Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Kamau Njoroge Coffee farmers from Gatundu North in Kiambu County have hailed president William Ruto for promising to reduce the price of fertilizers by half. The farmers, led by John Kaguchia, said they are optimistic that through cheaper fertilizers, their production will increase and in turn translate to higher returns. “We are glad that…
By John Majau Milk production in the Mt Kenya region has dropped by about 40 per cent due to drought even as dairy farmers complain about high costs of production. Farmers called for subsidies on animal feeds to be introduced, though President William Ruto’s new administration insisted that subsidies were unsustainable, scrapping the one on…
By Felix Wanderi Real Estate Finsco Africa and the National Co-operative Housing Union (NACHU) held a mega housing drive dubbed Riverline Ridges Open Day Activation in Ruiru with over 1,000 customers in attendance. Riverline Ridges project was launched last year on a 423 acre piece of land in Ruiru and it will enable Kenyans purchase…
By Azael Masese Co-operative Bank of Kenya is the most preferred commercial bank Saccos turn to for operational efficiency and customer convenience. Consequently, Co-operative Bank generates more income by partnering with Saccos compared to other commercial banks; and the reverse is true. According to the Sacco Supervision Annual Report, 2021, partnership areas include Automated Teller…
By Azael Masese The negative cash accumulation among Deposit Taking (DT) Saccos continued to rise unabated to reach a high of Ksh. 48 billion in 2021. Though some players turned to retained earnings to bridge the deficit, some turned to external borrowing with SACCO Societies Regulatory Authority (SASRA) warning that they were subjecting themselves to…
By Azael Masese Saccos defied a tough business environment posed by Covid-19 to report growth in three market portfolios; asset base, deposits and loan portfolios in the 2020/2021 Financial Year (FY). The finding was revealed in the Sacco Supervision Annual Report, 2021, released on August 3, 2022. SASRA Board chairman George Murathe said the growth…
By John Majau The Gankumbu Dairy Farmers Group in Tharaka Nithi County has received a donation of 1,000 packets of free semen, a milk ATM machine and milking cans from the Ministry of Agriculture. Delivering the items to 2,500 farmers in Chuka town recently, Agriculture Cabinet Secretary Peter Munya’s personal assistant Kofia Kaunani said the…
By John Majau Avocado farmers across the country have been urged to harvest mature fruits in order to boost the product’s international market. Addressing farmers at Kaguru in Imenti South, the Avocado Society of Kenya CEO Earnest Muthomi said the Kenyan avocado market has greatly been affected by low quality produce caused by premature harvest….
By Azael Masese Former President Uhuru Kenyatta has asked Saccos to be a major player in the country’s domestic debt market; raising a raft of concerns in the sector should it take up this lending position. The president’s proposal comes at a time when the government is burdened with foreign debts with a large chunk…
By Staff Reporter The Sacco Societies Regulatory Authority (SASRA) withdrew the licenses of four deposit-taking Saccos by close of December 2021. Effectively, the four are barred from conducting deposit-taking business in 2022. Affected Saccos are Nyamira Tea Sacco Society Ltd, Uchongaji Sacco Society Ltd, Nanyuki Equator Sacco Society Ltd and Comoco Sacco Society Ltd. SASRA…
