Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Agnes Orang’o Members of Muka Mukuu Farmers’ Cooperative Society in Matungulu can now heave a sigh of relief after the disputes surrounding quarrying activities on their land were resolved. Speaking after a special general meeting, the chairman Dominic Nthwao said that quarrying will take place at their 750-acre land near Athi River. He noted…
By Asa Maina Unison Sacco has introduced the Golden Plan, a retirement saving plan that will see members save a minimum of Shs 200 monthly, withdrawable upon retirement. The Sacco’s chairman James Muhandi revealed that upon retirement, the depositor will determine whether to receive the money as a lump sum amount or in monthly installments….
By Kage Njoroge Kenyans have been advised to embrace a saving culture to enable them get adequate funds for sustainable investments. Speaking during the reopening of the refurbished Kirwara branch of Amica Sacco, Bishop James Wainaina of Murang’a Catholic Diocese said the best formula for ordinary people to tackle poverty is to save and invest…
By Bernard Boy Airports Sacco Society rode on Kenya’s relatively improved economic performance post-pandemic to remarkably register all-round growth in its key performance indicators in the year ended December 31, 2021. With its asset base, total deposits, share capital, net loan portfolio and total revenue growing by between 4.3 and 19.8 percent (not in that…
By Azael Masese Stima Deposit Taking (DT) Sacco exhibits all the attributes and performance indicators of a successful institution. Ranked the second wealthiest Society by the Sacco Societies Regulatory Authority (SASRA), their end year performances have remained mouth-watering. As of 31st December 2021, the Society’s asset base, turnover, loan book and balance sheet had grown by…
By Sammy Chivanga The Sacco Societies Regulatory Authority (Sasra) is facing increased budgetary strain as the number of Saccos under its regulation more than doubles. Sasra requires more money to strengthen its oversight capabilities given that Saccos under its mandate have increased after it started regulating non-withdrawable deposit taking Saccos with deposits of at least…
By Azael Masese Savings and Credit Cooperative Societies (Saccos) across the country are set to witness drastic changes in their management following plans by Sacco Society Regulatory Authority (SASRA) to engage top industry players in formulation of regulations that affect Sacco operations. This is a shift from the past where societies were expected to enforce…
At 56 per cent growth in pre-tax profit, nothing seems to be stopping top tier lender’s exploits By Matumbai Bernard-Boy The Co-operative Bank of Kenya has maintained its upward trajectory, recording a 56 per cent before tax growth in the first quarter of 2022 as compared to the same period last year. In a statement dated Thursday,…
By Fred Sitati One basic characteristic that distinguishes companies from cooperatives is that companies are associations of capital while cooperatives are associations of persons. Additionally, while companies strive to maximize profits for their shareholders, the same cannot be said of primary cooperatives that are voluntary self-help organizations that aim to solve members’ socio-economic and cultural…
By Kamundia Muriithi Universal Traders Sacco (UTS) held its annual members education day in Embu County recently where facilitators shared crucial information for the vibrant growth of the cooperative sub-sector. More than 600 members including businesspeople, farmers, boda boda riders, jua kali artisans and salaried people, among others, attended the eye-opening session. Among those present…
