Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Malachi Motano Kumisa Savings and Credit Cooperative (Sacco) members have appealed to the Directorate of Criminal Investigations (DCI) and the Commissioner for Cooperatives to help them recover their savings The Sacco based at Kirigiti in Kiambu town, also referred to as ‘Hustlers Sacco” is a Sh10 savings society which has collapsed with millions of…
By Washingtone Okellah Busia Governor Sospeter Ojasmong was the top depositor in Busia County Assembly Savings and Credit Co-operative Society (Sacco) in the 2019-2020 financial year. Despite challenges occasioned by the Coronavirus pandemic, the Sacco declared cash dividends of Sh500,000 that was shared by its 309 members. SACCO chairman Gabriel Erambo released the results whle…
By Asa Maina Four-year-old Nyeri South Traders Sacco paid a dividend of 10% in 2020, an increase from eight percent in 2019. The Sacco chairman Joseph Wanjohi said it had also paid out a dividend of 10% in 2017 and but the payout declined to 4% in 2018. Speaking during its fourth Annual General Meeting…
By Kamundia Muriithi The government plans to modernize coffee factories and implement the use of technology trading. Apart from the use of ICT in all operations, they will also roll out soil testing in coffee growing zones in a bid to revive the sub-sector. Agriculture CS Peter Munya has said they have set aside Sh7…
By Cally Imbayi Governor Wycliffe Oparanya says Kakamega County will spent Sh25 million to strengthen cooperative societies that have been performing poorly. He revealed that they have prioritized streamlining of the cooperatives movement in the county to improve living standards. “We have allocated Sh25million for development of the cooperatives sector out of which Sh18million will…
By Aggrey Buchunju Relisa Sacco finally conducted Bungoma branch elections which had been postponed for one year due to the Covid-19 pandemic. Messrs Phillip Amwayi and Ben Watitwa were elected unopposed to serve as delegates during the elections held at Bungoma Railway station grounds. The peaceful elections were presided over by Madisa Barasa from the…
By Malachi Motano Agricultural Finance Cooperation (AFC) is calling upon farmers in the vast Bungoma County to approach it for loans to enable them expand their farming activities. According to AFC Country Director George Kubai , AFC is focusing on improving livelihood of farmers by giving them loans saying they should not shy away. The…
By Tsozungu Kombe Twenty five women and youth groups in Mvita constituency have received loans from Uwezo Fund amounting to Sh36.6 million to boost their businesses. Mvita MP Abdulswamad Shariff Nassir said they have been given the money as a revolving fund to enable them improve their small scale businesses and repay later. He added…
By Malachi Motano The latest report by the Saccos Regulatory Authority (Sasra) indicates that women have been locked out of Sacco management in Kenya. According to the report, men dominated all other key positions including vice chairpersons, secretary and treasurer in the Saccos that handle deposits amounting to Sh380.4 billion and Sh 419.55 billion in…
By Malachi Motano Spire Bank, wholly owned by Mwalimu National Sacco, now faces a crucial quest for new capital because its losses have seen it breach all the minimum capital adequacy ratios by large margins. The bank continues to make bigger losses, that swept away its capital in the 2020 financial, leaving it with a…
