Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Imarika Deposit Taking Sacco has recorded remarkable growth in total assets amounting to Ksh13.1 billion. Its impressive performance has seen the SASRA annual report of 2022 rank the Sacco number 16 nationally in terms of assets base and number 11 in terms of profitability. Speaking during their Annual Delegates Meeting held at Travellers Beach Hotel…
Cooperative Bank was named Overall Winner of the recently conducted Banking Industry Customer Satisfaction Survey conducted by the Kenya Bankers’ Association (KBA), which also declared it the winner in the Tier One Bank Category. This is the second consecutive win, having also won the overall title for year 2022. The survey was conducted by interviewing…
Savings and Credit Co-operatives (Saccos) will this year receive Ksh5.7 billion in dividend after Co-operative Bank of Kenya announced profit before tax of Ksh32.4 billion for Full Year 2023 as it prepare to have its virtual Annual General Meeting (AGM) on May 17, 2024. This will be the same level of dividend paid to Saccos…
The country’s Sacco umbrella body, Kenya Union of Savings and Credit Co-operative (KUSCCO), has warned the entities against declaring unrealistic dividend payouts in a bid to retain membership. Speaking during Imarika Sacco’s Annual Delegates Meeting (ADM) in early March at Travellers Beach Hotel in Mombasa, KUSCCO Acting Managing Director Arnold Munene noted that it is…
The African Confederation of Co-operative Savings and Credit Associations (ACCOSCA) has partnered with VISA to launch Financial Inclusion in Kenya and Tanzania (FIKT) project to improve access and usage of formal financial services among underserved communities and small businesses. The project aims to leverage the strength of the Sacco sub-sector in Africa and the Visa…
Principal Secretary State Department for Co-Operatives Patrick Kilemi has said the Government of Kenya will partner with Zambia’s to improve the growth of cooperatives in the country. The PS who attended a two-day Zambia’s inaugural National Conference on Micro, Small and Medium Enterprises (MSMEs) and Cooperatives in Lusaka, Zambia said the cooperation will enhance and…
Gusii Youth Bunge Savings and Credit Cooperative Society chairman, Asha Moronya has said the society restructures members loans to ease their burden. Members, notes the official have challenges repaying loans owing to global economic recession and it is necessary for the management to assist them. “We restructure their loans and support them repay the loans…
Old Mutual has launched its latest Financial Services Monitor, which offers invaluable insights into the financial behaviours and attitudes of Kenyans, with a particular focus on women. Old Mutual Women’s Network Patron Anne Nyamu said the second edition of the Old Mutual Financial Services Monitor (OMFSM) provides a comprehensive analysis of the Kenyan economy, highlighting…
Over 1500 Small and Medium Enterprises (SMEs) from across the country are set to receive a boost in financial literacy training, market linkages, business networking and financial access through a newly launched empowerment programme. The Inua Biashara programme brings together financial institutions, media houses, the national chamber of commerce and industry as well as learning institutions;…
Ndege Chai Sacco has doubled marketing efforts to attract more youthful members to the society. The Chairman Supervisory Paul K.Mutai told delegates that there was need to focus marketing efforts towards the younger generation to ensure sustainability of the Sacco adding, “as the economy improves opening up opportunities for employment and business for the youth,…
