Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
By Joyce Wambui African credit unions had the largest increase in membership in 2018 with a 21 per cent jump from 2017 according to World Council of Credit Unions last year Statistical Report. Globally the membership stands at more than 274 million with a 9.38 per cent penetration. The report also showed that there were…
By Achola Mathews Business people and members of Saccos have been cautioned against agreeing to guarantee loans for people they do not know well. According to the lending laws, a guarantor is responsible for any loan recovery in case the client does not honour the terms of payment agreed upon at the time of lending….
By Enock Kipturgut A Korean investor Reverend Cha Bo Yong is set to put up a Sh 70 million coffee milling factory that will benefit Tugen Hills Farmers’ Co-operative Society members. The society Chairman Mark Yatich noted that the factory is a landmark project that will empower coffee farmers in Baringo County and beyond besides…
By Staff Writer Bingwa Sacco has continued to expand its reach countrywide. The financial institution that has embraced information and communication technology in service delivery in September last year opened its 19th branch in Kagio town. The Sacco has consistently increased its presence in Kirinyaga County and surrounding regions. It also has presence in Nairobi…
