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

Stanbic Holdings boosts dividend after KSh12 billion profit

Sacco ReviewMarch 8, 2024March 8, 202402 mins

Stanbic Holdings reported a KSh12.16 billion profit for 2023, allowing the lender to increase dividend to members. Annual profit was up 34 per cent from the previous year’s record of KSh9.06 billion after the net profit hit the highest in company’s history. READ ALSO: KenGen profit falls 9.2 per cent on weak shilling Therefore, Stanbic…

Linturi tours Taita Taveta with bag of goodies for farmers

Sacco ReviewMarch 6, 2024March 6, 202405 mins

By Michael Oduor/ oduormichael2021@gmail.com Taita Taveta County has received a mobile grain dryer from the National Government in an effort to assist farmers in mitigating post-harvest losses. Agriculture and Livestock Development Cabinet Secretary (CS) Mithika Linturi while launching the dryers said the equipment comes in handy to ensure efficiency in drying grains. This will result…

A tribute to the fallen hero in cooperative movement

Sacco ReviewMarch 5, 2024March 6, 202406 mins

The curtain has fallen on the man, Murungi Kibanga Manyara, who bestrode the country’s cooperative movement landscape like a colossus for close to half a century! The cruel hand of death has indeed robbed the country of its icon on matters cooperative law. The late Kibanga, who breathed his last on March 1, 2024, after…

Joy as land buyers in Thika receive title deeds after years of wait

Sacco ReviewMarch 5, 2024March 5, 202404 mins

Investors who bought land through a Thika based land firm, the Lesedi Developers Limited, have a reason to smile after the firm began issuing them with title deeds after years of wait. Following many days of court battles between the firm and investors over the former’s failure to issue them title deeds and alleged multiple…

Mbarire promises to help Embu bodaboda riders form Sacco

Sacco ReviewMarch 5, 2024March 5, 202405 mins

Thousands of boda boda operators in Embu County will be supported to launch a Sacco to enable them save and access loans and motor cycles, Governor Cecily Mbarire has announced. Governor Mbarire said once founded the Sacco would ensure that the boda boda operators are not subjected to exploitation by shylocks who charge unwarranted interests…

Kenya to host African cooperatives congress

Sacco ReviewMarch 4, 2024March 5, 202403 mins

Savings and Credit Cooperative Annual (SACCA) Congress will be held in Kenya later this year. Plans to host the 2024 SACCA Congress in the country have started in earnest with the constitution of a high-level working group. The Congress will go along the same lines as the previous Continental Congresses that made important contributions towards…

Mwalimu Sacco member wins KSh3.2 million house in promo

Sacco ReviewMarch 2, 2024March 3, 202402 mins

Tom Charigah emerged the winner of a three-bedroom house worth KSh3.2 million in a savings promotion scheme organized by Mwalimu National Sacco. READ ALSO: Kajiado women to receive interest-free loans if law is passed Charigah who been a member of the Mwalimu Sacco for over 40 years, was given the house situated at Kisaju area…

Smiles for savers as Saccos pay high dividends

Sacco ReviewMarch 2, 202403 mins

Top Saccos in the country are paying members at least four per cent more in dividends for their 2023 savings compared to a year earlier. Most cooperatives attributed the performance to muscular growth in its net interest income, enhanced member deposits and increased membership. Safaricom Investment Corporative (SIC) members will take home KSh142.4 million in…

Ufundi Cooperative sacco announces sale of tower to clear debt

Sacco ReviewMarch 2, 202403 mins

Ufundi Savings and Credit Co-operative Society Limited has announced the sale of it’s 14-storeyed building, Ufundi Co-op Plaza, at the junction of Moi Avenue and Moktar Daddah Street. In a local daily newspaper notice dated February 29, 2024, the Sacco has invited bidders for the iconic building Nairobi Central Business District that will be sold…

Kilifi based Imarika Sacco reports full-year 2023 results

Sacco ReviewMarch 2, 202402 mins

Kiliifi based Imarika Sacco recorded a net profit of KSh323.8 million for the year ending December 31, 2023. A year earlier it posted a net profit of KSh397 million. Total assets for the Sacco rose from KSh13 billion as compared to KSh11 billion in 2022. READ ALSO: Imarika Sacco gets a new chairman In itd…