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

Senator Murungi lauds President Ruto for Signing County Assemblies Autonomy Bill into Law

Sacco ReviewAugust 15, 202504 mins

Meru Senator Kathuri Murungi has lauded President William Ruto for assenting to a landmark bill that grants fiscal and administrative independence to county assemblies across the country. The bill, authored by Senator Murungi, aims to empower the 47 county assemblies by providing them with direct access to funds, enabling them to carry out their oversight…

KSh4 Trillion transferred to counties in 12 years, says Ruto

Sacco ReviewAugust 14, 2025August 14, 202504 mins

President William Ruto has disclosed that the government has transferred KSh4 trillion to counties in the last 12 years, fostering inclusivity through fair resource distribution and addressing marginalisation. Speaking on Wednesday during the official opening of the Devolution Conference 2025 running from 12th – 15th August 2025 in Homa Bay County, the president said the…

Kenya, Iran form committee to lift Kenyan tea ban

Sacco ReviewAugust 12, 202503 mins

The government of Kenya and Iran have agreed to establish a joint committee tasked with eradicating trade obstacles within 60 days, paving the way for the lifting of the ban on Kenyan tea exports to Iran. The agreement was reached during the 7th Session of the Kenya-Iran Joint Commission for Cooperation (JCC) held in Nairobi…

The Meru County Government approves KShs14.6 Billion budget

Sacco ReviewAugust 12, 202504 mins

The Meru County Government has approved its budget for the 2025/2026 financial year. Governor Isaac Mutuma assented to the Sh14.6 billion budget at his office on Monday. Mutuma noted that the health sector received the lion’s share, with Sh1.9 billion allocated for development and procurement of medical supplies. Roads were allocated Sh1.6 billion, water and irrigation…

CS Wahome calls for Affordable Housing Programme support amid financial shortfall

Sacco ReviewAugust 8, 202508 mins

Lands, Housing and Urban Development Cabinet Secretary (CS) Alice Wahome has called on private sector players to actively support Kenya’s Affordable Housing Programme, amid a massive Ksh326 billion annual financing shortfall. The CS announced that the government was exploring partnerships with commercial banks, retirement benefit schemes, mortgage schemes, SACCOs, development partners, and the wider business…

Government bans SACCOS from non-core investments amid financial crisis

Sacco ReviewAugust 7, 202507 mins

The government has barred all Savings and Credit Cooperative Societies (SACCOs) in Kenya from investing in non-core business activities until proper regulations and supervisory frameworks are in place. This decision comes amid rising concerns over financial mismanagement and instability within the SACCO sector, which has seen some cooperatives plunge into financial turmoil due to unregulated…

Treasury fast-tracks KPC stake sale to raise Ksh100 billion amid budget crisis

Sacco ReviewAugust 7, 202505 mins

The National Treasury has accelerated plans to sell a majority stake in Kenya Pipeline Company (KPC) as it seeks to raise Ksh100 billion to ease mounting financial pressure. The move comes as the government struggles to access funds from development partners and development finance institutions, prompting a shift toward privatization of profitable state corporations. Under…

Gov’t targets Narok, Bomet, Kericho and Nandi counties in coffee revival campaign

Sacco ReviewAugust 7, 202504 mins

The government has intensified efforts to revive Kenya’s coffee industry by extending sensitization meetings to Narok, Bomet, Kericho and Nandi Counties. The meetings are part of the ongoing Revival of Coffee through the Co-operative Societies Programme, led by New Kenya Planters Cooperative Union (New KPCU) and the Ministry of Cooperatives and MSMEs Development. This nationwide…

State upholds liquidation of Moi University Sacco, cites legal constraints

Sacco ReviewAugust 7, 202503 mins

The government has confirmed that the liquidation of the Moi University Savings and Credit Society (MUSCO) will proceed, despite protests and lobbying efforts by its members and local leaders. This decision, announced by Cooperative and MSME Development Cabinet Secretary Wycliffe Oparanya, follows a legal assessment that found no grounds for reversing the Sacco’s cancellation. Appearing…

How adjustments in Central Bank Rate (CBR) affect SACCOs’ lending business

Sacco ReviewAugust 6, 2025010 mins

An adjustment to the Central Bank of Kenya benchmark rate also known as the Central Bank Rate (CBR), a tool that provides a signal to guide how commercial banks charge customers for loans, has a significant effect on the way SACCOs do their lending business. “If commercial banks lower their lending rates below those offered…