Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Sacco paid dividends at 4% this year while interest on deposits at 5.5% this year. By Jackson Okoth A change in its executive suite, which saw the recruitment of a new Chief Executive Officer as well as Head of Finance, Investment and Strategy, combined with surgical spending cuts, is finally paying off for the giant…
By Rosemil Oduor President Uhuru Kenyatta is set to launch a Sh110 million banana processing and value addition plant in Taita Taveta. The plant is to be constructed with a grant from the European Union. Taita Taveta Banana Farmers’ Co-operative Society (TATABA) chair Constantine Malai asked farmers to embrace banana planting so as to enjoy…
By Jackson Okoth The curtain has already come down on the Annual Delegates or General Meetings by members of Deposit-Taking Saccos, this publication provides you with a list of some of the most rewarding financial societies in terms of what they paid members as Dividends on Share Capital as well as rebates or Interest on…
By Staff Writer Poultry farmers in Kiambu County have registered a co-operative society so as to fetch better prices for their produce and fight imports. The society is expected to provide breeders with affordable credit to increase production and quality. According to Zachary Munyambu, County Co-operative Society coordinator, 404 farmers from Kiambu have already registered…
By Jackson Okoth The theme of this year’s International co-operatives day, to be held on the first Saturday of July, is ‘Co-ops 4 Decent Work’. Participating co-op societies will be awarded based on their functions (Saccos, Housing and Investment Co-ops, Marketing Societies), sector (employer, agriculture or community- based) and also based on the size of…
Tangazoletu 2.0 Limited, one of the leading service IT service provider in the country, has organised an innovations workshop for Saccos in Nyeri county on May 10th, 2019 The workshop to be held at Nyeri’s Green Hills hotel, has the objective of bringing together to discuss trending innovations and adoptions, security and benefits to business…
By Jackson Okoth Westlands Sub-County in Nairobi has the highest Sacco saver in Kenya with Sh 94 million worth of deposits.The Director of Co-operatives, Nairobi County Dolphine Aremo revealed this during Safaricom Sacco Annual General Meeting (AGM) held recently at Desmond Tutu Hall, Nairobi. She also disclosed that Nairobi County leads in the country with…
By Jackson Okoth It appears that the road for corrupt Sacco officials, who have the habit of dipping their hands into the cookie jar, is nearing a dead end. This is if the Ethics and Anti-Corruption Commission (EACC) makes true its threat to assist the State Department for Co-operatives to conduct a lifestyle audit of…
By Munene Maina Dimkes Sacco posted a strong financial performance for the fiscal year ending 31st December 2018 registering an asset base growth rate of 5.4 per cent to reach Sh1.59 billion. The Sacco, which had positive outcomes in all growth parameters, also recorded increase in members’ deposit to reach Sh1.35 billion in 2018 from…
Defaulters to lose property in stringent loan recovery measures By Jackson Okoth Deposit-Taking Saccos have warned members of stringent loan recovery measures that include use of debt collectors and Credit Reference Bureaus to lock out loan defaulters from accessing Sacco products. The rate of non-performing loans has been on the rise in the Sacco sub-sector….
