Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Felix Wanderi Co-operative Bank board of directors has recommended a dividend of Ksh 1.50 per share, subject to approval by the regulators and shareholders. Co-op Bank Group CEO Gideon Muriuki said the proposed dividends represent a 50 per cent increase on the Ksh 1.00 per share paid out last year. He added that the bank will pay out a…
By Agnes Orang’o Komarock Housing Cooperative Society members have been urged to avoid unnecessary land sales and instead invest on the lands to secure their future. Speaking to members during one of the society’s meetings, the society’s chairman Bernard Maembe expressed concern over the increased land sales. “Most of you inherited your land from your…
By Azael Masese Kenya National Police Deposit-Taking Sacco is crafting an ambitious growth strategy aimed at positioning itself as a critical brand in mobilising savings and extending affordable credit, even as the number of Kenyans joining the Sacco to access its top notch products and services grows overboard, Board Chair David Mategwa has said. “We…
By Roy Hezron Kenya Society of Professional Co-operators (KSPC), a sector professional organization in the cooperative movement of Kenya, has come up with regulation guidelines that seek to root out cooperative quacks. The move is meant to bring order in the Co-operative movement in the country which has accumulated asset base of over Sh. 1…
By Bernard Matumbai Co-operative Bank of Kenya has been named East Africa’s Regional Bank of the Year at the African Banker Awards Gala Ceremony held in Accra, the Ghanaian capital. In a continuation of the listed Tier One lender’s international supremacy, the bank was feted for its overall excellence in the banking sector across the region….
By Our Reporter The President led the nation in celebrating the 59th Madaraka Day at the newly-rehabilitated Uhuru Gardens in Nairobi yesterday, 1st June 2022. On that historic occasion, the head of state enumerated the achievements of his administration as it enters home stretch.. However, one milestone that stood out is the govt’s expansion of…
At 56 per cent growth in pre-tax profit, nothing seems to be stopping top tier lender’s exploits By Matumbai Bernard-Boy The Co-operative Bank of Kenya has maintained its upward trajectory, recording a 56 per cent before tax growth in the first quarter of 2022 as compared to the same period last year. In a statement dated Thursday,…
By Bernard Matumbai Co-operative Bank of Kenya’s net income jumped by 53 percent to a record Sh16.5 billion in the year ended December 2021 from Sh10.8 billion in the previous term, something that was attributable to higher interest income, investment in government and reduced expenses. The bank recorded a 59 percent surge in pre-tax profit…
By Andrew Walyaula waliaulaandrew0@gmail.com Lenders in Kenya have gradually adopted the risk lending based mechanism, a move that has led to the rise of credit rating uptake. The Credit Reference Bureau (CRB) Regulation 2020 mandates lenders to use a customer’s credit score when appraising a credit application. Metropol CRB General Managing Director Sam Omukoko urged…
By Our Reporter Despite the stellar performance of the Deposit Taking (DT) Saccos during the troubled 2020 financial year, Sacco regulator SASRA blames perennial delays in remittances of statutory deductions for topping the list of un-warranted challenges that hamper the growth and development of the societies. According to the SASRA’s 2020 Sacco supervisory annual report,…
