Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Financial communication, which refers to the process of disseminating financial information to stakeholders such as investors, analysts, and the general public, is increasingly becoming an important aspect in the corporate world. It encompasses a wide range of activities, including the preparation and release of financial statements, investor relations, and financial reporting. It is important to…
The High Court has issued conservatory orders suspending the implementation of the Fisheries Management and Development (Aquaculture) Regulations 2024. This follows a petition filed at the Milimani High Court in Nairobi by the Lake Victoria Aquaculture Association (LVA) to contest the new regulations recently gazetted by Mining, Blue Economy and Maritime Affairs Cabinet Secretary (CS)…
The Ministry of Cooperatives and Micro, Small, and Medium Enterprises (MSME) Development has cautioned SACCOs against paying unrealistic bonuses, dividends, and interest, as such cash outflows could cause liquidity challenges if not properly managed. Through a circular sent to SACCOs by the State Department of Cooperatives, the Office of Commissioner David Obonyo stated that the…
The primary purpose of a Sacco is to serve the community in which it operates. This is based on the understanding that co-operatives are not-for-profit enterprises, as the majority of the profit goes toward fulfilling the social, economic, and cultural needs of the community in which they operate. It is obvious that when a co-operative…
The County Government of Nakuru has rolled out a program to digitize the business models of Savings and Credit Cooperative Organizations (SACCOs) to make their operations more efficient and transparent. County Cooperatives Chief Officer Kibet Kurgat said the County had initiated a training program for Sacco officials on the digitization of their operations, aimed at…
Nairobi City County Government has announced plans to upscale enrollment of members of Cooperatives and Savings and Credit Cooperative Organizations (SACCOS) in to the Social Health Authority (SHA) program. This strategic move is designed to boost health coverage for the city’s informal sector, which plays a pivotal role in Kenya’s economy. During a capacity building…
The Kenya Sugar Board (KSB) has been given a six month ultimatum to draft regulations aimed at streamlining operations of the troubled sugar sector. Agriculture Principal Secretary, Kiprono Ronoh, said these regulations are crucial for ensuring the effective implementation of the new law which came into place following the recent assent of the Sugar Bill…
President William Ruto has defended the government’s livestock vaccination initiative, set to commence in January 2025. Ruto said the initiative is a critical step toward improving animal health and boosting the livestock sector. The program will see to the vaccination of 22 million cattle against Foot and Mouth Disease (FMD) and 50 million sheep and…
Principal Secretary – State Department for Agriculture, Dr. Kipronoh Ronoh, has assured coffee farmers that the government is committed to restore profitability to the coffee sector. The PS attended Torsogek Coffee Farmers Cooperative in Kericho County to celebrate a key milestone said the coffee industry which supports around 5 million Kenyans must be supported. The…
Kajiado County Governor, Joseph ole Lenku, has condoled with the families of Obomo Sacco, a savings and credit cooperative that was founded by Mzee Zablon Nyakeruma who passed on last week. Governor Lenku said Mzee Nyakeruma was not just a pioneer but a visionary leader who left an indelible mark in Kajiado County. He said…
