Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
By Allan Kibet and David Kipkorir The Co-operative movement in Kenya on Thursday, May 19, launched a three day blood donation drive, an annual initiative in preparation for International Co-operatives Day that takes place on every July 2. The co-operative movement spearheaded by the organizers of the event, Ushirika Organizing Council, is targeting over 1,000…
By Benedict Ng’etich The Kenya Plantations and Agricultural Workers Union (KPAWU) has urged the tea Multinationals in Kericho to increase the amount of funds allocated for scholarships. Secretary for Kericho Branch Dickson Sang lauded the efforts by James Finlay to offer scholarship to employees’ children, but implored them to increase allocations to cover many families….
By Benedict Ng’etich A total of 9,582 small holder coffee farmers under Kipkelion District Co-operative Union Ltd (KDCU) have received cheques worth Shs. 105.1 million for the sale of 134.4 metric tonnes of coffee exported to South Korea a month ago. Out of the direct sales, the farmers drawn from Kericho, Nandi, and Bomet counties…
By Pascal Mwandambo “Mwalimu,” he said, “I am thinking of starting a small business and probably venture into the gemstone trade.” I looked at him skeptically, wondering what serious business one can undertake with slightly less than 100,000 shillings. “You don’t understand. I will start with some gemstone samples I will buy from a broker…
