Higher income, reduced expenses spur Co-op Bank profit to hit Sh16.5 billion

By Bernard Matumbai Co-operative Bank of Kenya’s net income jumped by 53 percent to a record Sh16.5 billion in the year ended December 2021 from Sh10.8 billion in the previous term, something that was attributable to higher interest income, investment in government and reduced expenses. The bank recorded a 59 percent surge in pre-tax profit…

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Co-operative leaders meeting to discuss Co-operative Bill implementation regulations

By Roy Hezron Co-operative leaders countrywide will be meeting at Amboseli National Park’s Oltukai Lodge for a four day meeting to review and discuss the implementation of regulations for the National Co-operative Bill 2021 in an occasion that will be graced by the Cabinet Secretary for Agriculture, livestock, Fisheries and Co-operatives Hon. Peter Munya. The…

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Nine cooperative societies receive Sh3 million incubators, backup generators

By Enock Kipturgut The County Government of Baringo has launched incubators and backup generators worth Shs 3 million to benefit nine co-operative societies drawn from Kabarnet Ward.  The move is aimed at enhancing poultry production. One incubator accommodates 1056 eggs per hatchery. The benefitting cooperative societies include Soramoi, Kimoso, Seguton, Kiboino, Kapchepterit, Kokwomoi, Kaperterot, Jekame…

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How Mburia has changed the cooperative sector landscape

In his lifetime, Symon Mburia has taken a leading role in transforming the co-operative movement in the country. He has taken part in drafting and formulating major polices governing the co-operative movement, and also ensuring that the co-operative movement is managed professionally through his leadership in the newly formed Kenya Society of Professional Co-operators (KSPC)…

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SACCO

SASRA forms Fraud Investigation Unit to quell theft in Saccos

By Roy Hezron The Sacco Societies Regulatory Authority (SASRA) has set up the Sacco Societies Fraud Investigation Unit (SSFIU) through a recent Memorandum of Understanding (MOU) which was signed with the Directorate of Criminal Investigations (DCI) to formalize its establishment. According to the Authority’s Chairperson Mr. John Munuve, the establishment and operationalization of the Unit…

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