Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Some women’s groups from across Kitui County have benefitted from water tanks, catering equipment, motorcycles, tents, and chairs worth millions of shillings, donated by the Kitui County Women’s Representative, Dr. Irene Muthoni Kasalu. The donation ceremony took place recently at Kauwi Primary School in Kitui West District within Kitui County. The Makueni County Women’s Representative,…
Financial communication, which refers to the process of disseminating financial information to stakeholders such as investors, analysts, and the general public, is increasingly becoming an important aspect in the corporate world. It encompasses a wide range of activities, including the preparation and release of financial statements, investor relations, and financial reporting. It is important to…
The Ministry of Cooperatives and Micro, Small, and Medium Enterprises (MSME) Development has cautioned SACCOs against paying unrealistic bonuses, dividends, and interest, as such cash outflows could cause liquidity challenges if not properly managed. Through a circular sent to SACCOs by the State Department of Cooperatives, the Office of Commissioner David Obonyo stated that the…
The primary purpose of a Sacco is to serve the community in which it operates. This is based on the understanding that co-operatives are not-for-profit enterprises, as the majority of the profit goes toward fulfilling the social, economic, and cultural needs of the community in which they operate. It is obvious that when a co-operative…
The County Government of Nakuru has rolled out a program to digitize the business models of Savings and Credit Cooperative Organizations (SACCOs) to make their operations more efficient and transparent. County Cooperatives Chief Officer Kibet Kurgat said the County had initiated a training program for Sacco officials on the digitization of their operations, aimed at…
Kajiado County Governor, Joseph ole Lenku, has condoled with the families of Obomo Sacco, a savings and credit cooperative that was founded by Mzee Zablon Nyakeruma who passed on last week. Governor Lenku said Mzee Nyakeruma was not just a pioneer but a visionary leader who left an indelible mark in Kajiado County. He said…
Yetu Sacco has set aside a mouthwatering operational budget of Sh 1.4 billion for it next financial year. The board of management came up with the historical 2025 operational budget which is slightly higher than the previous year that had hit a billion mark for the first time since its inception. The budget estimates were…
The government is planning to finalize the Cooperatives Bill that will enhance governance and legal collaboration between the national and county governments. The ministry is relooking at the Sacco Societies Act to be amend and establish a central liquidity facility and shared services platform to streamline the financial services. According to the CS Oparanya, Saccos…
In a momentous celebration of academic excellence, Hon. FCPA Wycliffe Ambetsa Oparanya, EGH, Cabinet Secretary for the Ministry of Cooperatives and Micro Small and Medium Enterprises Development, has been awarded an honorary Doctor of Humane Letters (Honoris Causa) by Masinde Muliro University of Science and Technology. The conferment will take place on December 11, 2024,…
The Departmental Committee on Trade, Industry, and Cooperatives has finalized its review of a report on the input of the public on the Business Laws (Amendment) Bill, 2024. The Committee, chaired by Embakasi North MP James Gakuya examined the report a day after concluding a three-day public participation exercise. The Bill, sponsored by Majority Leader…
