Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Andrew Walyaula Waliaulaandrew0@gmail.com Stanbic Bank Kenya and the Kenya National Chamber of Commerce and Industry (KNCCI) have signed a partnership to provide financial and non-financial support to Micro, Small and Medium Enterprises (MSMEs). The Memorandum of Understanding (MoU) between the two entities was signed at the Busia Youth Polytechnic Ground on the sidelines of…
By Fred Sitati The Sessional Paper No 4 of 2020 themed “Promoting Cooperatives for Socio-Economic Transformation” seeks to transform cooperatives in the country by, among other initiatives, advocating for formation of sub-sector-specific Federations to provide specialised services to their member-affiliates. This is necessary to guarantee effective service delivery to the ordinary cooperators who are members…
By Andrew Walyaula Waliaulaandrew0@gmail.com Former Uchumi Supermarket CEO, Jonathan Ciano, has been awarded Sh6.5 million by the court for leave days, unused leave days and gratuity, terming his sacking seven years ago as invalid. He was sacked in June 2015 on claims of gross misconduct and negligence that resulted in the listed retailers owing suppliers…
By Andrew Walyaula Waliaulaandrew0@gmail.com Kenya has signed a bilateral agreement with Democratic Republic of Congo (DRC) to boost agricultural productivity and food security, through “mutually beneficial trade”, education and research. DRC will provide a ready market for Kenya’s food products which are the main exports and account for 33 percent of the nation’s Gross Domestic…
By Asa Maina One of the youngest Saccos in Nyeri County has paid out dividends at 4 percent and interests on deposits at 6 percent. Nyeri South Traders Sacco’s dividend payout was, however, a drop compared to 10 percent paid out in 2020 and eight percent in 2019, which was attributed to the challenges of…
By Talarus Chesang More than 200 coffee farmers in Baringo can now smile to the bank after they earned a whopping Shs 28 million for exporting their first consignment of coffee to Korea. The farmers, from 27 groups, converged at the Katimok coffee factory in Baringo North to receive their dues. The benefits the farmers…
By David Kipkorir Kenya’s cash crop farming has lost its glamour as farmers decry dwindling fortunes, abandoning it for other alternatives. The beleaguered farmer is losing hope in the crops they depended on for their survival. Many farmers in the country have been uprooting coffee trees, complaining of hard economic times they have faced in…
By Obegi Malack obegimalack@gmail.com The Permanent Secretary for State Department of Cooperative Ali Noor Ismail has commended cooperatives for their contribution in the government agenda of affordable housing. The PS who was speaking during Ukulima DT Sacco’s 50th anniversary in a Nairobi Hotel said the Saccos provides 80% of housing needs in the country…
Kingdom Bank, formerly Jamii Bora Bank contributed over Sh 500 million profit before tax The bank has recommended dividend payment of Sh 1 per share, or Sh 5.9 billion Total Assets grew eight per cent during the year to Sh579.8 billion from Sh536.9 billion in the year 2020. By Roy Hezron The Co-operative Bank Group…
By Sammy Chivanga Savings and Credit Co-operative Societies (Saccos) are declaring increased dividends on continued recovery from the Covid-19 economic headwinds that had slowed business activities and increased the need for cash preservation. Many Saccos have made increased cash distributions in what offers timely boost to members ahead of the start of crucial activities such…
