Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
By Our Correspondent The recent resolution by the giant Mwalimu National Sacco Annual General Meeting to put up for sale the troubled Spire Bank has elicited mixed reactions, with critics offering options they argue would be in the best interest of teachers and ordinary members. In the asset purchase agreement pending regulatory approvals by…
By Norah Musega museganorah@gmail.com 500 Boda-boda operators have so far been registered in the ongoing countrywide registration as was directed by President Uhuru Kenyatta. The campaigned is aimed at sanitizing the sector after rogue operators brought mayhem to the roads. The Presidents directive came shortly after an alleged barbaric attack on a female motorist by…
Fredrick Odiero Over 190 former members of Kisumu Municipality teachers SACCO (KIMUTE) which went under more than seven years ago now have a reason to smile after being assured of their cash reimbursements totaling to Sh50 million. Kenya National Union of Teachers (KNUT) Kisumu branch broke the news of the new development while led by…
