Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Bungoma County Government is set to revive the dormant co-operative societies in the region. Stella Mutsotso, the Chief Officer in charge of Co-operatives urged farmers to join co-operative societies in order to empower themselves economically. “If our farmers join co-operative societies, they will get better returns of their agricultural produce based on their bargaining power….
By Staff Reporter Following the expiry of Mr. Chris Useki’s tenure as the managing director of Stima Sacco, the board has resorted to appointing Mr. Gamaliel Hassan as the acting Chief Executive Officer. Mr. Useki took over the helm of the Sacco in October 2016 as the acting chief executive officer after the resignation of…
By James Wakahiu Real estate developer, Urithi Housing Cooperative Society has dispelled fears that the Multibillion Organization is financially impotent but admits that business has significantly degenerated as a result of the Covid-19 pandemic. Urithi Housing Cooperative Chairman Samuel Maina confirmed that the company is still on course to deliver pending projects to its members…
By Felix Wanderi Poor decision making and bad debts have plugged Kumisa Sacco into a financial mess. During a recent Sacco AGM held at Kirigiti stadium, it emerged that the institution started in 2013 is on the verge of collapsing owing to liquidity challenges. The Sacco Board of Directors Secretary John Gakure informed members that…
By Our Reporter Co-operatives Principal Secretary Ali Noor Ismail has said the proposed Sacco Societies Fraud Investigation Unit (SSFIU) will start operations next month. The unit will have official from the Saccos Societies Regulatory Authority (SASRA), the Directorate of Criminal Investigations (DCI) and the Ethics and Anti-Corruption Commission (EACC). “Plans to operationalise the SSFIU are…
The government has moved to protect farmers from low milk prices By Our Report Co-operative societies income is expected to dip as the Kenya Dairy Board (KDB) has capped the amount they can deduct from farmers at Sh2 per litre. Some co-operatives are currently charging up to Sh3 a litre as administrative cost to the…
By Jackson Okoth Heavily indebted Kenya Planters Co-operative Union (KPCU), which has been under receivership for years, is finally on its final dash to oblivion. A liquidation process, to run over the next six months, will eventually bring down the curtain of the oldest and largest coffee processor in Kenya. In a gazetted liquidation order,…
By Kage Njoroge and Azael Masese When the book of Unaitas history, the name of Joseph Ngaai Kabugu is read loud and clear. Kabugu, the founding member of Unaitas when it started in 1993 in Murang’a, has risen through the ranks to become the society’s third chair. “Members proposed that I join the board in…
Ali Noor Ismail The Co-operative movement in Kenya is rated first in Africa with over 22,000 registered co-operative societies commanding a membership of over 14 Million and employing more than 500,000 Kenyans directly and another 1.5 Million indirectly. Co-operatives in Kenya have mobilized members’ savings and deposits of over Sh 732 billion, with an asset base of…
By Jackson Okoth State Department for Co-operatives is seeking for consultants to undertake a nationwide survey of the co-operative sector. It is believed that Kenya’s gigantic cooperative sector has over the years contributed immensely in mobilizing savings, creating employment opportunities and boosting in investments in virtually all segments of the economy. However, there is no…
