Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Azael Masese The Government will soon dissolve more than 5,000 dormant co-operative societies as it seeks to tighten the loose ends in the otherwise vibrant sub-sector. Senior Deputy Commissioner in the State Department for Cooperatives Geoffrey Njang’ombe said that though there are more than 20,000 societies less than a half are active. “We want…
By Stephen Makabila A new Co-operative policy is finally set to be forwarded to the Cabinet for approval after over one year of waiting. According to the State Department of Co-operatives, the policy in its final draft form will be forwarded to the Cabinet once it is inaugurated by President Uhuru Kenyatta. Cabinet Secretaries are…
By Staff Reporter Two Saccos, which cannot be named for legal reasons, will soon be dissolved for non-compliance, State Department for Co-operatives has indicated. Senior Deputy Commissioner Geoffrey Njang’ombe said they are about to revoke their licenses which will lead to their dissolution. The move comes at a time when the Government is set to…
By Azael Masese The Government will put brakes on expansion of Savings and Credit Co-operatives (Saccos) to ensure there is regulated growth and financial stability in the sub-sector. Senior Deputy Commissioner in the State Department of Co-operatives Geoffrey Njang’ombe said loan repayment is posing a serious challenge hence the need to take the necessary steps….
By Staff Reporter Total assets held by Kenya Bankers Sacco increased from Sh6.3 billion in 2015 to Sh6.7 billion at the close of financial year ended 31st December, 2016. According to the Sacco Society Regulatory Authority (SASRA) Supervision Report, 2016, the sacco ranks 13th among largest deposit-taking sacco across the country in balance sheet size….
By Alfred Kimosop Top Sacco Societies in Baringo , Boresha Sacco and Skyline have been hailed for embracing the spirit of co-operative movement in the county. Speaking during Tugen Hills Farmers Field Day held recently at Katimok, Baringo North, Chairman, Eric Bargorett said the two saccos have supported farmers with loans. He said continued support…
By Benedicto Ng’etich The Chairman of Simba Chai Savings Co-operative Society Engineer Joseph Mitei has complained of the high rate of taxation directed at co-operative societies in the country. He said co-operatives should come together and lobby legislators to formulate laws which are friendly to saccos. “We want people elected into various political offices to…
By Azael Masese Kisii County Co-operative Commissioner will assist the operations of farmers’ unions affiliated to the growing of pyrethrum if the production of the crop is improved. Co-operative Commissioner Victor Kenyariri promised that once the Agriculture Ministry spearheads improved yield, they will work out on the marketing strategies to ensure a better return from…
By Erick Nyayiera Politicians in Nyanza and Western regions have been criticized for not putting enough efforts to empower the local people through formation of Saccos. Atyang Atyang a renowned activist who is also the secretary general of Gakwamba Farmers Co-operative society observed that unlike in Kisii and Nyamira Counties where the political leadership have…
By Our Reporter Busia Government seeks to have have all Boda Boda riders registered under saccos to enable them improve on their livelihood through the Co-operative Fund. Governor Sospeter Ojaamong said capacity to form a Sacco would assist them get loans to invest in profitable activities. Speaking to Sacco Review newspaper at the County headquarters,…
