives (Saccos) throughestablishment of a revolving fund.Speaking during a stakeholders meeting to discuss the performance of the Vihiga County Traders Saccoin December 2022, the County Governor Dr. Wilber Ottichilo hinted that the Sacco, which mainly drawsits membership from micro and small traders, would…
By George Otieno All Cooperatives will in future become federations and subscribe to an apex body, group managing director of the Kenya Union of Savings and Credit Cooperatives (KUSCCO) George Ototo has hinted. A restructured Cooperative sector will ensure sustainability and viability as it will solely depend on the subscription of the cooperative members. Ototo…
By Agnes Orang’o Komarock Housing Cooperative Society members have been urged to avoid unnecessary land sales and instead invest on the lands to secure their future. Speaking to members during one of the society’s meetings, the society’s chairman Bernard Maembe expressed concern over the increased land sales. “Most of you inherited your land from your…
By Roy Hezron A total of Ksh428.4 million will be injected into the country’s coffee cooperatives towards strengthening governance and capacity in the next four years as part of the National Coffee Revitalization Project (NCRP). The entire project, however, will approximately cost the government a total of Ksh21.3 billion for the four year period earmarked…
By Azael Masese Cooperatives and Micro, Small and Medium Enterprises (MSMEs) Cabinet Secretary Simon Chelugui has underscored the role of New Kenya Cooperative Creameries(New KCC) in supporting Kenya’s cooperative movement. Speaking during a recent visit and tour of the processor’s Dandora plant, Chelugui disclosed that since 2016, the government had pumped Ksh 2 billion into…
By Peter Otuoro When dairy farmers in Elburgon Ward of Molo Sub- County came together with an idea of collecting milk daily as a group, little did they know that it would one day give birth to a colossal Society with a formal functional structure. It all started in 2009 as a self-help group with…
By Kamau Njoroge Members of Anchor Premier Sacco, formerly Urithi Premier Sacco, can now heave a sigh of relief after the new management rolled out plans to recover their properties that are still held up by Urithi Housing Co-operative Society Limited. The Sacco, which has been associated to Urithi, rebranded three years ago by dropping…
By Roy Hezron Professionals in the Cooperative sector have called upon the government to regulate dividend payment, especially in the Savings and Credit Co-operatives (Sacco) sub-sector, to separate success from dividends. Through the Kenya Society of Professional Co-operators (KSPC), the sector elites felt that the success of cooperatives should not be measured by the rate…
