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

Government plans to roll out new Co-operatives Act on Ushirika Day

Sacco ReviewMay 31, 2024May 31, 202403 mins

Cooperatives and Micro and Small Enterprise said development Cabinet Secretary Simon Chelugui government plans to roll out a new Co-operatives Act during this year’s Ushirika Day celebrations. Chelugui said Cooperatives Bill No. 7 of 2024 overcame last challenge following an agreement between the Ministry and the Council of Governors on contentious and emerging issues. Chelugui…

Waumini Sacoo advertises vacancy for Credit Manager

Sacco ReviewMay 31, 202403 mins

Waumini Sacco is currently seeking to fill the position of Credit Manager. The credit manager will report to Chief Executive Officer and will be responsible for the growth of the Society’s loan portfolio while ensuring quality and health loan book is maintained. The successful candidate will oversee the expansion of the Society’s loan portfolio, while…

Jubilee Insurance announces job opportunities

Sacco ReviewMay 31, 202401 mins

Jubilee Insurance has advertised vacancies for four jobs including Audit, Risk & Compliance Officer, Business Development Officer, Senior Accountant, Financial Reporting and Chief Distribution Officer. The closing date for all vacancies is June 2, 2024. Please visit the https://jubileeinsurance.com/ke/careers/ for more information. Founded in 1937, Jubilee Holdings Limited (JHL) has over over 1.9 million clients…

United Nations Sacco posts KSh2.2 billion income in 2023 enhanced by affordable loans

Sacco ReviewMay 31, 202403 mins

United Nations Sacco posted remarkable financial results in 2023 with the firm’s total revenue increasing by 13 per cent, hitting a record KSh2.197 billion. This was achieved as a result of increase in interest on loans and advances, reduced expenditure and investment income. A total of KSh1.3 billion was given to members in the form…

Kisumu to kick-start KSh5 billion affordable housing project

Sacco ReviewMay 30, 2024May 30, 202406 mins

The Anderson Affordable Housing Project in Kisumu County is now set to kick off in earnest after LAPTRUST and the County Pension Fund (CPF) in collaboration with the county government broke ground. The landmark event will see the construction of over 1,200 decent and affordable housing units. It is designed in line with both the…

Jubilee insurance to make record KSh1 billion dividend payout

Sacco ReviewMay 30, 202405 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…

Absa Bank records strong first quarter profit growth

Sacco ReviewMay 30, 202404 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…

Woccu accepting applications for 2024 scholarship for women, young professionals

Sacco ReviewMay 30, 2024May 30, 202404 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…

Family Bank posts KSh910.5 million profit in first quarter

Sacco ReviewMay 29, 2024May 29, 202404 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…

Car & General set to build KSh800 million mall in Shanzu

Sacco ReviewMay 29, 202405 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…