Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Roy Hezron Nairobi City County is planning to allocate Ksh 866.7 million over the next five years to the state department of cooperatives to be used for cooperative development and audit. The move is also to facilitate the growth of a vibrant cooperative movement with financially strong and well managed cooperatives in the…
By Roy Hezron Nairobi County Governor Johnson Sakaja is planning to allocate Ksh 4 billion to the Business and Hustler Opportunities sector over the next five years. A huge chunk of the amount will be allocated for cheap credit and business financing. According to the County’s draft of the 2023-2027 Integrated Development Plan, the proposed…
By Roy Hezron Those who will be buying houses and homes through Saccos for the first time will now start enjoying tax relief of up to Ksh 25,000 on their monthly salary starting from July this year. The move is being pushed for by Cabinet Secretary Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Development…
By Alfred Kimosop Baringo County’s Cooperative Officer David Maina has asked Boresha Sacco members to organize themselves so as to benefit from Hustler Fund’s second phase that targets groups. He said it was ripe for members to establish income generating activities that will help them repay the low interest loans offered through Saccos once it…
By Peter Otuoro Patrick Thogo was elected the new Director of Tower Sacco in a competitive election carried out at Olkalou Primary School in Nyandarua County. Thogo got 222 votes against his close competitor James Mwangi who got 219 votes. He thanked everyone who voted for him and congratulated and thanked his competitor for serving…
By Vostine Ratemo Farmers have opposed the move by the state to privatise milk processor New Kenya Co- Operative Creameries (New KCC), warning that the plans will be a burden to them. In the year 2019, the government suspended plans to privatise the New KCC, being apprehensive about leaving the key dairy sector completely in…
By Felix Wanderi Nyeri Governor Mutahi Kahiga has called on Newfortis sacco members to protect the sacco from political interference. Mutahi speaking at Nyamachaki primary school grounds during the Newfortis sacco 47th annual general meeting said that those interested in politics should quit the sacco and enter the political arena so that they can square…
By Our Reporter Mwalimu National Sacco have lost an appeal seeking quashing of sh 44.9 million tax demand by government. The High Court Justice David Majanja dismissed the petition detailing that an appellate court dealing with matters of law cannot engage in a factual exercise as it will be usurping the powers of the tax…
By Obegi Malack The National government has agreed to re-introduce the cooperative bill which was rejected by last parliament. Cooperatives and micro, small and medium enterprise cabinet secretary Simon Chelugui said they are committed to reintroduce the bill after a meeting with the council of Governors in Mombasa. Bungoma Governor Kenneth Lusaka who is also…
By John Majau Kenyans have continued to borrow from the Hustler Fund, with more than Ksh15.9 billion being disbursed by yesterday. Cooperatives and Micro and Small Enterprises Cabinet Secretary (CS) Simon Chelugui said more than 18.4 million Kenyans have subscribed to the fund while over Ksh 7.7 billion has already been repaid. The CS said 5.6…
