Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Kamundia Muriithi. Winas Sacco plans to go big on agency banking in a bid to decongest its banking halls and deliver efficient services to its members. Robert Njue, the Chairman of the Board of Directors revealed that plans were in high gear to launch WINAS Mashinani, which will ensure the Sacco has agents in…
By Jackson Okoth. Harambee Sacco Society Ltd posted a decline in net surplus for the financial year ended December 31, 2016 to Sh100 million from Sh106.7 million in 2015. Interest on loans and advances rose from Sh1.5 billion to Sh1.6 billion while net interest income fell from Sh570.8 million in 2015 to Sh310.7 million in…
By Jackson Okoth. The National Treasury is seeking to allow all Co-operative societies to issue Shariah-compliant products, opening up yet another frontline where competition between these societies will be intense. On the list of Saccos that are already Sharia-compliant are Crescent Takaful Sacco Society Limited andTaqwa Sacco Society Limited. Takaful Sacco offers mobile payments, international…
By Murithi Kinoti. Centenary Sacco seeks to go big on agency banking as it expands its reach in the region and beyond. The Sacco also plans to open a satellite office at Marimanti Market in Tharaka-Nithi County with an aim of bringing financial services closer to existing members in that region as well as tap…
By Our Reporter. The County government is sponsoring training of more than 2,100 Boda boda riders across the county to acquire motorcycle driving licenses as well as formation of Saccos to promote their investment capacity. It has also launched Embu Women Sacco which will offer financial loans to members at reduced interest rates. In order…
By Joseph Mukubwa. Biashara Sacco Society, located in Nyeri County is targeting students through its Corporate Social Responsibility (CSR) programmes this year. This is through its school feeding programme, which was recently launched at the DEB Nyeri Primary School in Nyeri town. The Sacco has already spent some Sh200,000 on the initiative where over 500…
By Azael Masese. Tower Sacco Society Ltd will open a new branch in Nakuru town this year as it embarks on an ambitious growth strategy. The new branch will be located near Gilani’s Supermarket and next to Ecobank, bringing the Sacco’s branch network to ten. During the Sacco’s 41th Annual General Meeting (AGM), outgoing Board…
By Tsozungu Kombe. Sacco members have been urged to repay loans in good time to enable societies to boost their capital. Speaking during Mafanikio Sacco Annual General Meeting (AGM) held at Baptist High School Hall in Mombasa town recently, KUSCCO Director in charge of Coast and North Eastern Regions, Alfred Mlolwa warned that defaulting will…
Mafanikio Sacco, formerly Mombasa Teachers Sacco Ltd has officially opened a branch in Ukunda town, Kwale County. The Ukunda branch situated at Arusha Plaza along the Likoni-Lunga Lunga road aims to bring services closer to the residents. Initially, residents of the county travelled long distances to Mombasa town to access Mafanikio Sacco services. However, with…
By Boniface Mulu. Kitui County Government has constructed 16 honey processing factories for local beekeeping cooperators, a juice processing factory for the Mwingi Horticulture Farmers Cooperative Society Limited in Mwingi sub county, among other projects. County Trade, Industry, ICT and Cooperatives Development CEC, Jonah Mwinzi, said the county government has also purchased a milk cooler…
