July 7, 2024
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Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya

The Leading Newspaper for Co-operative Movement in Kenya

Category: National News

Jubilee Holdings Group CEO Julius Kipngetich with Vice Chairman Zul Abdul, Chairman Nizar Juma and Group Chief Operating Officer Juan Cazcarra. Photo:courtesy

Jubilee insurance to make record KSh1 billion dividend payout

Sacco Review05 mins

Jubilee Holdings will pay a total dividend payout of KSh1.04 billion for the full year ended December 2023 despite a decrease in profits compared to 2022. The insurance company recorded a KSh4.4 billion profit last year compared to KSh5.5 billion posted in 2022. In the full year to December 2022, the insurer issued a dividend…

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Absa Bank MD CEO Abdi Mohamed during the Financial Year investor briefing.

Absa Bank records strong first quarter profit growth

Sacco Review04 mins

Absa Bank Kenya has reported a profit after tax growth of 33.5 per cent up to KSh5.9 billion from KSh4.4 billion posted at a similar period last year. The bank’s diversification strategy, supported by new businesses such as bancassurance, asset management, Timiza, and stock brokerage, seems to be paying off after total revenue rose 19…

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Woccu accepting applications for 2024 scholarship for women, young professionals

Sacco Review04 mins

Interested credit union women and young professionals have been urged to apply for the second annual fellowship of the World Council of Credit Unions (WOCCU). WOCCU, a union which works to advance financial inclusion through the credit union and cooperative model by engaging in international advocacy, development, education and networking that empowers underserved populations, and…

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Family Bank CEO Nancy Njau at a past event.

Family Bank posts KSh910.5 million profit in first quarter

Sacco Review04 mins

Family Bank has recorded a 25 per cent growth in net profit to KSh910.5 million. This is a growth from the KSh685.3 million in the first quarter of 2023. It has also reported a profit before tax increase growth of KSh1.3 billion, a growth of 24.3 per cent as compared to the same period last…

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Car & General set to build KSh800 million mall in Shanzu

Sacco Review05 mins

Car and General, a Nairobi Securities Exchange-listed firm is deepening its foray into the property business with a KSh800 million mall project in Shanzu, Mombasa County. The firm intends to build the mall on four acres, with the construction set to begin next year to be completed by 2026. “We are looking to commence a…

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President William Ruto and Agriculture Cabinet Secretary Mithika Linturi. Photo:courtesy

Meru traders laud President Ruto, CS Linturi for dismissing muguka ban

Sacco Review05 mins

Meru miraa traders and residents have lauded President William Ruto and Agriculture Cabinet Secretary Mithika Linturi for dismissing and terming muguka ban in Mombasa, Kilifi and Taita Taveta counties as “null and void”. John Ratanya, a miraa trader in Makandara, Meru town, criticised the initial bans, highlighting their detrimental impact on the local economy. “It…

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The signing of MoU between the Ministry of Co-operatives (Kenya) and National Co-operative Business Association NCBA-CLUSA (US) during the US, Kenya Business Forum in Washington DC, recently. Photo:courtesy

Boost for coffee farmers as Kenya signs MoU with US on collaboration

Sacco Review06 mins

The Kenyan government and the United States have signed Memorandum of Understanding (MoU) on cooperation and collaboration on the coffee value chain and other identified areas of mutual interest. The MoU between the Ministry of Co-operatives and MSMEs Development (Kenya) and National Co-operative Business Association NCBA-CLUSA (US) were signed during the US Kenya Business Forum…

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Machakos Deputy Governor Francis Mwangangi , plants a seedling coffee tree on May 24 at Kwa Matingi Farmers Cooperative Society in Matungulu Sub-county. Photo: Gastone Valusi

Leaders of coffee farmer cooperatives in Machakos cautioned against corruption

Sacco Review04 mins

Management committees running the various coffee cooperative societies in Machakos County, have been cautioned against mismanagement and plunder of farmers’ cash from the coffee proceeds. Machakos Deputy Governor Francis Mwangangi said on Friday, May 24,  that the rampant reports of numerous cooperative societies in the county sinking into huge debts from financial institutions were worrying….

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Group Managing Director Nasim Devji.

DTB first quarter profit rises by 8.6 per cent to hit KSh2.6

Sacco Review04 mins

Diamond Trust Bank (DTB) net profit for the first quarter of this year grew by 8.6 per cent , reaching KSh2.62 billion, driven by growth in both interest and non-interest income. The company’s net earnings grew from KSh2.42 billion that had been posted during the correspondent quarter of last year. Net increased income, mainly derived…

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ICT Cabinet Secretary Eluid Owalo addresses residents at Bondo Technical Training Institute on May 24, 2024. Photo: Fredrick Odiero

We’ve trained 300, 000 youth on digital jobs, Owalo says

Sacco Review05 mins

Cabinet Secretary of ICT Eliud Owalo has revealed that over 300,000 youths have been trained, and more than 1,000 digital jobs created since the start of digitalization programme year ago. Owalo remains optimistic that within the next two years, two million digital jobs will be generated. He further stated that ICT offers abundant job opportunities…

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