Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
A loan of Ksh6 million from Imarika Sacco Limited turned around the life of a retired Kenya National Union of Teachers (KNUT) official Mwalimu Rasi, who is now living off the benefits accrued from the investments he made. Several consistent loans and repayments built his creditworthiness to a point he could borrow a huge sum,…
The proposed Co-operative bill will see the transformation of Co-operatives in the country into a four-tier structure of primary, secondary, co-operative federations and apex co-operatives. According to the Draft Co-operatives Societies Act 2021, Primary Co-operatives, which may admit into its membership a corporate or an unincorporated person, shall include producer, housing, Saccos, savings and investment,…
Members of Anchor Premier Sacco, formerly Urithi Premier Sacco, can now heave a sigh of relief after the new management rolled out plans to recover their properties still held up by Urithi Housing Co-operative Society Limited. The Sacco, which was associated with Urithi, rebranded three years ago by dropping the name Urithi and replacing it…
Kenya Union of Savings & Credit Co-operatives Ltd (KUSCCO) has presented their memoranda on tax matters affecting Saccos in Kenya where they have said that there will be implications under the current tax law provisions. Saccos with corporate members would lose the tax benefit of exemption. Interest income from members and 50% for the interest…
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 Boy Matumbai At the onset of the Covid-19 pandemic, Hazina Housing Co-operative Society chairman Charles Musungu agonized with two of his friends who had lost their jobs to the damning ravages of the outbreak. But looking further, he figured out that both his friends owned plots that they were yet to develop. But even…
