Category: Co-op News
Kericho County Commissioner of Cooperatives Leonard Otii.
Defaulters on Sacco loans accused of denying others chance to borrow
Kericho County Commissioner of Cooperatives Dr Leonard Otii has said defaulters on loans and those who delay repayments are denying other members a chance to use the same facility. Speaking during Simba Chai Sacco’s Annual Delegates Meeting (ADM), Otii was concerned about the high rates of delinquency witnessed in some societies, which he cautioned the…
Saccos vs money market funds: Which gives the best return?
Money Market Funds (MMFs) and Savings and Credit Cooperative Organizations (SACCOs) are both money-saving instruments that have gained popularity in the country. And they both promise one thing — to make your money work for you. The two work in different ways therefore understanding their unique features before making a choice is vital. What are…
Central Bank of Kenya.
CBK survey shows food prices decline in March, increased access to subsidized fertiliser
There has been a general reduction in prices of key food items last month compared to February. This is according to Central Bank of Kenya (CBK) Agriculture Sector Survey findings. The survey conducted from March 11 to 15, 2024 was aimed at identifying market expectations and recent trends on prices of key commodities and output…
Institute of Public Finance CEO James Muraguri
Health, security set to receive largest budget increase
Health, national security, Public administration and international relations sectors are set to receive the huge budget increases in the next Financial Year 2024/25. According to Institute of Public Finance (IPF), the increase in allocation will be necessitated by States’ needs preferences and the budget increase which is expected to grow by four per cent to…
Deputy President Rigathi Gachagua addresses Embu residents today.
State keen on fulfilling affordable housing promise, DP Gachagua says
Deputy President Rigathi Gachagua has said that the Government is committed to ensure the success of the affordable housing programme. He said the programme is enabling youth earn their daily bread and has also assisted in reducing cases of alcoholism and drug abuse. “The President is very clear on his intention which is for the…
Kajiado Governor Joseph Ole Lenku
Kajiado County inspectorate officers will not use excessive force, assures Governor Lenku
Kajiado County Governor Joseph Ole Lenku has said there will be no excessive force and harassment of business people by county inspectorate officers. This is after he graced the pass out of two hundred inspectorate officers who had undergone a rigorous training at Kasarani Stadium which is managed by Sports Kenya. They were trained on…
Private Security Regulatory Authority Director General Fazul Mahamed.
Private security firms ordered to stop monthly remittances to COTU
The Private Security Regulatory Authority (PSRA) has ordered all security firms to immediately stop remitting union contributions to the Central Organization of Trade Unions (COTU). In a letter dated April 15, PSRA Director General Fazul Mahamed said for years, private security have consistently deducted trade union fees from the private security guards and subsequently remitted…
Dorcas Ndegwa Nyambura
When all said and done, Saccos have to make profits
Over time, Saccos are increasingly popular as a means of accessing financial services in the country. They are member-based entities which run on the principle of bringing resources together before providing affordable credit. Like other financial institutions that include microfinance, commercial banks and mobile lenders, they work day and night towards maximizing profit. Saccos have…
For close to a year, Sacco Societies Regulatory Authority (SASRA) board has been taking shape, starting with the appointment of Jack Ranguma, the former governor of Kisumu County.
SASRA board has its hands full as real work begins
For close to a year, Sacco Societies Regulatory Authority (SASRA) board has been taking shape, starting with the appointment of Jack Ranguma, the former governor of Kisumu County, as the chairperson on February 6, 2023. There have been other new faces too. For instance, Freda Moraa, a former legal advisor in the Office of the…
Imarika CEO George Yongo addressing delegates.
Imarika DT Sacco assets base hits all time high of KSh13 billion
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…
