Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Cabinet Secretary for Cooperatives and MSMEs Simon Chelugui announces dismissal of Kenya Union of Savings and Credit Union (KUSCCO) Board of Directors over financial impropriety. CS Chelugui says the Board made inappropriate decisions. “Preliminary findings indicate systemic deficiencies in the management of resources, including, high cash withdrawals out of character with expected operations – Kshs…
The State has allocated KSh5 billion for the Hustler Fund in the 2024/2025 budget. The fund, managed by the Cooperatives department is aimed at providing cheap mobile loans to Kenyans. In the present financial year, the Government had allocated KSh10 billion towards the same but it was trimmed in the first supplementary budget. READ ALSO:…
The East African Community Partner States have received a major boost after the World Bank approved the financing of KSh59 billion for sanitation programme within the Lake Victoria Basin. The noble gesture, according to the Executive Secretary for the Lake Victoria Basin commission (LVBC) Dr Masinde Bwire, has been achieved through a series of engagements…
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…
New maize varieties resistant to the deadly armyworm have been released researchers. Director General Kenya Agriculture and Livestock Research Organisation Eliud Kireger said the new seeds were developed to stop the spread of the dangerous migratory pest. The National Varieties Release Committee, chaired by the Ministry of Agriculture approved the seeds on February 20, 2023…
The delays and sometime failure by counties to remit deductions to Saccos has hampered their smooth running and even risking liquidity. Saccos now say that employer institutions’ failure to honour their obligations of remitting Sacco deductions affects the financial performance of these firms, despite various policy and administrative measures being put in place to address…
Nandi Deputy Governor Yulita Mitei has urged Saccos to develop products that are favourable to farmers to boost food security. Speaking at Kapsabet Showground during a two-day business trade exhibition organized by Kapsabet Showground in conjunction with Nandi County Government, Dr Mitei said the county administration has invested heavily in the agriculture sector calling on…
Some 50 new cooperative societies have been registered in Taita Taveta County, Sacco Review has established. Speaking to Sacco Review in Voi town recently, County Cooperative Commissioner Erastus Gonzi said that the 50 new cooperatives were registered between September last year and early April this year. He further stated that 10 dormant cooperative societies in…
Metropolitan Sacco 46th Annual General Meeting (AGM) that was taking place today at Kiambu High School ended unceremoniously as members demanded for financial reports. According to reports, the management of the Sacco said they did not have financial reports because SASRA had not approved them yet. The reports further indicate that members of the Sacco…
Hesitance and lack of interest by young Jua Kali artisans in welding and metal work related sector in Embu County to join or form Saccos has been blamed for the continued low access to finances to expand their businesses. Such finances including loans and government funds which are readily availed to self-help groups and Saccos…
