Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Our Reporter National Treasury Cabinet Secretary Henry Rotich has appointed a Steering Committee that will establish the Financial Sector Authority (FSA) and oversee the merger of all financial regulatory authorities into one In a Gazette Notice Vol CXVIII No 143, dated November 18, 2016, members of the Steering Committee include Principal Secretary, National Treasury…
By Azael Masese Nyamira Tea Farmers Sacco Society Ltd plans to open its common bond in order to attract membership from other sectors including the business community. This will enable the Sacco to diversity its business operations and strategy. Located in Nyamira town, the Sacco is licensed by the Sacco Societies Regulatory Authority (Sasra) as…
By Munene Maina Imarisha Sacco Society Limited gave Alfred Chepkwony, Peninnah Chepkemoi and Faith Kandie, three teachers based in Kericho County, a loan of Sh 1.5 million for construction of a school. This project was planned to have a three storeyed modern complex and dormitory block. This cash ran out before the project was complete…
“The consultants will pave way for the stakeholders’ consultation as we gear up to the new policy whose draft is complete,” noted the official. For the Co-operative Development policy, a National Leaders Conference should have been held last year to validate it, but the process has dragged on for what insiders attribute to logistical challenges…
By Jackson Okoth A number of deep pocketed Savings and Credit Co-operatives (Saccos) are setting up ultra-modern complexes with a view to leasing or renting out office space to interested parties. This segment of the property market is becoming an attractive option for the Saccos eager to pump more cash in the form of rental…
By Ben Wafula Bu n g o m a – b a s e d Ng’arisha Savings and Credit Co-operative Society, formerly Bungoma Teachers Sacco has been recruiting new members from neighbouring counties. According to Benedict Simiyu, Ng’arisha Sacco chairman, while the Sacco has been operating in the County, it has now extended its reach…
By Jackson Okoth An American consulting firm hired to do a feasibility study on the possibility of setting up an inter-Sacco lending facility has presented a draft report to the Sacco Societies Regulatory Authority (SASRA). Dave Grace & Associates presented its findings to the SASRA Board recently, bringing closer the possibility that Deposit-Taking Saccos could…
By Staff Reporter Stake Kenya Sacco Society, formerly known as Kuria Teachers Sacco Society Ltd, is seeking to recruit fishermen located at Muhuru Bay into its membership. “We are targeting to recruit fishermen operating along Muhuru Bay in Lake Victoria where fishing is the main economic activity as well as other small traders,” said Mr…
By Ken Langat Bodaboda Sacco Ltd of Belgut constituency has made a major move towards having a solid financial footing after receiving an injection of Sh1.5 million from a successful funds drive by MP Erick Keter. The Sacco has faced financial difficulties in the past, forcing it to rely on the financial and moral support…
“The consultants will pave way for the stakeholders’ consultation as we gear up to the new policy whose draft is complete,” noted the official. For the Co-operative Development policy, a National Leaders Conference should have been held last year to validate it, but the process has dragged on for what insiders attribute to logistical challenges…
