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Thieves raid Kangundo coffee factory, steal 70 bags worth millions

Sacco ReviewJuly 1, 202604 mins

Thieves armed with pangas attacked guards, tied them up, and stole over 70 bags of coffee worth millions, along with a water pump. Factory manager John Muli Kaloki urged police to intensify patrols and investigations, while calling on area MP Fabian Kyule to help farmers recover from the heavy losses. A night raid at Unywani…

Kenya losing billions to raw export loopholes, says CS Kagwe

Sacco ReviewJuly 1, 202605 mins

Agriculture Cabinet Secretary Mutahi Kagwe has said Kenya continues to lose billions of shillings in potential revenue by exporting raw agricultural produce instead of value-added products, leaving foreign countries to earn the highest returns through processing, packaging, and branding. Speaking on Wednesday, July 1, during the World Food Prize Foundation Dialogue Next Forum, Kagwe criticised…

Biashara DT Sacco mourns the passing of Supervisory Committee Chairman Patrick Wanjohi Maina

Sacco ReviewJuly 1, 202603 mins

Biashara DT Sacco Ltd has announced the death of Patrick Wanjohi Maina, who served as the Chairman of its Supervisory Committee. In a obituary notice in one of the dailies, the Sacco conveyed its heartfelt condolences to his family, friends, colleagues, and all those whose lives he touched. “It is with deep sorrow that we…

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World Bank allocates Ksh97 B to boost Kenya’s anti-corruption and governance reforms

Sacco ReviewJuly 1, 202604 mins

World Bank approves Ksh97 billion to support Kenya’s anti-corruption efforts, governance reforms, and better public financial management. Funds will strengthen transparency through stricter procurement rules, improved financial oversight and enhanced systems to curb fraud and misuse of public resources. The World Bank, through the Second Green and Resilient Inclusive Growth Development Policy Operation (DPO), has…

MPs question Ksh100,000 deposit insurance ceiling under proposed Sacco law

Sacco ReviewJuly 1, 2026July 1, 202605 mins

MPs have questioned a proposal in the Sacco Societies (Amendment) Bill, 2025 to cap deposit insurance compensation at KSh100,000, warning that the limit could leave members with larger savings exposed if a SACCO collapses. Lawmakers urged SASRA to adopt a more flexible and depositor-friendly framework that strengthens oversight, protects members’ savings, supports innovation, and avoids…

MPs call for stronger protection for SACCOs savings as Amendment Bill comes under scrutiny

Sacco ReviewJuly 1, 202604 mins

Members of the National Assembly Departmental Committee on Trade, Industry and Cooperatives have called for the inclusion of stronger safeguards in the proposed Savings and Credit Cooperative Societies (SACCOs) legislation, saying the law should better protect members’ savings while promoting accountability and efficiency without imposing excessive bureaucratic requirements. The committee, chaired by Bernard Shinali, met…

Kisii Governor urges Boda Boda riders to join Saccos, invest in Agribusiness

Sacco ReviewJuly 1, 202604 mins

Boda boda operators in Kisii County have been urged to join Savings and Credit Cooperative Societies (Saccos) to improve their access to affordable credit, diversify their sources of income, and strengthen their financial stability. Speaking during a meeting with more than 500 boda boda riders at Kisii Stadium, Kisii Governor Simba Arati encouraged the operators…

Kisumu bar owners urge parliament for inclusive Tobacco Bill consultation

Sacco ReviewJuly 1, 2026July 1, 202605 mins

100-metre rule impractical: Andrew Matoka emphasized that restricting tobacco and nicotine sales within 100 metres of schools and child-centered facilities is unrealistic in densely populated urban settings. High licensing costs burden: Erick Ogutu noted that bar owners already face expensive licensing and complex compliance requirements, warning that the new bill risks adding further burdens without…

Government expands affordable credit access to boost MSME growth, create jobs

Sacco ReviewJuly 1, 202603 mins

The government is intensifying efforts to unlock financing for micro, small and medium enterprises (MSMEs) by widening access to affordable credit and introducing tailored financial products for different categories of entrepreneurs. Speaking at the Kenya Development Corporation (KDC) Customer Networking Forum in Nairobi, Principal Secretary for MSME Development Susan Mang’eni emphasized that bridging the financing…

Abdi Mohamed named I&M Bank Kenya CEO after resignation from ABSA

Sacco ReviewJuly 1, 202604 mins

I&M Group PLC has appointed Abdi Mohamed as the Chief Executive Officer of I&M Bank Kenya, days after his resignation from Absa Bank Kenya was formally announced. In a notice to shareholders issued on Monday, the lender announced that Mohamed will join the bank from Absa Bank Kenya PLC, where he has been serving as…