Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Active members of a cooperative are more likely to be assisted by their respective entities in case of any unforeseen challenges, a recent research study has shown. According to a Cooperative Resilience Longitudinal Study in Kenya, which was conducted for the last 5 years, about 82 per cent of cooperative members expressed certainty that if…
James Kinuthia was a member of one of the biggest Saccos in the country; he was employed and used to contribute Ksh1,000 monthly. In the year 2001, Kinuthia lost his job, rendering him unable to make the monthly deposits. Subsequently, he withdrew his deposits, receded to the village and lost contact with his Sacco. Little…
Cooperatives and MSME Development Cabinet Secretary Simon Chelugui has issued statement moments after being sacked. In a statement shared on X, Chelugui thanked President William Ruto for entrusting and giving him an opportunity to serve the people of Kenya under his administration. While quoting bible, Chelugui thanked Ruto and Kenyans and promised to support Ruto…
Senate Deputy Speaker Kathuri Murungi has called on the government to audit all private coffee millers across the country following the increasing coffee theft cases. Speaking at Kariene in Central Imenti Constituency, Kathuri who is also the Meru Senator urged the ministry of agriculture to move with speed and collect data on source and volumes…
KCB Bank Kenya Limited has issued a response to the queries raised by the Office of Auditor General on Financial Inclusion Fund (Hustler Fund). Auditor General Dr Nancy Gathungu had issued a disclaimer opinion, citing inconsistencies in the management of the fund. Through a statement from the bank Managing Director Annastacia Kimtai , the financial…
Kenya Revenue Authority (KRA) has recorded an increase in revenue by 11.1 per cent in the Financial Year 2023/2024 up from 6.4 per cent in the previous financial year. The authority collected KSh2.407 trillion compared to KSh2.166 trillion in the previous financial year. KRA says the performance translates to a performance rate of 95.5 per…
Cabinet Secretary Ministry of Cooperatives and MSME Development Simon Chelugui has maintained that no money has been lost from Financial Hustler Fund. The CS who issued a press statement on Tuesday July 9 said the Ministry has all documentation in connecting with the loans issued through Hustler Fund. Auditor General Dr Nancy Gathungu had issued…
Faulu Microfinance Bank has secured more than KSh 900 million from its parent company, Old Mutual, to enhance its operations and revamp its business model for sustained growth. The company plans to utilize the funds to expand its digital banking services and to realign its distribution channels and human resources to promote sustainable growth. Faulu…
The United Kingdom (UK) Multinational James Finlay has written a letter requesting the removal of John Chebochok from his position as Director of Toror Tea Factory, a Kenya Tea Development Association (KTDA) factory. In a letter signed by Ben Woolf addressed to Enos Njiru Njeru, Wilson Muthaura of KTDA dated July 1, 2024 and seen…
The government is now aiming to have Kenyans embrace saving culture for betterment of their financial well-being. Cooperatives Principal Secretary Patrick Kilemi says more than 18 million Kenyans are not in cooperatives and the government is pushing to have them save the little they make through cooperatives. The PS says they are encouraging Kenyans to…
