Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Peter Otuoro Kenyans have been urged to tap into housing cooperative societies to enable them save and own houses in urban areas. Lands, Public Works, Housing and Urban Development Cabinet Secretary Zachariah Njeru said many Kenya are not aware of benefits gained after joining housing cooperatives. He said the ministry will work with his…
By Benedict Ng’etich Imarisha Sacco has launched new tailor-made products to help new members achieve their financial dreams. Sacco Chairman Mathew Ruto noted that the products include the take off loan which caters for newly employed people and does not require one to have deposits. The repayment period is 84 months and the applicant should…
By Kamau Njoroge Members of Anchor Premier Sacco, formerly Urithi Premier Sacco, can now heave a sigh of relief after the new management rolled out plans to recover their properties that are still held up by Urithi Housing Co-operative Society Limited. The Sacco, which has been associated to Urithi, rebranded three years ago by dropping…
By Peter Otuoro Cooperatives Cabinet Secretary (CS) Simon Chelugui has said that over Ksh2 billion has not been remitted by various state and private organizations to Saccos on behalf of their employees. Chelugui said the government will put strict measures to ensure all deductions on members’ salaries are remitted without delay, be they from public or…
By Azael Masese Management of Kenya’s cooperatives is set to get better with the establishment of the African Confederation of Cooperative and Credit Associations (ACCOSCA) Academy in Nairobi. The academy, the first of its kind in Africa, will offer hybrid training programmes with the aim of enhancing professionalism and competencies to run effective cooperatives in…
By Robert Nyagah Experts and other stakeholders in the cooperative movement have been challenged to offer professional guidance on prudent financial management to start-up groups to ensure such units mature to Saccos and Cooperatives. Former Commissioner of Cooperatives Mr. Geoffrey Njang’ombe argued that when well equipped with skills and funds management skills, the groups have…
By Obegi Malack obegimalack@gmail.com The government’s Financial Inclusion Fund commonly known as Hustlers Fund program which is set to be launched at the end of this month will not require any official registration. Co-operative and Micro, Small, and Medium Enterprises (MSMEs) Cabinet Secretary Simon Chelugui has clarified that Kenyans seeking to access the funding will…
By Obegi Malack obegimalack@gmail.com The government has approved the legal and institutional framework to anchor the establishment and implementation of the financial inclusion fund (Hustlers Fund) which was in President William Ruto’s pre-election manifesto. The first phase roll out of the fund is expected to be launched on November 30, this year. Kenyans will be…
By Azael Masese Cooperatives and SME Cabinet Secretary Nominee Simon Chelugui has promised to streamline the cooperative sector to significantly contribute to improving living standards of Kenyans. While appearing before the National Assembly’s Committee on Appointments recently, Chelugui identified amending the Cooperative Societies Act, strengthening Sacco Societies Regulatory Authority (Sasra) as top in his agenda….
By Roy Hezron Disputes in co-operative sector will now be handled by the Co-operative Court which will stand on its own aside from the existing Co-operative Tribunal, if the draft bill will be enacted into law. The Draft Co-operative Bill, 2021 which if enacted into law will repeal the long-term Co-operative Societies Act which was…
