Sacco Review - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Long-serving Family Bank Board Chairman Wilfred Kiboro retires, architect takes helm

Sacco ReviewMay 24, 202402 mins

Family Bank Board of Directors has appointed Architect Francis Gitau Mungai as the new Chairman of the board, replacing long-serving Chairman Dr Wilfred Kiboro. Francis Mungai holds a Bachelor of Architecture degree with First-Class Honours from the University of Nairobi and a Master’s Degree in Architecture from the University of California, Los Angeles (UCLA). READ…

Mi Vida Homes partners with Misitu Sacco to foster growth

Sacco ReviewMay 24, 202403 mins

Mi Vida Homes, a reputable property developer signed a partnership with Kimisitu Sacco and has allowed the members to invest in its residential projects in Garden City, Nairobi. The Garden City Project sits on a 47-acre land with a mixed-use urban development comprising residential units commercial spaces, offices, retail outlets, and recreational amenities. It offers…

NSSF Sacco launches 2024-2028 Strategic Plan, new logo

Sacco ReviewMay 24, 2024May 24, 202404 mins

Simon Chelugui Cabinet Secretary, Ministry of Co-operatives Micro, Small and Medium Enterprises Development (MSMEs) was the chief guest today during the launch of NSSF Sacco Strategic Plan (2024-2028) and New Logo at the Radisson Blu Hotel, Nairobi. The launch is aimed at promoting innovative, commercially oriented and efficient financial services is engraved at NSSF Sacco…

I&M Bank records KSh3.3 billion profit in first quarter

Sacco ReviewMay 24, 202404 mins

I&M Group’s first quarter report of this year shows that the bank has a profit of KSh3.32 billion, an increase of 31 per cent from the KSh2.5 billion recorded last year. Interest income, which grew by 38 per cent to KSh8.8 billion, greatly influenced the profit growth. The growth in net interest income offset a 9.4…

Kenya Power makes profit of KSh2 for every KSh100 you pay

Sacco ReviewMay 24, 202403 mins

According to Joseph Siror, the managing Director of the Kenya Power and Lighting Company (KPLC), for every KSh100 paid by customers, KPLC receives only KSh2 or less as profit. He also stated that most of the money goes to the generation of electricity. “For every KSh100 that you pay in the bill, 65 per cent…

Cooperatives in Nakuru to benefit from KCB Chama APP

Sacco ReviewMay 24, 2024May 24, 202402 mins

Kenya Commercial Bank (KCB) Nakuru Branch has developed KCB Chama App that aims to assist cooperatives and Chamas on handling finances, taking loans or saving towards an a goal. KCB Nakuru Branch Manager Christine Keter while speaking in Nakuru on Thursday, May 23, 2024 where she led a team from the lender in a meeting…

Safaricom Investment Co-op launches 158th land project in Eldoret

Sacco ReviewMay 23, 202405 mins

Safaricom Investment Co-operative, in a move to expand its footprints across the country, has launched its 158th land project in Eldoret project. The 30- acre project dubbed ‘Adelaide Creek’ consists of quarter-acre projects priced at KSh2.5 million with amenities such as graded murram roads, a chain-like fence, and readily available electricity and water connections. SIC,…

Asman Mugambi appointed new CEO Jubilee Life Insurance

Sacco ReviewMay 23, 202402 mins

Asman Mugambi Ibrahim has been appointed as the new Chief Executive Officer Jubilee Life Insurance. In a statement, Chairman and Board of Directors in a said that Asman possesses over 20 years of extensive industry experience. Asman holds a Bachelor of Science (First-Class Honours) in Actuarial Science from the University of Nairobi. He has worked…

Nyanza governors distance themselves from upcoming investment conference

Sacco ReviewMay 23, 2024May 23, 202405 mins

Six governors from the Nyanza region have distanced themselves from a scheduled Nyanza International Investment Conference, expected to take place next month. The Governors’ namely Anyang Nyong’o of Kisumu, James Orengo (Siaya), Amos Nyaribo (Nyamira), Simba Arati (Kisii), Gladys Wanga (Homa Bay) and Ochilo Ayacko of Migori all said they have been sidelined in the…

Airbnb operators in Western Kenya put on notice

Sacco ReviewMay 23, 202407 mins

More than 70 per cent Airbnb operators in Western Kenya tourism circuit are not paying the 2 per cent tourism levy as the law stipulates. Tourism Act, requires various entities offering accommodation services to remit levies based on income generated every month. The levy payable is two per cent of income generated per month for accommodation, and…