Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
The managements of various Saccos in Mt Kenya region have intensified campaigns to educate their members on skills for prudent management of borrowed funds in a bid to tame increasing cases of default in loan payments. Most Sacco are still grappling with recovery of funds held in defaults by borrowers mainly attributed to prevailing economic…
The vibrant Imarika Sacco Limited in Kilifi County has a new treasurer, Sylvester Charo. Speaking to Sacco Review in Kilifi town recently, Charo who has been the Imarika Sacco Secretary has replaced the former Treasurer, Reuben Gideon Kaphu who has retired from the teaching profession after attaining the retirement. While talking to Sacco Review from…
Miners in Rongo Sub-county have formed a marketing cooperative society to protect members from preying cartels and uplift their living standards. The North Kamagambo Mining and Marketing Cooperative Society based in Rongo Sub-county is only four months old and going strong. The society recently held a one day seminar in Rongo town to sensitize members…
GDC Sacco Society Ltd (GDC) has embarked on an ambitious plan to grow its asset base to KSh8.5 billion as it seeks to be among the top 50 Saccos in the country. The Sacco which currently has over 34,000 members, who are mainly dairy farmers in the agriculture-rich Githunguri Sub-county in Kiambu County, is keen…
Kenyan lender Equity Group reported a 13 per cent fall in 2023 pretax profit to KSh51.9 billion, weighed down by a surge in provisions for bad debts, the firm announced on Wednesday March 27. Equity is East African country’s top lender by earnings. READ ALSO: Capital Sacco launches promotion to reward members purchasing shares The firm…
Kenya is set to host the 24th Savings and Credit Cooperatives Associations (SACCA) Congress on October 6-12, 2024 in Naivasha, Nakuru County. The 2024 SACCA Congress will be organised by African Confederation of Cooperative Savings and Credit Associations (ACCOSCA) in collaboration with the Ministry of Cooperatives and MSMEs Development and Kenya Union of Savings and…
Capital Sacco has officially launched an ambitious share drive promotion meant to recruit more members to the institution and reward those who add on their capital share. The promotion dubbed ‘Pepea na Capital Sacco’ aims at mobilising more members to buy more share capital with the winners set to be awarded with various prizes. The…
I&M Group bags net profit growth by 12.6 per cent from the financial year ending December 2023 amounting to KSh12.6 billion. The firm attributes the 15 per cent growth in its profits to an increase in its operating income. The Group has also increased dividends for the third straight year to KSh2.55 a share amounting…
Kenya’s KCB Group posted a 15 per cent drop in pretax profit in 2023 to KSh48.5. Therefore, it announced it would not pay a dividend for the period in order to conserve capital. For the first time in 21 years, KCB Group shareholders will miss out on dividends after the bank reported a net profit to…
Kenya’s KCB Group has said it will sell its subsidiary National Bank of Kenya (NBK) to Nigeria’s Access Group. During an investor briefing on Wednesday March 30, the KCB’s Chief Executive Paul Russo, said the deal was struck at 1.25 times book value, but did not give the exact figure. He said, “The right thing to…
