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

Government to develop new app to link artisans with customers, CS Chelugui says

Sacco ReviewApril 20, 2024April 20, 202404 mins

Cooperatives and MSMEs Cabinet Secretary Simon Chelugui has said that Government will develop various apps to assist artisans market products within and outside the country. The CS said that through digital marketing, artisans will to attract potential buyers worldwide which will uplift their livelihoods. The CS spoke during the recent Kigumo basket weavers’ expo and…

Jamii DT Sacco posts impressive growth to pay high dividends in 2023

Sacco ReviewApril 20, 2024April 20, 202406 mins

Jamii Sacco has recorded growth in gross revenue by 4 per cent in the year ended December 2023, rising from Ksh 657.8 million to Ksh 682.5 million. Based on the good performance in this and a diversity of other parameters, the board paid out dividends on share capital and savings at the rates of 13…

Imarika DT Sacco assets base hits all time high of KSh13 billion

Sacco ReviewApril 20, 2024April 20, 202403 mins

Imarika Deposit Taking Sacco has recorded remarkable growth in total assets amounting to KSh13.1 billion. Its impressive performance has seen the SASRA annual report of 2022 rank the Sacco number 16 nationally in terms of assets base and number 11 in terms of profitability. Speaking during their Annual Delegates Meeting held at Travellers Beach Hotel…

How banks paid dividends to members in 2024

Sacco ReviewApril 20, 202402 mins

Banks paid KSh66.4 billion in shares to its members for the year ended December 31, 2023. The amount translates to a 48.9 a share of the cumulative KSh153.6 billion payouts from all counters. Equity Bank topped in paying dividend to shareholders on absolute terms at KSh15 billion translating to KSh4 a share on its over…

Construction sector tops in cleaning dirty money, report reveals

Sacco ReviewApril 19, 202402 mins

More than half of the 10,733 private companies involved in money laundering in Kenya are in the construction sector. This is strengthened by the unexplained capital-intensive real estate sector. The National Risk Assessment On Money Laundering and Terrorism Financing of Legal Persons and Legal Arrangements – Kenya report published by the Business Registration Service (BRS)…

Tea directors in Mt Kenya want Government to stop regrouping cartels

Sacco ReviewApril 19, 202403 mins

Tea directors from factories in the Mount Kenya region have lamented over the resurgence of cartels who want to siphon farmers’ money. The directors hailing from Zones one to seven, said that the well-connected individuals are on a mission to sabotage tea reforms by the Government. The State has been undertaking various reforms to liberate…

Harambee Sacco new shares offer seeks KSh4 billion for expansion

Sacco ReviewApril 19, 2024April 19, 202403 mins

Harambee DT Sacco has come up with share drive initiative to generate revenue of KSh4 billion to facilitate the expansion of the society in line with its strategic plan. All registered (both past and current) members of the Sacco are qualified to take part in the share drive. According to an information memorandum published by…

Stima Sacco bonanza drives shareholder payouts to new record of 15 per cent

Sacco ReviewApril 19, 2024April 19, 202406 mins

Stima DT Sacco Society Limited has delivered a strong fiscal report as seen in its latest financial statements to pay members dividends at a rate of 15 per cent and rebates at 11 per cent. The permutations translated to a total payout of KSh4.06 billion compared to KSh3.56 billion in 2022. According to the Sacco’s…

PS urges miners to form cooperative societies

Sacco ReviewApril 19, 2024April 19, 202405 mins

The Government has launched campaign to mobilise persons who undertake Artisanal and Small-Scale Mining (ASM) and Large-Scale Mining (LSM), to form Saccos aimed at ensuring earnings from the economically potential sector are prudently utilised. Formation of the Saccos, the Government hopes will ensure that miners especially artisanal and small-scale save portion of their income and…

Report shows an acre of land in Nairobi suburbs hit record high of KSh203 million

Sacco ReviewApril 19, 202402 mins

Land prices in Nairobi’s suburbs defied tough economy to increase by 1.3 per cent per acre on average in the first quarter of 2024, shows HassConsult’s latest land price index. According to the report, average price per acre in the satellite estates now is KSh203.7 million, surpassing the KSh200 million mark for the recorded in…