Co-op News - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Delay by counties to remit staff contributions hampering smooth operations of Saccos

Sacco ReviewMay 2, 2024May 2, 202403 mins

The delays and sometime failure by counties to remit deductions to Saccos has hampered their smooth running and even risking liquidity. Saccos now say that employer institutions’ failure to honour their obligations of remitting Sacco deductions affects the financial performance of these firms, despite various policy and administrative measures being put in place to address…

Lands Committee wants Cooperatives Ministry to intervene over liquidation of Drumvale Sacco

Sacco ReviewMay 2, 2024May 2, 202405 mins

The Departmental Committee on Lands has put to task Ministry of Cooperatives officials in connection with the liquidated Drumvale Farmers Cooperative Society. The parliamentarians questioned the Principal Secretary for Cooperative Development Patrick Kilemi on events leading to the liquidation of assets of the Machakos based Cooperative Society that saw members losing over 500 acres of…

Mombasa’s 300 co-operative societies assets surge to KSh25 billion

Sacco ReviewApril 30, 2024April 30, 202403 mins

Mombasa County has a total of 300 registered cooperative societies, Sacco Review has learnt. Speaking to Sacco Review in his office at Bima Tower Building in Mombasa town recently, Mombasa County Cooperative director, Nelson Nyoro said that the 300 registered cooperatives societies have a current membership of 98,000 members. He further revealed that the cooperative…

Nandi Saccos urged to develop products favourable to farmers to boost food security

Sacco ReviewApril 29, 2024April 29, 202404 mins

Nandi Deputy Governor Yulita Mitei has urged Saccos to develop products that are favourable to farmers to boost food security. Speaking at Kapsabet Showground during a two-day business trade exhibition organized by Kapsabet Showground in conjunction with Nandi County Government, Dr Mitei said the county administration has invested heavily in the agriculture sector calling on…

Over 1,000 boda boda operators receive free training in Uasin Gishu

Sacco ReviewApril 29, 202406 mins

Boda Boda Saccos in Uasin Gishu County have received a huge boost through training and award of licences by the Kenya Roads Board (KRB), county administration and Kenya Red Cross among other partners. The training and licensing process served to refine and authorize individuals to operate on the roads legally especially for some who may…

50 new cooperative societies registered in Taita Taveta

Sacco ReviewApril 29, 2024April 29, 202402 mins

Some 50 new cooperative societies have been registered in Taita Taveta County, Sacco Review has established. Speaking to Sacco Review in Voi town recently, County Cooperative Commissioner Erastus Gonzi said that the 50 new cooperatives were registered between September last year and early April this year. He further stated that 10 dormant cooperative societies in…

FOPPS Sacco, Co-operative Bank partner on Last Expense Policy Cover

Sacco ReviewApril 28, 2024April 28, 202405 mins

Former Public and Private Sector Cooperative Society (FOPPS) Sacco have entered into a contract with Cooperative Bank as the Last Expense Cover for its members. In a speech during the FOPPS Sacco Annual General Meeting at ACK Guest House in Amagoro, Busia County, National Chairman and founder Ben Akwara said the Last Expense Policy Cover…

Five risk management strategies for Saccos

Sacco ReviewApril 27, 202406 mins

Saccos benefit many people and in their daily activities they are exposed to a variety of risks — either internal or external. Internal risks are those within the organisation while external risks are outside the control of the Saccos. These risks make Saccos fail to meet their goals and members are the one affected. Among…

Troubled Metropolitan Sacco AGM ends unceremoniously in Kiambu

Sacco ReviewApril 26, 2024April 27, 202406 mins

Metropolitan Sacco 46th Annual General Meeting (AGM) that was taking place today at Kiambu High School ended unceremoniously as members demanded for financial reports. According to reports, the management of the Sacco said they did not have financial reports because SASRA had not approved them yet. The reports further indicate that members of the Sacco…

KCB to auction 100 Greatwall Apartments in Athi River

Sacco ReviewApril 26, 2024April 26, 202404 mins

Some 100 homeowners at Greatwall Gardens estate in Athi River might lose their units after Erdemann Property Limited lost a KSh1.9 Billion loan case against Kenya Commercial Bank. Erdermann Property Ltd, the developer made a prayer to the court saying that homeowners were innocent purchasers and that the units were sold by mistake, the prayer…