Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Azael Masese A new Sacco Supervision Report, 2021 indicates that the Sacco sub-sector’s total assets grew by 9.93 per cent in 2021 to reach Ksh807.11 billion from Ksh734.22 billion recorded in 2020. During the period under review, total deposits grew by 9.80 per cent in 2021 to reach Ksh564.89 billion compared to Ksh514.46 billion…
By Paul Ngugi Ruo Cooperation means living, thinking and working together. It is therefore important to uphold the socialist theme for effective running of cooperatives. Co-operation is based on the principal of self-help through mutual help, service above self and abolition of profits. Therefore, cooperative management is unique in its own way despite the fact…
By John Majau The County Government of Meru has moved to scale up banana crop production and trade in a bid to boost profits for farmers in the county. According to the county Agriculture CEC Mrs. Carol Mutiga, efforts to boost banana production in the region are in top gear, including the construction of a…
By Tsozungu Kombe Imarika Foundation, a brainchild of Imarika Sacco Ltd has received Shs 12 million from Imarika Sacco, its main sponsor, to support its five pillar programmes. Speaking during Imarika Foundation Annual General Meeting (AGM) held at Imarika Plaza Conference Hall in Kilifi town, Imarika Foundation Executive Director Mr. Peter Angore said the foundation…
By Felix Wanderi Githunguri Dairy Cooperative (GDC) Sacco has launched a new branch in Ruiru, Kiambu County. The move has seen a rise in the Sacco’s branches to seven. Speaking during the Sacco’s 19th Annual General Meeting held at Elysian hotel along Kiambu Road, the Sacco’s Chairman Joseph Mburu revealed that the society had also completed…
By Talarus Chesang Baringo coffee farmers now can smile all the way to the bank to earn a whopping Sh.28 million after exporting their first consignment of coffee to Korea. More than 200 farmers drawn from 27 groups converged at the Katimok Coffee Factory in Baringo North to receive their dues recently. “Since I started…
By Tsozungu Kombe Herman Mwashighadi Mwachia can truly attest to how Saccos are beneficial to its members. Mwachia, who is a member of Qwetu Sacco says that the Sacco changed his life for the better. The retired primary school teacher acquired a loan of Shs 2.5 million from Qwetu Sacco which he used to build…
By Fred Sitati One basic characteristic that distinguishes companies from cooperatives is that companies are associations of capital while cooperatives are associations of persons. Additionally, while companies strive to maximize profits for their shareholders, the same cannot be said of primary cooperatives that are voluntary self-help organizations that aim to solve members’ socio-economic and cultural…
By George Otieno State Department for Cooperatives Development PS Ali Noor Ismail has called upon Sacco leaders to unite in addressing challenges facing them. While addressing Sacco Board of Directors, CEOs and their deputies and other stakeholders at Pride Inn in Mombasa, the PS said the sector was stronger and only functional if players came…
By Fredrick Odiero Cooperative Alliance of Kenya (CAK) Executive Director Daniel Marube has called on Kenyans to cultivate a saving culture by joining Saccos. Marube urged young people to invest in Saccos since there is life after retirement. He posited that the cooperative movement is a key contributor to Kenya’s economic growth. “The cooperative movement contributes…
