Sacco Review - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

CAK reassures public over false infrastructure funding reports

Sacco ReviewJuly 10, 202604 mins

CAK dismisses claims that the government plans to use Sacco savings to fund infrastructure projects. Cooperative apex body says the proposed Sacco law contains no provisions allowing members’ funds to be diverted to the National Infrastructure Fund. The Cooperative Alliance of Kenya (CAK) has refuted claims that the government plans to raid Sacco funds to…

President Ruto announces 60,000 jobs as Lamu oil refinery project takes off

Sacco ReviewJuly 10, 2026July 11, 202605 mins

Ruto confirms Lamu oil refinery project expected to create about 60,000 youth jobs. Government to use Ksh350 billion National Infrastructure Fund to finance major infrastructure projects. President William Ruto has announced thousands of new job opportunities for young Kenyans following the confirmation that a monumental oil refinery will be constructed in Lamu. Speaking on Friday,…

Key sectors push revenue to Sh2.8 trillion as KRA records strongest growth in recent years

Sacco ReviewJuly 10, 2026July 11, 2026016 mins

KRA posts strong revenue growth: The Kenya Revenue Authority collected KSh2.844 trillion in FY 2025/2026, a 10.6 percent increase from the previous year, with manufacturing, energy, finance, ICT, and wholesale and retail sectors driving 62 percent of total revenue. Customs exceed target: Customs revenue grew 12.4 percent to KSh988.8 billion, surpassing its target, while exchequer…

KIE, Kiambu County signs MoU to boost MSME growth and industrialization

Sacco ReviewJuly 10, 2026July 10, 202604 mins

KIE and Kiambu County signed an MoU to promote industrialization and support the growth of Micro, Small and Medium Enterprises (MSMEs). The partnership aims to boost enterprise development, improve access to business support and create more economic opportunities for entrepreneurs in Kiambu. Kenya Industrial Estates (KIE) has signed a Memorandum of Understanding (MoU) with the…

Meru community urged to support Kithoka airstrip project amid legal battles

Sacco ReviewJuly 10, 202606 mins

Leaders back Kithoka airstrip, saying it will boost tourism, create jobs and strengthen forest conservation. Environmental groups oppose the project, arguing it threatens the Mt. Kenya Forest ecosystem and are challenging it in court. The Meru community has been urged to support the construction of the Kithoka airstrip, a project proponents claim will spur economic…

Government flags online misinformation over Sacco Societies Bill

Sacco ReviewJuly 10, 202604 mins

The government has cautioned the public against misinformation and propaganda circulating online regarding the Sacco Societies (Amendment) Bill, 2025. The government has cautioned the public against misinformation and propaganda circulating online regarding the Sacco Societies (Amendment) Bill, 2025. In a public notice seen by Sacco Review, the state dismissed claims that the proposed legislation is…

Government sets up taskforce to draft regulations for upcoming Cooperative Act

Sacco ReviewJuly 10, 202603 mins

Cooperatives Principal Secretary Patrick Kilemi has announced that the State Department has constituted a taskforce to spearhead the development of regulations that will operationalise the proposed Cooperative Bill once it is enacted into law. The move comes as the Bill enters the final stages of consideration in Parliament. In a statement shared on his Facebook…

Saccos warned against chasing dividends at expense of cheap loans

Sacco ReviewJuly 10, 202608 mins

Managements of Savings and Credit Cooperative Societies (SACCOS) have been warned against an over-obsession with huge end-of-year dividends at the expense of their core mandate of issuing low-interest loans to members. Symon Mburia, the Assistant Commissioner for Cooperatives Development, director at the Hustler Fund, and a leading authority in the cooperative movement, challenged Saccos to…

Saccos are financial shock absorbers, says Stima Sacco CEO

Sacco ReviewJuly 9, 202604 mins

Stima DT Sacco Chief Executive Officer Dr. Gamaliel Hassan has highlighted the vital role Savings and Credit Cooperative Societies (SACCOs) play in shielding members from economic shocks amid rising living costs. Speaking during an interview with Radio Generation on Thursday, July 9, Dr. Hassan said persistent inflation, both locally and globally, has significantly reduced people’s…

Kenyans receiving services at the Kenya Revenue Authority headquarters. PHOTO/KRA

KRA retains 8 per cent rate across fringe benefit, deemed and low-interest taxes

Sacco ReviewJuly 9, 202605 mins

The Kenya Revenue Authority (KRA) has retained the prescribed interest rate at 8 per cent across three separate tax categories; the Fringe Benefit Tax, deemed interest and low interest benefit. In a public notice issued on July 8, 2026, the tax man said that the three categories will run on different timelines through the rest…