Category: Co-op News

By Roy Hezron Tower Sacco Board’s Vice-Chair Mr. Benson Chege Ruhang’a has passed on. It is reported that Mr. Chege passed on while undergoing treatment at Nakuru War Memorial Hospital. Until his death on 1st November 2020, Chege doubled up as Vice-Chair and head teacher at Gituru Primary School in Naivasha. With 42 years of…

By Staff Reporter Hazina Sacco Board’s Vice Chair Macdonald George Obudho has been appointed new Director General Kenya National Bureau of Statistics (KNBS). Macdonald George Obudho who takes over from Zachary Mwangi is set to lead KNBS for a period of 8 years. Obudho joined KNBS in 1995 and rose through the ranks from Statistician…

By Staff Reporter Operations at the Cooperative Tribunal Registry in Nairobi have been suspended for seven days after one of the staff tested positive for the Covid-19. In a memo dated 1st November 2020 and signed by the Chairperson of the tribunal Hon. Beatrice Kimemia to the public and advocates, the operations in the registry…

By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) have started issuing dividend advances to their members amid Covid-19 disruption that has resulted in a cash crunch for families and businesses.  The payouts come with three months left before the end of financial year and are expected to offer the much-needed liquidity boost to Sacco…

By Roy Hezron The 33rd World Cooperative Congress Day celebrations, which were to be held next month in South Korea, have been postponed due to the Covid-19 pandemic. The congress, which brings together all co-operative movements affiliated to the InternationalCooperative Alliance(ICA), has been re-scheduled to December next year. Seoul will still host the celebrations. The…

By Simon Njane Savings and Credit Cooperative Societies (Saccos) leaders are expressing mixed reactions to the regulator’s call for mergers as deposits get skewed towards large entities. While leaders of various Saccos support the proposal by the Sacco Societies Regulatory Authority (Sasra) that Saccos should consider merging to avoid collapsing, they are calling for caution….

By Sammy Chivanga When Covid-19 struck, it was expected that many Savings and Credit Cooperative Societies (Saccos) would face their biggest liquidity test. And as an increased number of Sacco members applied for consumption loans, Sacco leaders such as the Kenya Union of Savings and Credit Co-operatives Ltd (Kuscco) called for caution. But in a…

Press Release 19th October 2020 The Co-operative Bank has been named Best Bank in Kenya at this year’s African Banking Awards 2020 organised by EMEA Finance. This is the third time around, having won again in 2018 and 2019. The EMEA Finance Awards recognise financial institutions which, through their client focus and sound leadership, continue…

By Roy Hezron Public universities and other tertiary institutions have been accused of failing to remit members’ deductions to Saccos. The Sacco Societies Regulatory Authority (Sasra), in its annual report, says that the highest proportion of total non-remitted deductions are owed by public universities and colleges. With five deposit-taking Sacco societies whose membership are directly…