Legislation - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

CS Oparanya instructs Commissioner for Coops Development to develop Dividend Policy

Sacco ReviewNovember 25, 202403 mins

Cooperatives and MSMEs Development Cabinet Secretary Wycliffe Oparanya has instructed Commissioner for Cooperatives Development to develop a Dividend Policy for Cooperatives that will ensure that no cooperative borrows to pay dividends. The CS who was speaking in Nairobi during the launch of the strategic plan 2023-2027 for new Kenya Planters Cooperative Union (KPCU) said the…

Sugar industry set for radical reforms as President Ruto assents to Sugar Bill

Sacco ReviewNovember 12, 202406 mins

Stakeholders in the sugar industry have lauded President William Ruto for assenting to the enacted sugar bill. They noted that the move now paves the way for radical reforms in the sugar sub-sector which has been limping for many years. Kenya Union of Sugar Plantation Workers (KUSPAW) secretary general Francis Wangara said the Act will…

KNCCI chairman urges SMEs to understand taxes for business resilience and compliance

Sacco ReviewNovember 7, 202404 mins

The proprietors and managers of small and medium-sized enterprises (SMEs) have been urged to keenly research and understand the types of taxes that affect their businesses for resilience and tax compliance. The Chairman of the Kenya National Chamber of Commerce and Industry (KNCCI) Kericho branch Rev. Reubenson Malakwen Bett said SME managers should try to…

President Ruto signs the Sugar Bill into law to revitalize the sector

Sacco ReviewNovember 5, 202405 mins

President William Ruto has assented to the Sugar Bill (National Assembly Bills No. 34 of 2022) which seeks to revitalize the sector, enhancing growth, regulation, and support for cane farmers nationwide. Sponsored by MP Emmanuel Wangwe and co-sponsored by Senator. David Wakoli, the Bill was considered by both Houses and approved by the National Assembly…

Supreme Court overturns an Appellate Court verdict that declared the Finance Act 2023 unconstitutional

Sacco ReviewOctober 31, 202404 mins

The Supreme Court overturned an Appellate Court verdict that had declared the Finance Act 2023 Unconstitutional. This followed the successful appeal filed at the Supreme Court by the Cabinet Secretary for National Treasury, the Attorney General and the National Assembly and the Kenya Revenue Authority, challenging the July 31st 2024 Court of Appeal’s judgment declaring…

Ownership Battle: Who really owns the Trans-Elite Savings Sacco Plaza?

Sacco ReviewOctober 31, 202405 mins

Confusion surrounds the ownership of the Trans-Elite Savings and Credit Cooperative Society Plaza in Kapsabet town, Nandi County, with current officials claiming ownership leaving the question, Who really owns the Trans-Elite Savings Sacco Plaza? Sacco Chair Alfred Ngetuny said they bought the plaza using a bank loan, dismissing claims by some former members claiming to…

Mediation Committee Meets to Consider Contentious Clauses of Sugar Bill

Sacco ReviewOctober 1, 202403 mins

The Mediation Committee on the Sugar Bill (N.A. Bill No. 34 of 2022) has started considering clauses of the Bill that are under mediation. The committee which is chaired by Emmanuel Wangwe (MP Navakholo) first considered sub clause 38 (6), which, if amended, will see the Members agree on the institution that will be in…

Despair as KCB plan to auction 78 Greatwall apartments on May 21 at Westlands

Sacco ReviewMay 12, 202405 mins

KCB has advertised the sale of 78 of two-bed apartments at Greatwall Gardens in Athi River to recover a KSh1.9 debt that the developer Erdermann Property Limited had borrowed. In a notice in one of the daily newspaper on May 6, KCB Bank through the auctioneer Garam Investments, advertised the units for sales even as…

MPs to kick off nationwide public hearings on Cooperatives Bill next week

Sacco ReviewMay 4, 202403 mins

The National Assembly has announced dates for of public hearings on the Cooperatives Bill 2024, (National Assembly Bill No. 7 of 2024) urging members of the public to turn out to give views. Hearings will take place in 8 counties on May 7-11, 2024. On May 7, 2024 hearings will hold in Siaya at IEBC…

KCB to auction 100 Greatwall Apartments in Athi River

Sacco ReviewApril 26, 2024April 26, 202404 mins

Some 100 homeowners at Greatwall Gardens estate in Athi River might lose their units after Erdemann Property Limited lost a KSh1.9 Billion loan case against Kenya Commercial Bank. Erdermann Property Ltd, the developer made a prayer to the court saying that homeowners were innocent purchasers and that the units were sold by mistake, the prayer…