Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Obegi Malack obegimalack@gmail.com The Central Bank of Kenya (CBK) has announced reinstatement of charges on transactions between mobile money and bank accounts starting January 1, 2023. The charges were waived on March 16, 2020 as part of the emergency measures to encourage the use of mobile money at the height of the Covid-19 pandemic….
By Peter Otuoro Stakeholders in the cooperative movement aired the major challenges facing the movement to the new government through the new Cooperatives & MSMEs CS Simon Chelugui and PS Patrick Kilemi. Speaking during a consultative meeting on the realignment of cooperative and Saccos activities held by the Cooperative Alliance of Kenya at Sawela hotel…
By Emmanuel Gwakoi Gusii Coffee Farmers Cooperative Union (GCFCU) Chief Executive Officer Robert Mainya has disclosed that coffee hawking has affected operations of coffee farmers’ cooperative societies and farmers earning. Speaking to Education News in his office, Mainya argued that farmers who sell their produce to middlemen and private millers deny the cooperatives the chance…
By Azael Masese Outgoing State Department for Cooperatives Principal Secretary (PS) Ali Noor Ismail is a happy man. Despite missing out on nominees list for PS positions in the new government, he has no bones to pick with anyone as he says the cooperative sector under him achieved a lot. He had expressed interest to…
By Azael Masese Savings and Credit Cooperative Societies (Saccos) are increasingly following in the footsteps of commercial banks by using personal security such as title deeds and log books instead of guarantors when issuing loans. An analysis by Sacco Review indicates that the number of Saccos giving members the option is on the rise and…
By Robert Nyagah Stakeholders from transport Saccos in Embu County have petitioned financial institutions, especially banks, to review their lending structures to make them friendlier to borrowers and guarantors. Former Manyatta MP Mr. Emillio Kathuri, a founder member of Neno Sacco and the chairman of the Sacco’s Welfare Committee, noted that many loan beneficiaries and…
By Obegi Malack obegimalack@gmail.com Magadi Road Zone Online Drivers Sacco members have been challenged to join workers union for protection of their rights, improvement of their wages and good working conditions. Transport Workers Union Kenya (TAWU)had held a meeting with the Sacco members in Siron Place Ongata Rongai and educated them on importance of joining…
By Obegi Malack obegimalack@gmail.com Kenyans will now access Hustlers Fund after launch by President William Ruto on Wednesday at Green Park in Nairobi City. Hustler Fund borrowers will use *254# to access the fund, they will access the fund from leading network telcos Safaricom, Airtel and Telekom. To be eligible for the fund one must…
By Robert Nyagah Members of various university-based Saccos are cash strapped and unable to borrow from their Saccos as their employer failed to remit their deductions that have accumulated to a whopping Ksh4.2 billion. The managements of several of the Saccos have been struggling to give their members loans, given that they have no cash…
By Peter Otuoro Cooperatives Cabinet Secretary (CS) Simon Chelugui has said that over Ksh2 billion has not been remitted by various state and private organizations to Saccos on behalf of their employees. Chelugui said the government will put strict measures to ensure all deductions on members’ salaries are remitted without delay, be they from public or…
