Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Jackson Okoth. Harambee Sacco Society Ltd posted a decline in net surplus for the financial year ended December 31, 2016 to Sh100 million from Sh106.7 million in 2015. Interest on loans and advances rose from Sh1.5 billion to Sh1.6 billion while net interest income fell from Sh570.8 million in 2015 to Sh310.7 million in…
By Jackson Okoth. The National Treasury is seeking to allow all Co-operative societies to issue Shariah-compliant products, opening up yet another frontline where competition between these societies will be intense. On the list of Saccos that are already Sharia-compliant are Crescent Takaful Sacco Society Limited andTaqwa Sacco Society Limited. Takaful Sacco offers mobile payments, international…
By Murithi Kinoti. Centenary Sacco seeks to go big on agency banking as it expands its reach in the region and beyond. The Sacco also plans to open a satellite office at Marimanti Market in Tharaka-Nithi County with an aim of bringing financial services closer to existing members in that region as well as tap…
By Our Reporter. The County government is sponsoring training of more than 2,100 Boda boda riders across the county to acquire motorcycle driving licenses as well as formation of Saccos to promote their investment capacity. It has also launched Embu Women Sacco which will offer financial loans to members at reduced interest rates. In order…
By Tsozungu Kombe. Ushuru Sacco Society has disbursed Sh 2.4 billion in loans to its members as at the close of financial year ending 31st December, 2016. Speaking during the Ushuru Sacco Annual Delegates Meeting (ADM), held at Flamingoes Beach Hotel, Mombasa County recently, Chief Executive Officer William Pudha said the society’s total assets stood…
By Elvis Wasike. The Noble Sacco, formerly Wareng Teachers Sacco has promised never to take education of members’ children lightly. Chairman David Rono said school fees loans are now being processed within a short time to ensure all students learn without interruption. The Sacco based in Uasin Gishu County, he added, is taking education as…
By Stephen Makabila. Kenya is to help the Namibian Government strengthen its Co-operative Movement through offering of special expertise. Kenya’s Principal Secretary for the State Department of Cooperatives, Ali Noor Ismail said Kenyan consultants would help develop Namibia’s Co-operative sector. A team of Co-operative officials from Namibia was in the country in February on a…
By James Wakahiu. The owner of a real estate company and Sacco has denied swindling investors, and instead blamed reports carried by a section of the local media on his political detractors. Rev. David Kariuki Ngari (pictured), popularly known as Gakuyo who runs Gakuyo Real Estate and Ekeza Sacco said he runs legitimate businesses and…
By Joseph Mukubwa. Biashara Sacco Society, located in Nyeri County is targeting students through its Corporate Social Responsibility (CSR) programmes this year. This is through its school feeding programme, which was recently launched at the DEB Nyeri Primary School in Nyeri town. The Sacco has already spent some Sh200,000 on the initiative where over 500…
By Our Reporter. Homa Bay County Government has launched a Boda Boda Sacco bringing together more than 1,500 registered members.. Speaking at Rangwe recently, Governor Cyprian Awiti (pictured) said his office will set aside Sh6 million to get the Sacco on its feet. He said his administration plans to open motor cycle spare part shops…
