Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Saccos in the country are among top lenders accumulating assets and savings worth billions of shillings. Five top Saccos in the country command a membership of over 517,700. Nairobi City County director of co-operatives Dolphine Aremo said recently that the Capital City hosts to 4978 cooperatives including giant Saccos. In her speech dubbed “Overview of the…
Kenya telecoms operator Safaricom, today, May 9 announced that its group earnings before interest and tax, excluding Ethiopia, was KSh139.9 billion in its full year to end-March. It becomes first company in the region to cross past billion-dollar mark in earnings after operating profit for the full year to March rose by 20 per cent…
United States President Joe Biden has planned to welcome President William Ruto to the White House this month, which will be a state visit after changing plans to visit Africa last year. White House press secretary Karine Jean-Pierre said recently that the visit set for May 23 will mark the 60th anniversary of US-Kenya diplomatic…
The National Assembly has rescheduled the dates and venues for public hearing on the Cooperatives Bill 2024, (National Assembly Bill No. 7 of 2024) for some regions. In an announcement seen by Sacco Review, the public hearing scheduled for May, 11 at Garrissa Social Hall in Garissa County has been postponed indefinitely due to unforeseen…
The success of the Cooperative movement in Nairobi City County is a key player in the economic situation of the entire country with total assets base of KSh618 billion. The county has a well-established department called the Business and Hustler Opportunities sector endowed with technocrats overseeing capacity building of the sector and providing round the…
Ministry of Co-operatives & Micro, Small and Medium Enterprises Cabinet Secretary Simon Chelugui has appointed a new interim committee to run Kenya Union of Savings and Credit Cooperative (KUSCCO) after dissolving the previous board following mismanagement of funds allegations. In a statement by the Ministry the 15-member interim Board will be chaired by David Mategwa…
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…
