Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
A housing cooperative has lodged a legal challenge against the government’s acquisition of a 60-acre land parcel, valued at KSh15 billion, designated for the construction of the contemporary Talanta Hela Stadium sports complex. The Postel Housing Cooperative Society contends that the land was obtained without adhering to the legal requirements for compulsory acquisition. In the…
President William Ruto has warned coffee farmers against taking more loans following a waiver issued by the government recently. Speaking at Gitooro ASK showground in Meru County during the Meru Cooperative Dairy Union 9th Farmers Field Day, Ruto cautioned the cooperatives coffee society officials against taking more loans unless it is approved by farmers themselves….
The Treasury has withdrawn its intention to increase the excise duty on mobile money transactions, providing a reprieve to millions of users who depend on these services, such as Safaricom’s M-pesa. National Treasury Cabinet Secretary Njuguna Ndung’u has rolled back the proposal to increase the excise tax duty on mobile transfer services from 15 per…
In managing our finances and personal development, this is like a metaphorical transformation of milk to yogurt, and then to cheese, revealing a profound truth about the nature of mistakes and their ability to create value. Just as cheese is a more valuable dairy product than both milk and yoghurt and sour grape juice melts…
Kenya Commercial Bank (KCB) Group Chief Executive Officer, Paul Russo has been named African Business Leader of the Year by Africa Leadership Magazine. This happened at the 14th Annual Leadership awards which took place at the UK House of Lords in Portsmouth, United Kingdom. Paul Russo’s nomination was the result of intense and competitive evaluation…
Stakeholders in the cooperative movement have now called for urgent measures to ensure that the country’s Sacco umbrella body, the Kenya Union of Credit Co-operatives (KUSCCO), is regulated for safety of funds and restore the image of the union. This comes after the Cabinet Secretary (CS) for Cooperatives and MSMEs Development Simon Chelugui dissolved the…
Economic empowerment for women and youth in Ganda Ward, Malindi Sub-county in Kilifi County is taking root with the aim of creating employment for residents. Already, 15 youth and women groups have received tools and equipment that will enable them create jobs and add value to local products. The area Member of County Assembly (MCA)…
The Anderson Affordable Housing Project in Kisumu County is now set to kick off in earnest after LAPTRUST and the County Pension Fund (CPF) in collaboration with the county government broke ground. The landmark event will see the construction of over 1,200 decent and affordable housing units. It is designed in line with both the…
Absa Bank Kenya has reported a profit after tax growth of 33.5 per cent up to KSh5.9 billion from KSh4.4 billion posted at a similar period last year. The bank’s diversification strategy, supported by new businesses such as bancassurance, asset management, Timiza, and stock brokerage, seems to be paying off after total revenue rose 19…
Family Bank has recorded a 25 per cent growth in net profit to KSh910.5 million. This is a growth from the KSh685.3 million in the first quarter of 2023. It has also reported a profit before tax increase growth of KSh1.3 billion, a growth of 24.3 per cent as compared to the same period last…
