Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
The Council of Governors (CoG) has submitted the legislative memorandum on the National Assembly 2022 Sugar Bill to the Senate Standing Committee on Agriculture, Livestock and Fisheries chaired by Kirinyaga county Senator James Murango for consideration. The document was presented by Bungoma Governor Kenneth Lusaka in his capacity as the Chair of the Agriculture Committee….
Co-operatives and Micro, Small and Medium Enterprises (MSME) Development Cabinet Secretary Simon Chelugui has revealed that the government is promoting the involvement of young people in the cooperative movement by encouraging them to form their own cooperatives or be incorporated into leadership of the existing Saccos. The CS lamented that despite their technological proficiency, young…
The Principal Secretary (PS) for State Department of Cooperatives, Patrick Kilemi, has reiterated the government’s pledge to support the cooperative sector by implementing dynamic policies and regulatory frameworks. Kilemi made the remarks on November 15 in Mombasa during a workshop which brought together cooperative sector shareholders from across the country to brainstorm on how to…
The Cooperative Bank of Kenya has been ranked the best for demonstrating sustained commitment to driving a positive impact on the environment through sustainable lending practices. The bank, for the fourth time in six years, has scooped the Top 2023 Overall Sustainable Finance Catalyst Award, confirming its commitment to financial sustainability. The results were released…
Deputy President Rigathi Gachagua has announced that the government will release the coffee cherry revolving fund to farmers soon. He said the government has allocated Ksh4 billion, adding to the Ksh2.7 billion that was earlier allocated, assuring that the government is committed to restoring the glory of the sub-sector as was in the 1980s. “The…
The Ministry of Co-operatives and MSMEs Development has allocated Ksh500 million to Kenya Co-operative Creameries (KCC) to purchase excess milk after a dairy boom following the heavy rains being experienced across the country. While addressing the press in his office, Cabinet Secretary (CS) Simon Chelugui announced that the funds will be immediately disbursed to KCC…
The National Housing Corporation (NHC) has urged Kenyans to use its digital platform, Boma Yangu, to secure affordable housing mortgages through the e-Citizen platform. NHC board member Joshua Nyamori said that the platform, which he said is the gateway to the Affordable Housing Program, enables Kenyans to buy houses at market-friendly rates on both short…
Simon Chelugui, the Cooperatives and MSMEs Development Cabinet Secretary (CS), has released a report which indicates a steady growth in the Sacco industry for the past one year. Chelugui said that all the 360 Saccos regulated by the Sacco Societies Regulatory Authority (SASRA) have seen tremendous growth in assets, deposits, loans, and capital from November…
The Cooperative Bill 2023, recently approved by the Cabinet, will penalize employers who fail or delay to remit employees’ deductions from salaries to Sacco accounts within 7 days. The Bill proposes that employers who fail or delay to remit the deductions shall pay the amount deducted with compound interest accrued at a rate of not…
A team of top CEOs of Savings and Credit Co-operative Associations (SACCAs) drawn from across USA, Europe and Canada, who are in the country for the Inaugural ACCOSCA International CEOs’ Summit which ends on November 11, have called on Kenyan Saccos to strive to meet the needs of their members as a pivotal strategy towards…
