Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Erick Maranga Ubinifu Credit and Saving Co-operative Society whose majority of shareholders are youths has realized a landmark growth financially after two years since inception. This may serve as a game changer as majority of Kenyan youth perceive Saccos as a reserve for older people as majority of them shun any form of savings…
By Our Reporter Homa Bay County Women Sacco has received financial boost to strengthen its operations. The society received Sh10 million from Women Enterprise Fund (WEF) and two million shillings from the County Government. Homa Bay County Woman Representative Gladys Wanga said the Sacco was established to enable women be economically independent. “The funds will…
By Kamundia Muriithi Residents of Embu County fear losing their money to a savings and credit cooperative organization they had invested in. The society allegedly promised them that they could get loans of up to 10 times their savings and at eight percent interest rate per annum once they joined it. The Sacco started operations…
By John Majau The Meru County Government in partnership with the Co-operative Bank has introduced a new payment model for coffee farmers which is meant to speed up the payment of cherry once it is delivered to the factory. The new format dubbed the “coffee-cash model” will reduce the lengthy waiting periods farmers undergo before…
By Munene Maina Co-operative societies countrywide braved tough economic period to post good returns to members during the financial year 2017. Going by financial reports presented to members and delegates during Annual Meetings, most societies defied odds and pundits extrapolations of negative outcomes, to register impressive performance for the year. Prolonged drought, long electioneering period,…
By Enock Kipturgut Tugen Hills Coffee Farmers Cooperative Society is the winner of the Agriculture and Food Authority (AFA), Coffee Directorate Growers Excellence Recognition Award 2018 Baringo Central Chapter. Addressing coffee farmers drawn from Baringo Central Sub County at Tugen Hills Coffee Factory at Katimok Forest, National Director for Agriculture and Food Authority (AFA) Coffee…
By Azael Masese Suba Teachers Savings and Credit Co-operative Society has rebranded to Fortitude Sacco, in a move aimed at improving its critical market segments. Chief Executive Officer Mr Odhiambo Muganda said opening the common bond followed complaints from the public that the previous operations had locked them from accessing their financial services. “Our key…
By Our Reporter Murang’a Women Sacco expects to generate Sh1 million in rent per month after the completion of a five storey hostel that has cost over Sh100 million. The Sacco which has over 25,000 members started the construction of Muranga University hostels in 2015, two years after it was started. Rose Waithigo, the Sacco…
By James Wakahiu Financial institutions all over the world are crippled by people who secure loan but fail to repay them, Thika West Sub-County Deputy Director of Co-op Development Catherine Mbuki has said. Speaking to members of Urithi Premier Sacco in Thika, Mbuki said defaulters had led to the collapse of many Saccos in the…
By Staff Reporter The Government has officially endorsed the Kenya National Union of Co-operative Staff (KNUCS) and directed all employers under the co-operative sector to co-operate with it. In a letter dated May 4, 2018 addressed to the Co-operative Alliance of Kenya (CAK), the Commissioner of Co-operatives Mary Mungai told employers in the sector that…
