By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are facing the biggest stability test because of hardship caused by the Covid-19 pandemic. A new Central Bank of Kenya report that sheds light on the health of multiple sectors of economy shows that non-performing loans (NPLs) ratio for deposit-taking (DT) Saccos jumped to 9.12 percent…

By Roy Hezron Joseph ‘Joe’ Nyagah, a former minister and presidential candidate left behind a remarkable history of championing the co-operative movement before his demise on 11th December 2020 at Nairobi hospital. Nyagah, alumnae of Alliance High School and the University of Nairobi, was appointed the Minister for Co-operative Development during the Grand-Coalition Government formed…

Press Release  On 4th November 2020, Metrotrans Sacco, one of the leading PSV transport Saccos operating in Nairobi received 45 new buses at Isuzu East Africa with financing from Co-op Bank in form of a lease worth Kes 225 Million. The lease will enable the Sacco to respond to increased demand in their existing routes,…

By Roy Hezron Tower Sacco Board’s Vice-Chair Mr. Benson Chege Ruhang’a has passed on. It is reported that Mr. Chege passed on while undergoing treatment at Nakuru War Memorial Hospital. Until his death on 1st November 2020, Chege doubled up as Vice-Chair and head teacher at Gituru Primary School in Naivasha. With 42 years of…

By Staff Reporter Hazina Sacco Board’s Vice Chair Macdonald George Obudho has been appointed new Director General Kenya National Bureau of Statistics (KNBS). Macdonald George Obudho who takes over from Zachary Mwangi is set to lead KNBS for a period of 8 years. Obudho joined KNBS in 1995 and rose through the ranks from Statistician…

By Staff Reporter Operations at the Cooperative Tribunal Registry in Nairobi have been suspended for seven days after one of the staff tested positive for the Covid-19. In a memo dated 1st November 2020 and signed by the Chairperson of the tribunal Hon. Beatrice Kimemia to the public and advocates, the operations in the registry…

By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) have started issuing dividend advances to their members amid Covid-19 disruption that has resulted in a cash crunch for families and businesses.  The payouts come with three months left before the end of financial year and are expected to offer the much-needed liquidity boost to Sacco…

By Roy Hezron The 33rd World Cooperative Congress Day celebrations, which were to be held next month in South Korea, have been postponed due to the Covid-19 pandemic. The congress, which brings together all co-operative movements affiliated to the InternationalCooperative Alliance(ICA), has been re-scheduled to December next year. Seoul will still host the celebrations. The…

By Simon Njane Savings and Credit Cooperative Societies (Saccos) leaders are expressing mixed reactions to the regulator’s call for mergers as deposits get skewed towards large entities. While leaders of various Saccos support the proposal by the Sacco Societies Regulatory Authority (Sasra) that Saccos should consider merging to avoid collapsing, they are calling for caution….