Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
CIC Group, a leading cooperatives insurer in Africa, has settled a Sh. 32 million fire insurance claim in favour of Amica Sacco. The claim arose from a fire incident in which a building owned by the Muranga-based Sacco was reduced to ashes in October 2019. Following the claims settlement, the building that also housed Mathai…
By Staff Reporter Co-op Bank is set to pump more resources to the staggering Jamii Bora Bank as soon as it completes purchasing a controlling 90% stake in the small lender at a cost of Sh. 1 billion. While responding to questions raised by the bank’s significant stakeholders Shorecup II, Conerstone, private equity firm catalyst…
By Our Reporter The acting Commissioner for Co-operative Development Geoffrey Njang’ombe is facing a full-in tray for the sector, with little time to settle given the disruption caused to the economy by coronavirus pandemic. Mr Njang’ombe took over from Didacus Ityeng who served briefly in acting capacity following the exit of Mary Mungai in April…
By Tsozungu Kombe Private school-based Savings and Cooperative Societies (Saccos) in Mombasa County have been greatly affected by the Covid-19 pandemic. Mombasa County Cooperative Commissioner Nelson Nyoro attributed this to the closure of schools that took effect when the first case of Corona virus was reported in he country. He added that the situation has…
By Sammy Chivanga Cooperative Societies have been given a special window to start spending part of their unapproved budgets in the wake of the Covid-19 pandemic that has made it impossible to hold annual general meetings. The acting commissioner for Cooperatives Geoffrey Njang’ombe has written to all cooperative societies allowing them to spend up to…
By Boniface Mulu The management of the Kitui based Savings and Credit Cooperative Society Limited has paid a total of 1,480,508 shillings dividends to approximately 500 members online. Normally, the society pays dividends to the members during their annual general meeting (AGM) that is usually held in April yearly but the Sacco could not hold…
By Sammy Chivanga The coronavirus pandemic has reinforced the need for Savings and Credit Co-operative Organisations (Saccos) to diversify membership in order to reduce existential risk. Kenyan economy continues to run into headwinds of Covid-19 since the first case was reported in the country on March 13, triggering job losses and salary cuts whose impact…
By Benedict Ngetich Born and bred in a humble background in Seretet location, Kipsolu in Belgut constituency, Kenya Highlands Chairman, Mr. Richard Mutai has a story to tell. He started off as co-operative officer and rose through the ranks due to his unequaled resilience, patience and hard work to head the premier Sacco. A pillar…
By Felix Wanderi Kiambu County coffee co-operative societies have now come together under one association in a bid to resurrect the sector. The 22 societies came together to form Kiambu County Coffee Farmers Association so as to foyer the government support for coffee production, processing and marketing. Kiambu County Governor James Nyoro said the move…
By Our Reporter Co-operatives societies will have to wait until next year to hold Ushirika Day celebrations as the rising cases of Covid-19 forced organizers to call off the event. The event, part of the United Nations’ (UN) International Day of Co-operatives, was set for July 4, 2020, but the continued state ban on large…
