Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
I&M Group’s first quarter report of this year shows that the bank has a profit of KSh3.32 billion, an increase of 31 per cent from the KSh2.5 billion recorded last year. Interest income, which grew by 38 per cent to KSh8.8 billion, greatly influenced the profit growth. The growth in net interest income offset a 9.4…
According to Joseph Siror, the managing Director of the Kenya Power and Lighting Company (KPLC), for every KSh100 paid by customers, KPLC receives only KSh2 or less as profit. He also stated that most of the money goes to the generation of electricity. “For every KSh100 that you pay in the bill, 65 per cent…
Kenya Commercial Bank (KCB) Nakuru Branch has developed KCB Chama App that aims to assist cooperatives and Chamas on handling finances, taking loans or saving towards an a goal. KCB Nakuru Branch Manager Christine Keter while speaking in Nakuru on Thursday, May 23, 2024 where she led a team from the lender in a meeting…
Safaricom Investment Co-operative, in a move to expand its footprints across the country, has launched its 158th land project in Eldoret project. The 30- acre project dubbed ‘Adelaide Creek’ consists of quarter-acre projects priced at KSh2.5 million with amenities such as graded murram roads, a chain-like fence, and readily available electricity and water connections. SIC,…
Asman Mugambi Ibrahim has been appointed as the new Chief Executive Officer Jubilee Life Insurance. In a statement, Chairman and Board of Directors in a said that Asman possesses over 20 years of extensive industry experience. Asman holds a Bachelor of Science (First-Class Honours) in Actuarial Science from the University of Nairobi. He has worked…
Six governors from the Nyanza region have distanced themselves from a scheduled Nyanza International Investment Conference, expected to take place next month. The Governors’ namely Anyang Nyong’o of Kisumu, James Orengo (Siaya), Amos Nyaribo (Nyamira), Simba Arati (Kisii), Gladys Wanga (Homa Bay) and Ochilo Ayacko of Migori all said they have been sidelined in the…
More than 70 per cent Airbnb operators in Western Kenya tourism circuit are not paying the 2 per cent tourism levy as the law stipulates. Tourism Act, requires various entities offering accommodation services to remit levies based on income generated every month. The levy payable is two per cent of income generated per month for accommodation, and…
Kenya’s KCB Group’s pretax profit for the first quarter of this year jumped 53 per cent, assisted by higher interest income, it announced on Wednesday, May 22. The lender, which also operates in Uganda ,Tanzania, Democratic Republic of Congo, Rwanda, South Sudan, and Burundi, said pretax profit rose to KSh21.16 billion from KSh13.85 billion in the…
Laikipia based Sossian Ushanga Marketing Co-operative Society Ltd took the opportunity to showcase Kenya’s rich cultural heritage globally. The society with more than 700 members, took the opportunity during the President William Ruto US state visit. The Retail Store that has ‘Made in Kenya’ brands in Atlanta, Georgia, US.Laikipia MP Jane Kagiri said the women…
Stima DT Sacco has been awarded the Winner in the Highest Shareholding Category Parastatal and the first Runners Up as the Best Insured Cooperative Society – Nairobi Region, at the Cooperative Insurance Society (CIS) Annual General Meeting 2024 held recently. The trophies were received by Sacco’s National Treasurer, CPA Mary Maalu. The event was held…
