Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
I&M Group bags net profit growth by 12.6 per cent from the financial year ending December 2023 amounting to KSh12.6 billion. The firm attributes the 15 per cent growth in its profits to an increase in its operating income. The Group has also increased dividends for the third straight year to KSh2.55 a share amounting…
Kenya’s KCB Group posted a 15 per cent drop in pretax profit in 2023 to KSh48.5. Therefore, it announced it would not pay a dividend for the period in order to conserve capital. For the first time in 21 years, KCB Group shareholders will miss out on dividends after the bank reported a net profit to…
Kenya’s KCB Group has said it will sell its subsidiary National Bank of Kenya (NBK) to Nigeria’s Access Group. During an investor briefing on Wednesday March 30, the KCB’s Chief Executive Paul Russo, said the deal was struck at 1.25 times book value, but did not give the exact figure. He said, “The right thing to…
Principal Secretary Department for Cooperatives Patrick Kiburi Kilemi has asked Sacco members to always hire competent officials to run the SACCOs. He said incompetent officials are not able to perform leading to poor performance of most firms. Speaking during APSTAR Sacco (former Ukulima Sacco) 46th ADM at Serena Hotels he said the board should also…
Inaugural Kakamega international investment conference (KAIICO) gathered leaders from the National Government, Western Kenya, and Kakamega County respectively to showcase the potential for partnership and collaboration. Addressing the event, President William Ruto emphasised the need to attract both local and foreign investments as one way of transforming the vast potential of counties across all sectors…
Absa Bank reported a net profit of KSh16.4 billion for 2023, up 12 per cent from the previous year thanks to rising revenues as a result of increased funding of core sectors fueling Kenya’s economic growth. READ ALSO: Jubilee Insurance scoops three awards in annual fete The firm’s board announced a 15 per cent increase…
The Senate Standing Committee on Agriculture has assured cane farmers across the country of their commitment to fast-track the passing of Sugar Bill 2022 to resuscitate the ailing industry. The Committee Chairman Senator James Murango said President William Ruto is keen to assent to the Bill noting that the Senate is doing everything within its…
Last year’s best performing insurance companies were awarded in different categories during the Association of Insurance Kenya (AKI) Agents of Year Awards ceremony held recently. Jubilee Insurance was feted in three categories. It scooped the company of year award as well as most improved company of the year and highest growth in number of policies….
StanChart said it will raise its dividend by 31.8 per cent to KSh29 a share compared to 15 per cent representing KSh16 per share it had paid in 2022. In December, the lender had paid a KSh6 a share interim dividend, and now it has increased the final payout to KSh23 per share from KSh16…
Dr Habil Olaka, a towering figure at Kenya Bankers Association for almost two decades, retires as its Chief Executive Officer (CEO) on March 31, the association announced. Olaka has been chief executive of the association since 2010. The governing council, in a statement, announced the appointment of Raimond Molenje as the acting CEO until a…
