Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
By Agnes Orang’o Komarock Housing Cooperative Society members have been urged to avoid unnecessary land sales and instead invest on the lands to secure their future. Speaking to members during one of the society’s meetings, the society’s chairman Bernard Maembe expressed concern over the increased land sales. “Most of you inherited your land from your…
By Roy Hezron A total of Ksh428.4 million will be injected into the country’s coffee cooperatives towards strengthening governance and capacity in the next four years as part of the National Coffee Revitalization Project (NCRP). The entire project, however, will approximately cost the government a total of Ksh21.3 billion for the four year period earmarked…
By Azael Masese Cooperatives and Micro, Small and Medium Enterprises (MSMEs) Cabinet Secretary Simon Chelugui has underscored the role of New Kenya Cooperative Creameries(New KCC) in supporting Kenya’s cooperative movement. Speaking during a recent visit and tour of the processor’s Dandora plant, Chelugui disclosed that since 2016, the government had pumped Ksh 2 billion into…
