Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Sacco Review Reporter The Sacco Societies Regulatory Authority (Sasra) has urged Saccos to reconcile ‘other assets’ in their books of accounts to ensure there is transparency as the absence of the other assets in their financial statements is a possible conduit of fraudulent activities. “The Authority calls upon the Non-Withdrawable Deposit Taking (NWDT) Saccos…
By Achola Mathews Bungoma County Saccos have been urged to fast track the implementation and use of digital infrastructure by accepting to be hosted by Kibabii University Cooperative Society (KUCS), which has procured a large platform. Addressing officials and members drawn from various Societies from Bungoma South Sub-county at Posta grounds during the international Cooperatives…
By John Majau The miraa sub-sector has shown signs of recovery from the two-year ban in Somalia, signalled by the increased deposits farmers make at Saccos and other banking institutions. According to Mr Titus Munjuri, Dhabiti Savings and Credit Cooperative Society’s chief executive, farmers’ deposits had risen by about 15 per cent over the past…
By Agnes Orang’o Kamulu Housing Cooperative Society Chairman Augustine Nzioka Mutuku has passed on. Nzioka famously known as Penny died on Friday, 2nd September after a short illness. He had served as Chair for over ten years. Friends described him as a charming and optimistic man who did not hesitate to fight for the rights of the…
By Agnes Orang’o Two suspected thieves have been killed by an irate mob in Mitaboni, Kathiani sub county of Machakos county. The two were among 13 suspected thieves who broke into Kithima Farmers Co-operative Society in a bid to steal coffee. According to witnesses, the gang armed with crude weapons raided the factory and tied…
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 Ben Oroko The liberalization of the coffee sub-sector in the country continues posing a serious sustainability threat to the primary coffee co-operative societies across the country, following smallholder farmers hawking their coffee beans to middle-men and dealers instead of delivering the same to their primary co-operative societies. What started as a bubble in the cup of coffee turned…
By Fredrick Odiero Keystone DT Sacco formerly KITE Sacco has officially launched its new name setting the stage for major expansion. Sacco Board Chairman, Esau Ogada said the rebranding was geared towards expansion and improving the financial base of the institution. He described the rebranding which was established in 1977 as a major milestone towards…
In the Sacco Review newspaper page 14, we referred to Pauline Mwaniki, CEO of Winas Sacco as KETSA CEO Forum Chairperson which is erroneous. The correct position is that Ms Joyce Ndegwa is actually the KETSA CEO Forum boss. We wish to sincerely apologize for the mix-up. By Obegi Malack obegimalack@gmail.com Kenya Teachers Sacco Association…
By Azael Masese A new Sacco Supervision Report, 2021 indicates that the Sacco sub-sector’s total assets grew by 9.93 per cent in 2021 to reach Ksh807.11 billion from Ksh734.22 billion recorded in 2020. During the period under review, total deposits grew by 9.80 per cent in 2021 to reach Ksh564.89 billion compared to Ksh514.46 billion…
