Category: Co-op News
Joe Nyagah, man behind cooperative growth
By Roy Hezron Joseph ‘Joe’ Nyagah, a former minister and presidential candidate left behind a remarkable history of championing the co-operative movement before his demise on 11th December 2020 at Nairobi hospital. Nyagah, alumnae of Alliance High School and the University of Nairobi, was appointed the Minister for Co-operative Development during the Grand-Coalition Government formed…
Co-op Bank gives Metrotrans Sacco 45 new buses
Press Release On 4th November 2020, Metrotrans Sacco, one of the leading PSV transport Saccos operating in Nairobi received 45 new buses at Isuzu East Africa with financing from Co-op Bank in form of a lease worth Kes 225 Million. The lease will enable the Sacco to respond to increased demand in their existing routes,…
Curtain falls on Tower Sacco Vice-Chair
By Roy Hezron Tower Sacco Board’s Vice-Chair Mr. Benson Chege Ruhang’a has passed on. It is reported that Mr. Chege passed on while undergoing treatment at Nakuru War Memorial Hospital. Until his death on 1st November 2020, Chege doubled up as Vice-Chair and head teacher at Gituru Primary School in Naivasha. With 42 years of…
Hazina Sacco Vice Chair named new KNBS Director General
By Staff Reporter Hazina Sacco Board’s Vice Chair Macdonald George Obudho has been appointed new Director General Kenya National Bureau of Statistics (KNBS). Macdonald George Obudho who takes over from Zachary Mwangi is set to lead KNBS for a period of 8 years. Obudho joined KNBS in 1995 and rose through the ranks from Statistician…
Cooperative Tribunal suspends operations for 7 days
By Staff Reporter Operations at the Cooperative Tribunal Registry in Nairobi have been suspended for seven days after one of the staff tested positive for the Covid-19. In a memo dated 1st November 2020 and signed by the Chairperson of the tribunal Hon. Beatrice Kimemia to the public and advocates, the operations in the registry…
Saccos open dividend advances window as Covid-19 bites
By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) have started issuing dividend advances to their members amid Covid-19 disruption that has resulted in a cash crunch for families and businesses. The payouts come with three months left before the end of financial year and are expected to offer the much-needed liquidity boost to Sacco…
World Co-operatives Congress Day postponed
By Roy Hezron The 33rd World Cooperative Congress Day celebrations, which were to be held next month in South Korea, have been postponed due to the Covid-19 pandemic. The congress, which brings together all co-operative movements affiliated to the InternationalCooperative Alliance(ICA), has been re-scheduled to December next year. Seoul will still host the celebrations. The…
Sacco leaders react to regulator’s call for mergers
By Simon Njane Savings and Credit Cooperative Societies (Saccos) leaders are expressing mixed reactions to the regulator’s call for mergers as deposits get skewed towards large entities. While leaders of various Saccos support the proposal by the Sacco Societies Regulatory Authority (Sasra) that Saccos should consider merging to avoid collapsing, they are calling for caution….
Jamii Sacco unveils strong measures to boost business
The Sacco has restructured its operations, developing new products and bettered its digital platforms. By Ken Ondieki Jamii Sacco has remained resilient in the face of Covid-19 pandemic that has adversely affected the country’s social and economic status. The Deposit-Taking Sacco, has reviewed its business plan for the financial year 2020, scaled down on areas…
Saccos report high liquidity even as Covid-19 strikes
By Sammy Chivanga When Covid-19 struck, it was expected that many Savings and Credit Cooperative Societies (Saccos) would face their biggest liquidity test. And as an increased number of Sacco members applied for consumption loans, Sacco leaders such as the Kenya Union of Savings and Credit Co-operatives Ltd (Kuscco) called for caution. But in a…