Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Commissioner for Cooperatives Development David Obonyo has commended Muungano Women Group Housing Cooperative for playing a key role in offering affordable housing in line with the Bottom up Economic Transformational Agenda (BETA). Represented by Morris Mworia from his office, the commissioner lauded the cooperative for empowering women and cooperatives in general for playing a significant role in supplementing…
Cooperatives Cabinet Secretary (CS) Simon Chelugui has proposed that Saccos be allowed to clear their cheque books directly as opposed to the current practice of doing it through commercial banks. The CS said Saccos were incurring a lot of expenses when clearing their cheques through commercial banks. “I believe that Saccos will be able to…
Over 100 firms in the real estate sector have formed an association dubbed Real Estate Stakeholders Association to help end the many cases of Kenyans being conned millions of shillings by fraudulent land buying and selling companies. According to Zani Properties Limited chairman Shamton Githere, the association will play a pivotal role in regulating the…
Unity Homes and Absa Bank Kenya have entered into an agreement to allow potential home buyers acquire houses in Tatu City through the affordable housing financing scheme. The collaboration will see the bank provide Kenya Mortgage Refinancing Company (KMRC)-backed mortgages with terms of up to 25 years. The price of modern apartments starts at Ksh5,950,000….
Inadequate supply of affordable housing, high incidental costs, slow property registration and titling process and high cost of land for construction have been identified as some of the reasons most Kenyans are unable to own modern houses, a new report has shown. According to Kenya Mortgage Refinance Company (KMRC) 2022 Annual Integrated Report and Financial…
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,…
