Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Bernard Matumbai Co-operative Bank of Kenya’s net income jumped by 53 percent to a record Sh16.5 billion in the year ended December 2021 from Sh10.8 billion in the previous term, something that was attributable to higher interest income, investment in government and reduced expenses. The bank recorded a 59 percent surge in pre-tax profit…
By Roy Hezron Co-operative leaders countrywide will be meeting at Amboseli National Park’s Oltukai Lodge for a four day meeting to review and discuss the implementation of regulations for the National Co-operative Bill 2021 in an occasion that will be graced by the Cabinet Secretary for Agriculture, livestock, Fisheries and Co-operatives Hon. Peter Munya. The…
By John Majau Agriculture Cabinet Secretary Peter Munya has launched a New KCC factory at Kangeta in Igembe Central constituency of Meru County. Munya, accompanied by New KCC Director David Baariu, said the launch was in line with the national government’s role of empowering dairy farmers. The launch of the plant with a capacity to…
By Enock Kipturgut The County Government of Baringo has launched incubators and backup generators worth Shs 3 million to benefit nine co-operative societies drawn from Kabarnet Ward. The move is aimed at enhancing poultry production. One incubator accommodates 1056 eggs per hatchery. The benefitting cooperative societies include Soramoi, Kimoso, Seguton, Kiboino, Kapchepterit, Kokwomoi, Kaperterot, Jekame…
In his lifetime, Symon Mburia has taken a leading role in transforming the co-operative movement in the country. He has taken part in drafting and formulating major polices governing the co-operative movement, and also ensuring that the co-operative movement is managed professionally through his leadership in the newly formed Kenya Society of Professional Co-operators (KSPC)…
By Roy Hezron Landlords and agents who evict or subject tenants to any form of harassment to compel them to vacate due to rent arrears or pay higher rent risk being jailed for six months or a fine not exceeding two months’ rent of the premises if a new bill will fully be enacted into…
By Roy Hezron Disputes in co-operative sector will now be handled by the Co-operative Court which will stand on its own aside from the existing Co-operative Tribunal, if the draft bill will be enacted into law. The Draft Co-operative Bill, 2021 which if enacted into law will repeal the long-term Co-operative Societies Act which was…
By Tsozungu Kombe The Kenya National Chamber of Commerce and Industry (KNCCI) has issued out loans worth Shs 10 million to 137 traders from Kilifi county to enable the traders to boost their undertakings. Speaking to Sacco Review in Malindi town recently, KNCCI chief executive officer Mr Ahmed Abdalla said the traders will pay the…
By Boniface Mulu Kitui Teachers Savings and Credit Cooperative Society Limited chairman Reverend Augustus Munuve has revealed that the Sacco’s education and training programmes are meant to enable the Sacco to fulfill its statutory obligations. Speaking during this year’s Annual Member Education Day organized by the society at Ithookwe primary school in Kitui Central District,…
By Roy Hezron The Sacco Societies Regulatory Authority (SASRA) has set up the Sacco Societies Fraud Investigation Unit (SSFIU) through a recent Memorandum of Understanding (MOU) which was signed with the Directorate of Criminal Investigations (DCI) to formalize its establishment. According to the Authority’s Chairperson Mr. John Munuve, the establishment and operationalization of the Unit…
