Category: Co-op News
Imarika Foundation launches scholarships for TVET students
By Tsozungu Kombe Imarika Foundation, an Organization of Imarika Sacco Limited in Kilifi County, has awarded scholarships to students in Technical and Vocational Training Colleges in a Pilot program meant to enable them pursue technical education training in the country. The scholarship will cater for students’ fees for a year. Speaking during the official launch…
Kakamega hawkers register Sacco to build financial base
By Hilda Atika Hawkers in Kakamega town have a reason to smile after acquiring a certificate of operation as a registered Sacco with the Ministry of Co-operatives. Shieywe Ward Member of County Assembly Hon. Job Mwamto who spearheaded the registration handed over the certificate to the hawkers in the name of Kakamega Mali Mali Hawkers…
Pioneer founders of Kenya’s Sacco movement speaks
Michael Ngétuk is proud to associate with Imarisha Savings and credit cooperative society (Sacco) as the longest serving director of Imarisha Sacco with a record of 32 continuous years from a founding treasurer to Vice-Chairman. He shares his long Journey at the Sacco with Benedict Ng’etich “It was in 1977, after KNUT AGM when an…
Making housing schemes affordable, gov’t urged
By Kamundia Muriithi Owning a home is a dream that many Kenyans harbour, but few actualise it due to the associated high costs of constructing houses. In recent times, housing cooperatives have sprung up in different parts of the country to empower ambitious Kenyans acquire decent, modern houses through homeownership plans. Coupled with the government’s…
Not all Sacco contributions are shares
By Fred Sitati The treatment of member’s shares in Saccos has remained both contentious and emotive because of limited understanding of how members’ shares should be treated upon cessation of membership. That not only confuses ordinary members but also some of their leaders including those engaged in Sacco education and training. It will be recalled…
Trans Elite Sacco once beset by graft bounces back
By Isaac Biwott The Trans Elite County Teacher’s Savings and Credit Cooperative Society in Nandi County is back to its former glory after settling an off-shore loan owed to Oikocredit International. The International micro-finance company of the Netherlands had been approached by the then Nandi teachers Sacco seeking a loan of Sh65 million in a…
Tom Obengo: Political thug yesterday, Matatu Sacco director today
Fredrick Odiero He served in various capacities as one of the dreaded youths and party operative for many years. Some of the roles he undertook included gathering intelligence information as an advance team before feeding proponents with the same information before they could finally strike at enemy positions. But Tom Obengo who is today a…
Trans Elite Sacco once beset by graft bounces back
By Isaac Biwott The Trans Elite County Teacher’s Savings and Credit Cooperative Society in Nandi County is back to its former glory after settling an off-shore loan owed to Oikocredit International. The International micro-finance company of the Netherlands had been approached by the then Nandi teachers Sacco seeking a loan of Sh65 million in a…
Sacco Loan Book Grows Fastest in Four Years on Covid-19 Hardships
By Sammy Chivanga Savings and Credit Cooperative Organizations (Saccos) members tapped Sh54.19 billion additional loans last year on the back of coronavirus disruptions that hurt incomes for households. The new credit saw the loan book of Deposit-Taking (DT) Saccos rise by 13.41 percent to Sh473.74 billion from Sh419.55 billion, being the fastest jump in four…
Sacco Loan Book Grows Fastest in Four Years on Covid-19 Hardships
By Sammy Chivanga Savings and Credit Cooperative Organizations (Saccos) members tapped Sh54.19 billion additional loans last year on the back of coronavirus disruptions that hurt incomes for households. The new credit saw the loan book of Deposit-Taking (DT) Saccos rise by 13.41 percent to Sh473.74 billion from Sh419.55 billion, being the fastest jump in four…
