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

Kenyans in informal sector to pay Housing levy if amended Bill is passed

Sacco ReviewDecember 8, 2023December 8, 202303 mins

The controversial Affordable Housing Bill, 2023 has been amended to solicit the 1.5% Housing Levy contributions from individuals in the informal sector. This is after a three-judge bench declared the levy unconstitutional last week due to its discriminatory nature and unequal principles as it only targeted salaried Kenyans and expanded the tax to include incomes…

Controller of Budget arrested for operating unregistered Sacco

Sacco ReviewDecember 5, 2023December 5, 202303 mins

Controller of Budget (CoB) Margaret Nyakang’o has been arrested in Mombasa by DCI officers and presented to court to face the charge of operating a Sacco without a license. The arrest came after the Office of the Director of Public Prosecutions approved the charges in a letter to the DCI on November 30,2023. Nyakong’o’s charges…

Kilemi urges KETSA to ensure strict compliance with sector regulations

Sacco ReviewDecember 5, 2023December 5, 202302 mins

Teacher-based cooperative societies affiliated with Kenya Teachers Sacco Association (KETSA) have been urged to ensure strict compliance with the law and other regulatory frameworks governing the sector. Principal Secretary for Cooperatives Patrick Kilemi emphasized on the importance of adhering to the regulations set by the Sacco Societies Regulatory Authority to ensure continued growth and success….

Nakuru pastors form Sacco to improve livelihoods

Sacco ReviewDecember 5, 2023December 5, 202303 mins

Pastors in Nakuru have come together to establish Mitume Sacco to help them save money and access affordable credit facilities, ultimately improving their livelihoods. Pastor Alex Maina, the Sacco chairman and the chair of Nakuru Pastors Fellowship, encouraged pastors and clergy members to join the Sacco to enhance their economic status. “We understand the difficulties…

Safaricom Sacco CEO named winner of Champions of Governance Awards

Sacco ReviewDecember 5, 2023December 5, 202303 mins

Joseph Njoroge, the CEO of Safaricom Sacco, has been named the winner of this year’s Champions of Governance (CoG) Award by the Institute of Certified Secretaries (ICS) in a ceremony held at Mercure Hotel in Upperhill, Nairobi. The CoG Awards aim to recognize and promote research work related to good governance practices. Njoroge, who joined…

Kenya Bankers Sacco to gift loyal members in Christmas raffle draw

Sacco ReviewDecember 2, 2023December 2, 202303 mins

Kenya Bankers Sacco has launched a Christmas raffle draw which will see members who deposit more than their usual monthly savings gifted shopping vouchers with a goat as the grand prize. To qualify, members must have a minimum share capital of Ksh30,000 and have made deposits between November 24 and December 20. The Sacco will…

New KCC will not be privatized, Chelugui says

Sacco ReviewDecember 2, 2023December 2, 202303 mins

The New Kenya Co-operative Creameries Limited (New KCC) will not be included in the list of 11 state corporations slated to be privatized. According to Cooperatives and MSMEs Development Cabinet Secretary Simon Chelugui, there is a four-year Cabinet decree that invalidates the privatization of the New KCC. During a meeting with the management in Naivasha,…

Govt regains control of Co-ops in new draft bill

Sacco ReviewNovember 24, 2023November 24, 2023013 mins

The Co-operative Bill 2023 is a game-changer as it will allow the government a level of control over activities of the cooperative movement and intervene in case of any risk that may threaten the movement with the aim of making the multi-billion sector flourish again. A look into the bill shows that unlike before when…

Authority kicks off campaign to register more Kenyans for retirement scheme

Sacco ReviewNovember 22, 2023November 22, 202303 mins

The Retirement Benefits Authority (RBA) has rolled out a nationwide sensitization campaign to encourage more Kenyans to join the retirement scheme to cushion themselves during old age. Speaking in Kisumu, RBA Chief Executive Officer Charles Machira said that according to their data, only 26 percent of the country’s entire labour force saves for retirement. “This…

Govt keen on boosting key economic pillars, PS Omollo says

Sacco ReviewNovember 22, 2023November 22, 202302 mins

The Principal Secretary for Interior and National Administration, Raymond Omollo, has assured Kenyans that the government is focused on strengthening its five key economic pillars. He said that it is training its focus to accelerate and sustain inclusive growth, create opportunities for decent jobs, reduce poverty and income inequality and ensure that we create a…