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

Airtel ventures into home internet to grow customer base

Sacco ReviewJune 15, 202404 mins

Airtel is poised to compete with existing players in Kenya’s home internet market, which has long been dominated by Safaricom. Their new broadband services specifically cater to users in residential and business settings. Named the ‘Unlimited Home Broadband’ service, this product is poised to compete with major operators, including Jamii Telecommunications Limited and Zuku, which…

Relief as mobile money users exempted from tax increase

Sacco ReviewJune 14, 202405 mins

The Treasury has withdrawn its intention to increase the excise duty on mobile money transactions, providing a reprieve to millions of users who depend on these services, such as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…

Pre-Ushirika Day blood donation drive launched at Cooperative University

Sacco ReviewJune 13, 202403 mins

State Department for Cooperatives Principal Secretary Patrick Kilemi on Tuesday, June 12 has launched Pre-Ushirika Day blood donation drive at The Co-operative University of Kenya an initiative organized by the Ushirika Council. The PS noted that the blood drive symbolizes the 7th Co-operative Principle, Concern for the Community and our commitment to building a better…

PS Kilemi urges Sacco leaders to uphold good governance for growth sector

Sacco ReviewJune 12, 202403 mins

Principal Secretary State Department for Cooperatives Principal Patrick Kilemi has urged Sacco leaders to uphold good governance practices. The PS Speaking on Thursday during closing ceremony of The Annual Sacco Subsector Regulatory Policy and Legal Roundtable, 2024 in Naivasha organized by The Sacco Societies Regulatory Authority (SASRA) said the Sacco leaders should take their responsibilities…

Ruto announces KSh300 million debt write-off for Bungoma coffee farmers

Sacco ReviewJune 1, 2024June 1, 202402 mins

Coffee farmers in Bungoma County are set to get a Sh300 million waiver in debt from government as part of the broader scheme to revamp the crop’s farming in the country. President William Ruto announced during Madaraka Day Celebrations, Masinde Muliro Stadium Kanduyi, Bungoma County held today The President added that the debt write-off plan…

KCB Group CEO named African Business Leader of the Year

Sacco ReviewJune 1, 202403 mins

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…

Kenya Re posts KSh4.97 billion profit in 2023

Sacco ReviewJune 1, 202403 mins

Kenya Reinsurance Corporation has posted a profit of KSh4.97 billion in the financial year ended December 2023 up from KSh3.5 billion posted in 2022. This has been realized as a result of net investment and insurance results that rose by 42 per cent to KSh8.19 billion, up from KSh5.78 billion in the previous year. This…

Ufanisi DT Sacco gets new Accountant

Sacco ReviewMay 31, 2024May 31, 202401 mins

CPA Protus Senda, former Shoppers Sacco Chief Executive Officer (CEO), is now the new Accountant at Ufanisi DT Sacco Society. READ ALSO: Ufanisi DT Sacco gets new Accountant Senda is a Bachelor’s Degree holder in Commerce, Finance and Banking option, and a Certified Public Accountant (CPA-K) with over 11 years of experience in matters credit…

KSPC asks Saccos to lay down procedures of shares transfer between members

Sacco ReviewMay 31, 202407 mins

The Kenya Society of Professional Co-operators (KSPC) has called on all cooperatives in the country to come up with clear guidelines and policies regarding how shares can be transferred from one member to another. In their routine Continuous Professional Development (CPD) forum which was held in Kisumu between March 25 and March 29 this year,…

What next for KUSCCO after loss of billions in member savings?

Sacco ReviewMay 31, 2024May 31, 202408 mins

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…