Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Peter Otuoro Patrick Thogo was elected the new Director of Tower Sacco in a competitive election carried out at Olkalou Primary School in Nyandarua County. Thogo got 222 votes against his close competitor James Mwangi who got 219 votes. He thanked everyone who voted for him and congratulated and thanked his competitor for serving…
By Vostine Ratemo Farmers have opposed the move by the state to privatise milk processor New Kenya Co- Operative Creameries (New KCC), warning that the plans will be a burden to them. In the year 2019, the government suspended plans to privatise the New KCC, being apprehensive about leaving the key dairy sector completely in…
By Felix Wanderi Nyeri Governor Mutahi Kahiga has called on Newfortis sacco members to protect the sacco from political interference. Mutahi speaking at Nyamachaki primary school grounds during the Newfortis sacco 47th annual general meeting said that those interested in politics should quit the sacco and enter the political arena so that they can square…
By Our Reporter Mwalimu National Sacco have lost an appeal seeking quashing of sh 44.9 million tax demand by government. The High Court Justice David Majanja dismissed the petition detailing that an appellate court dealing with matters of law cannot engage in a factual exercise as it will be usurping the powers of the tax…
By Obegi Malack The National government has agreed to re-introduce the cooperative bill which was rejected by last parliament. Cooperatives and micro, small and medium enterprise cabinet secretary Simon Chelugui said they are committed to reintroduce the bill after a meeting with the council of Governors in Mombasa. Bungoma Governor Kenneth Lusaka who is also…
By John Majau Kenyans have continued to borrow from the Hustler Fund, with more than Ksh15.9 billion being disbursed by yesterday. Cooperatives and Micro and Small Enterprises Cabinet Secretary (CS) Simon Chelugui said more than 18.4 million Kenyans have subscribed to the fund while over Ksh 7.7 billion has already been repaid. The CS said 5.6…
By George Otieno Cooperative Commissioner David Obonyo has called for a paradigm shift on how Saccos conduct their businesses, warning that relying on the check off system is no longer tenable. Most Saccos, Obonyo stated, were employee based Saccos that depended on a check off at the end of the month to give loans that…
By Tsozungu Kombe Kenya Teachers Sacco Association (KETSA) is set to change name to become a Federation after a pending Bill in Parliament has been approved. Speaking during KETSA Annual Delegates Meeting (ADM) held at Flamingo Beach Resort in Mombasa County recently, KETSA national chairman Robert Njue said that a pending bill is awaiting approval in parliament…
By Our ReporterMembers of B -Smart Sacco Limited are demanding to be refunded their savings after the Saccoreportedly failed to issue them with loans and blocking them from withdrawing their savings.The shareholders said the Sacco has not been giving them loans for two years now and hasdeclined to give them back their savings.The members who…
By George Otieno All Cooperatives will in future become federations and subscribe to an apex body, group managing director of the Kenya Union of Savings and Credit Cooperatives (KUSCCO) George Ototo has hinted. A restructured Cooperative sector will ensure sustainability and viability as it will solely depend on the subscription of the cooperative members. Ototo…
