Over 13 million Kenyans affected as Opera stops free data offers on regulatory changes

Opera has stopped its free data plan which allowed Kenyans to enjoy free data bundles to access the Opera, which runs the Opera Mini Browser, as a result of  local authorities’ decision, including the Betting Control and Licensing Board, to halt advertising on Speed Dials (bookmarks on the start page) within browsers. According to Google,…

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Government plans to merge CMA, IRA and SASRA

The Government intends to merge three major financial regulatory bodies in the country to enhance service delivery, avoiding duplication of roles and reduce bureaucracy. According to reports, Prime Cabinet Secretary Musalia Mudavadi said recently that the three regulatory bodies are Saccos Societies Regulatory Authority (SASRA), Capital Markets Authority (CMA), and the Insurance Regulatory Authority (IRA)….

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Diamond Trust Bank officials during the unveiling of new seven branches.

Diamond Trust Bank unveils seven new branches

DTB Bank has opened new seven branches across the country. These include Gikomba, Eastleigh (BBS Mall), Karen Hardy, Ongata Rongai, Kapsabet, Kenol in Murang’a and Bondeni in Mombasa. The DTB Group Chief Executive Nasim Devji said the unveiling of these new branches is a testament to unwavering commitment of the lender to bring services closer…

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Bamburi plant

Bamburi Cement posts net loss of KSh399 million, raises shareholder payouts

Bamburi Cement Plc recorded a net loss of KSh399 million for the year ended December 31, 2023 compared to a net loss of KSh181 million it posted in 2022. However it raised its dividend payout to shareholders 7.3 times translating to KSh1.99 billion as a result of increased financial muscle. Bamburi CEO Mohit Kapoor said…

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Co-operative University of Kenya Deputy Vice Chancellor Prof. Esther Gicheru. She is the Board Chair of Kenya Society of Professional Co-operators. Symon Mburia.

Co-op professional body releases this year’s training plan for sector players

The Kenya Society of Professional Co-operators (KSPC) has officially released its training plan for this year targeting key players in the sector. The training, spread out throughout the year started February, will basically target Chief Executive Officers (CEOs) and their deputies (D/CEOs), Heads of Departments (HoDs), Boards and Supervisory Committees, and staff working in the…

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Fred Sitati, Co-operative Movement Consultant

Draft Cooperatives Bill needs to reflect proposals in Sessional Paper No 4 of 2020

The enactment of the Cooperative Societies Act, No 39 of 1966 was the outcome of the Sessional Paper No. 10 of 1965 on “African Socialism and its Application to Planning in Kenya”, while the subsequent enactment of the Cooperative Societies Act, No 12 of 1997 (Amendment 2004) was anchored on the Sessional Paper No. 6…

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Ukulima Sacco rebrands to Apstar Sacco to cast net wider and welcome MSMEs

Ukulima DT Sacco Society has rebranded to Apstar Sacco to redefine its business model, departing from its traditional catchment of the farming community to attract youthful membership in the Micro, Small and Medium Enterprises (MSMEs) segment. Part of the vision is to offer clear and transparent financial products and services, which will be accessible to…

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Cooperatives and MSMEs Cabinet Secretary Simon Chelugui speaks during the recent Kigumo basket weavers’ expo and fundraiser.

Government to develop new app to link artisans with customers, CS Chelugui says

Cooperatives and MSMEs Cabinet Secretary Simon Chelugui has said that Government will develop various apps to assist artisans market products within and outside the country. The CS said that through digital marketing, artisans will to attract potential buyers worldwide which will uplift their livelihoods. The CS spoke during the recent Kigumo basket weavers’ expo and…

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Sacco National Chairman Harrison Katoni during the Annual Delegates Meeting. Photo:Obegi Malack

Jamii DT Sacco posts impressive growth to pay high dividends in 2023

Jamii Sacco has recorded growth in gross revenue by 4 per cent in the year ended December 2023, rising from Ksh 657.8 million to Ksh 682.5 million. Based on the good performance in this and a diversity of other parameters, the board paid out dividends on share capital and savings at the rates of 13…

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