Category: Co-op News
George Ototo, KUSCCO CEO.
Kenya bags Sacco member growth award
By Staff Reporter Due to its nonpareil promotion for the growth of cooperative societies, Kenya has earned a global accolade for particularly welcoming close to one million members in a spun of one year. In a virtual annual general meeting, World Council of Credit Unions (Woccu) delegates voted Kenya as an exceptional member that saw…
Patrick Nyaga, New CEO CIC Insurance Group.
CIC Group pays Sh. 32 million to Amica Sacco despite Covid-19 challenges
CIC Group, a leading cooperatives insurer in Africa, has settled a Sh. 32 million fire insurance claim in favour of Amica Sacco. The claim arose from a fire incident in which a building owned by the Muranga-based Sacco was reduced to ashes in October 2019. Following the claims settlement, the building that also housed Mathai…
Dr. Gideon Muriuki, Cooperative Bank Group CEO.
Jamii Bora to get a boost from Co-op Bank after buyout
By Staff Reporter Co-op Bank is set to pump more resources to the staggering Jamii Bora Bank as soon as it completes purchasing a controlling 90% stake in the small lender at a cost of Sh. 1 billion. While responding to questions raised by the bank’s significant stakeholders Shorecup II, Conerstone, private equity firm catalyst…
Mr Geoffrey Njang'ombe, Senior Deputy Commissioner, State Department for Cooperatives during the past event.
Full in-tray for new Commissioner for Co-operatives Njang’ombe
By Our Reporter The acting Commissioner for Co-operative Development Geoffrey Njang’ombe is facing a full-in tray for the sector, with little time to settle given the disruption caused to the economy by coronavirus pandemic. Mr Njang’ombe took over from Didacus Ityeng who served briefly in acting capacity following the exit of Mary Mungai in April…
Cooperatives run on half budgets as Covid-19 halt meetings
By Sammy Chivanga Cooperative Societies have been given a special window to start spending part of their unapproved budgets in the wake of the Covid-19 pandemic that has made it impossible to hold annual general meetings. The acting commissioner for Cooperatives Geoffrey Njang’ombe has written to all cooperative societies allowing them to spend up to…
Is expanded membership becoming burden for Saccos?
By Sammy Chivanga The coronavirus pandemic has reinforced the need for Savings and Credit Co-operative Organisations (Saccos) to diversify membership in order to reduce existential risk. Kenyan economy continues to run into headwinds of Covid-19 since the first case was reported in the country on March 13, triggering job losses and salary cuts whose impact…
Covid-19: Ushirika Day fete called off
By Our Reporter Co-operatives societies will have to wait until next year to hold Ushirika Day celebrations as the rising cases of Covid-19 forced organizers to call off the event. The event, part of the United Nations’ (UN) International Day of Co-operatives, was set for July 4, 2020, but the continued state ban on large…
Bungoma County Government urge farmers to join Saccos
Bungoma County Government is set to revive the dormant co-operative societies in the region. Stella Mutsotso, the Chief Officer in charge of Co-operatives urged farmers to join co-operative societies in order to empower themselves economically. “If our farmers join co-operative societies, they will get better returns of their agricultural produce based on their bargaining power….
Stima sacco appoints Gamaliel Hassan as acting CEO
By Staff Reporter Following the expiry of Mr. Chris Useki’s tenure as the managing director of Stima Sacco, the board has resorted to appointing Mr. Gamaliel Hassan as the acting Chief Executive Officer. Mr. Useki took over the helm of the Sacco in October 2016 as the acting chief executive officer after the resignation of…
Trials and tribulations of Urithi Sacco
By James Wakahiu Real estate developer, Urithi Housing Cooperative Society has dispelled fears that the Multibillion Organization is financially impotent but admits that business has significantly degenerated as a result of the Covid-19 pandemic. Urithi Housing Cooperative Chairman Samuel Maina confirmed that the company is still on course to deliver pending projects to its members…
