Sacco Review

CPA Bernard Koech, Chairman, the Sacco Board of Directors.

United Nations Sacco posts KSh2.2 billion income in 2023 enhanced by affordable loans

United Nations Sacco posted remarkable financial results in 2023 with the firm’s total revenue increasing by 13 per cent, hitting a record KSh2.197 billion. This was achieved as a result of increase in interest on loans and advances, reduced expenditure and investment income. A total of KSh1.3 billion was given to members in the form…

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Cooperatives PS Patrick Kilemi leads tree planting in Murang'a County.

Cooperatives PS leads Saccos in planting 15,000 trees in Murang’a

Today, cooperatives stakeholders planted 15,000 trees at Kimakia Forest in Muranga County in line with the accelerated 6-month tree growing programme in the Country. Principal Secretary, State Department of Co-operatives, Ministry of Co-operatives and Micro, Small and Medium Enterprises Development Patrick Kilemi led the planting where more than 10,000 indigenous and 4,000 bamboo seedlings were…

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Kisumu County Governor Anyang' Nyong'o speaks during the unveiling of the Anderson Affordable Housing Project in Kisumu, today. Photo/Fredrick Odiero

Kisumu to kick-start KSh5 billion affordable housing project

The Anderson Affordable Housing Project in Kisumu County is now set to kick off in earnest after LAPTRUST and the County Pension Fund (CPF) in collaboration with the county government broke ground. The landmark event will see the construction of over 1,200 decent and affordable housing units. It is designed in line with both the…

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Jubilee Holdings Group CEO Julius Kipngetich with Vice Chairman Zul Abdul, Chairman Nizar Juma and Group Chief Operating Officer Juan Cazcarra. Photo:courtesy

Jubilee insurance to make record KSh1 billion dividend payout

Jubilee Holdings will pay a total dividend payout of KSh1.04 billion for the full year ended December 2023 despite a decrease in profits compared to 2022. The insurance company recorded a KSh4.4 billion profit last year compared to KSh5.5 billion posted in 2022. In the full year to December 2022, the insurer issued a dividend…

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Absa Bank MD CEO Abdi Mohamed during the Financial Year investor briefing.

Absa Bank records strong first quarter profit growth

Absa Bank Kenya has reported a profit after tax growth of 33.5 per cent up to KSh5.9 billion from KSh4.4 billion posted at a similar period last year. The bank’s diversification strategy, supported by new businesses such as bancassurance, asset management, Timiza, and stock brokerage, seems to be paying off after total revenue rose 19…

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Woccu accepting applications for 2024 scholarship for women, young professionals

Interested credit union women and young professionals have been urged to apply for the second annual fellowship of the World Council of Credit Unions (WOCCU). WOCCU, a union which works to advance financial inclusion through the credit union and cooperative model by engaging in international advocacy, development, education and networking that empowers underserved populations, and…

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Family Bank CEO Nancy Njau at a past event.

Family Bank posts KSh910.5 million profit in first quarter

Family Bank has recorded a 25 per cent growth in net profit to KSh910.5 million. This is a growth from the KSh685.3 million in the first quarter of 2023. It has also reported a profit before tax increase growth of KSh1.3 billion, a growth of 24.3 per cent as compared to the same period last…

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Car & General set to build KSh800 million mall in Shanzu

Car and General, a Nairobi Securities Exchange-listed firm is deepening its foray into the property business with a KSh800 million mall project in Shanzu, Mombasa County. The firm intends to build the mall on four acres, with the construction set to begin next year to be completed by 2026. “We are looking to commence a…

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Agriculture and Food Authority (AFA) Director Samuel Ong’ow. Photo: Fredrick Odiero

State promises to pay KSh7 billion arrears to cane farmers, staff

The government is keen on paying cane farmers and staff of sugar companies who are owed money in terms of unpaid arrears. Agriculture and Food Authority (AFA) Director Samuel Ong’ow said the government has initiated payment of about KSh6.94 billion which is owed to farmers and staff of the sugar companies. Speaking in Muhoroni Ong’ow…

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President William Ruto and Agriculture Cabinet Secretary Mithika Linturi. Photo:courtesy

Meru traders laud President Ruto, CS Linturi for dismissing muguka ban

Meru miraa traders and residents have lauded President William Ruto and Agriculture Cabinet Secretary Mithika Linturi for dismissing and terming muguka ban in Mombasa, Kilifi and Taita Taveta counties as “null and void”. John Ratanya, a miraa trader in Makandara, Meru town, criticised the initial bans, highlighting their detrimental impact on the local economy. “It…

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