Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Kenya Mortgage Refinancing Company (KMRC) hopes there will be increased healthy competition in the sub-sector that has been dominated by commercial banks after Saccos entered into the mortgage space. They are now looking forward to making affordable housing a reality because Saccos offer loans at a low interest rate and are easily accessible to many…
The fall of the hammer is dreadful. An encounter with an auctioneer is the most frightening experience for an investor, not just because of the humiliation, but the thought of losing property to an indifferent executor of orders is traumatising. However, Sacco leaders have maintained that despite auctioneers having a place in Saccos, they should…
Dr Joseph Mwiti’s innovation of manufacturing cement using clay will serve as a welcome relief to thousands of Kenyans who aspire to build home. Dr Mwiti, a lecturer who teaches Chemistry at Meru University of Science and Technology (MUST), believes that using clay to make cement will revolutionize construction and provide a solution to high…
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…
