Category: Co-op News
Surestep Systems Ltd defends itself against fraud at Njiwa Sacco
Surestep Systems and Solutions Ltd has addressed the ongoing Njiwa Sacco fraud case. Through a press release dated September 23, 2023, the company stated that it believes it is essential to clarify that the matter dates back to 2018 and is not a recent occurrence. Since the inception of this case, Surestep has been unwavering…
Senior officials among 9 arrested in Ksh160M Sacco fraud
Detectives from the Directorate of Criminal Investigations (DCI) have arrested nine employees of Njiwa Savings and Credit Co-operative (Sacco) Society in connection with the disappearance of Ksh160 million from Sacco savings. In a statement through its official twitter handle this morning September 23, 2023, the DCI noted that the employees belonging to staff of the…
Women group seeks expert advice on how to transform into Saccos
Gatondo Women Group has called on co-operatives experts to provide professional guidance to rural based self-help and women groups in Embu County so as to transform into more profitable entities such as Saccos and Micro-Finance Institutions (MFIs). In an interview with Sacco Review, the Group’s chairlady Ms. Ephrath Wamai noted that a lot of such…
Finance agencies asked to motivate coffee farmers for investments
A Matungulu Constituency doctor has asked banks and micro -finance institutions to come up with schemes to motivate coffee growers for investments in the region. Dr Philip Munyao, a consulting doctor, said financial institutions should train farmers on investment opportunities, saying that if there were regular fora organized by the banks, the interaction will encourage farmers to…
All you need to know about retirement
Retirement can mean leaving employment to pursue other interests or businesses. According to my personal analysis, upon retirement, 47 percent of retirees depend on relatives, 3 percent go back to working, 16 percent depend on state pension and only 34 percent have financial independence. Interestingly, 82 per cent of those with financial independence (the 34…
CS urges Saccos to embrace new technology for relevance, sustainability
Cooperatives and Micro, Small, and Medium Enterprises Development Cabinet Secretary (CS) Simon Chelugui has urged Saccos to embrace the emerging Financial Technology (FinTech) innovations for relevance and sustainability. The CS emphasized the importance of cooperatives and Saccos in achieving financial inclusion for the majority of the Kenyan population in line with the government’s Bottom-up Economic…
Real estate stakeholders seek Govt intervention over delayed issuance of title deeds
Players in the real estate sector have raised alarm over delays in processing of title deeds. Association of Real Estate Stakeholders Chairman Kinyua Wa Iratu claims the delays have been occasioned by rampant corruption in various land registries infiltrated by cartels. He noted that some unilateral decisions like changes in land rates and other statutory…
Saccos urged to digitalize services for efficiency
Uasin Gishu County Director for Enterprise Development Isaac Lagat has urged Cooperatives and Saccos to digitalize their services to attract and retain clients. Lagat noted that digitization and automation of Sacco operations will make it easier for them to improve on efficiency and restore members’ confidence Speaking during the training of Sacco representatives drawn from…
Kenya cements position as Islamic Banking hub in East, Central Africa
The existence of Gulf Africa Bank, Dubai Bank and First Community Bank as fully fledged Islamic Banks has cemented Kenya’s position as a hub for Islamic banking in East and Central Africa. The position is further cemented by the existence of Islamic products in conventional banks and Saccos. Abdi Hussein, Gulf Bank Garissa Branch Deputy…
Kajiado County to revive Ushirika Day celebrations
Kajiado County Executive Committee Member (CECM) for Gender , Cooperatives and Culture Janet Sereu has revealed that the county government will revive the annual Ushirika day celebrations which were stopped three years ago. Speaking during the handing over of a cheque for the purchase of a new house to Muungano Women Group Housing Cooperative, the CECM revealed that the…
