Co-op News - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Full in-tray for new Commissioner for Co-operatives Njang’ombe

Sacco ReviewJuly 21, 2020July 29, 202005 mins

By Our Reporter The acting Commissioner for Co-operative Development Geoffrey Njang’ombe is facing a full-in tray for the sector, with little time to settle given the disruption caused to the economy by coronavirus pandemic. Mr Njang’ombe took over from Didacus Ityeng who served briefly in acting capacity following the exit of Mary Mungai in April…

Cooperatives run on half budgets as Covid-19 halt meetings

Sacco ReviewJuly 18, 2020July 18, 202006 mins

By Sammy Chivanga Cooperative Societies have been given a special window to start spending part of their unapproved budgets in the wake of the Covid-19 pandemic that has made it impossible to hold annual general meetings. The acting commissioner for Cooperatives Geoffrey Njang’ombe has written to all cooperative societies allowing them to spend up to…

Is expanded membership becoming burden for Saccos?

Sacco ReviewJuly 17, 2020July 20, 202006 mins

By Sammy Chivanga The coronavirus pandemic has reinforced the need for Savings and Credit Co-operative Organisations (Saccos) to diversify membership in order to reduce existential risk. Kenyan economy continues to run into headwinds of Covid-19 since the first case was reported in the country on March 13, triggering job losses and salary cuts whose impact…

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Covid-19: Ushirika Day fete called off

Sacco ReviewJuly 16, 2020July 16, 202007 mins

By Our Reporter Co-operatives societies will have to wait until next year to hold Ushirika Day celebrations as the rising cases of Covid-19 forced organizers to call off the event. The event, part of the United Nations’ (UN) International Day of Co-operatives, was set for July 4, 2020, but the continued state ban on large…

Bungoma County Government urge farmers to join Saccos

Sacco ReviewJuly 13, 2020July 15, 202003 mins

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….

Stima sacco appoints Gamaliel Hassan as acting CEO

Sacco ReviewJuly 11, 2020July 15, 202002 mins

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…

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Trials and tribulations of Urithi Sacco

Sacco ReviewJuly 7, 2020July 14, 202015 mins

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…

Bad debt leaves Kumisa Sacco in financial crisis

Sacco ReviewFebruary 26, 2020February 26, 202005 mins

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…

Saccos fraud investigation unit to start operation next month

Sacco ReviewFebruary 25, 2020February 25, 202001 mins

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…

Dairy co-operatives to earn less from milk levy

Sacco ReviewFebruary 21, 2020February 21, 202002 mins

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…