Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Titus Murithi Co-operative stakeholders have asked the National Government to put aside proposals affecting Saccos in the current finance bill. Tirus Nyaga , Southern Star Sacco Chairman, said the proposal requiring any bank transfer of Sh500, 000 and above to attract excise duty of 0.05 per cent amounted to double taxation. “The proposal is not…
By Kiptanui Rutto Chogoria Ward Member of County Assembly, Margaret Gitari has called on co-operative societies in the region to add value to the farmers’ produce. She said the societies should be a bridge between the farmers and the consumers. Speaking during the launch of Ndosha Light Industrial Park supported by Ndosha Sacco at Wiru…
By John Majau Trans-Nation, one of the fastest growing Saccos has kicked off elaborate plans to start agency banking in a move meant to capture a greater market share within Tharaka Nithi, Meru, Kitui and Isiolo counties. Trans-Nation Sacco Chief Executive Officer, Ransam Mugambi Nthiga said plans to turn the organisation into a banking agency…
By John Majau Jamii Bora Bank and Capital Sacco have partnered in a bid to provide affordable housing for its members. The two financial institutions signed a Memorandum of Understanding in Meru town recently. During the initial stages the two institutions will target 10,000 members of the Sacco with the feasibility study focusing on the…
By Kamundia Muriithi Residents of Embu County fear losing their money to a savings and credit cooperative organization they had invested in. The society allegedly promised them that they could get loans of up to 10 times their savings and at eight percent interest rate per annum once they joined it. The Sacco started operations…
By John Majau The Meru County Government in partnership with the Co-operative Bank has introduced a new payment model for coffee farmers which is meant to speed up the payment of cherry once it is delivered to the factory. The new format dubbed the “coffee-cash model” will reduce the lengthy waiting periods farmers undergo before…
By Kamundia Muriithi A co-operative that was started by Jua Kali artisans and small scale traders in Runyenjes town of Embu County now plans to start offering Front Office Sacco Activities (FOSA) to meet increasing needs of its members. Started 10 years ago with an initial share capital of Sh237,000, the Focus Sacco Society has…
By Makoma Musyoka A ward representative has pledged to audit all the coffee societies in Machakos County with a view of reviving the sector which has been run down through mismanagement over years. Speaking to hundreds of farmers at Kilalani Coffee Farmers Co-operative Society in Kangundo Sub-county during this year’s Annual General Meeting (AGM), Kangundo…
By Kamundia Muriithi Nawiri Sacco Society Limited has unveiled an array of innovative products and services meant to promote the financial wellbeing of members. The Sacco has several products targeting the youth to enable them save and access affordable loans. It also has several technologically driven services. The Sacco which is headquartered in Embu town…
By John Majau For a long time in the past, farmers in Meru wholeheartedly engaged themselves in planting and harvesting of potatoes without even the slightest clue of the specific market they intended to sell their produce to. Many would be forgiven for thinking that farmers originally cultivated the crop for the sole purpose of…
