Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Opera has stopped its free data plan which allowed Kenyans to enjoy free data bundles to access the Opera, which runs the Opera Mini Browser, as a result of local authorities’ decision, including the Betting Control and Licensing Board, to halt advertising on Speed Dials (bookmarks on the start page) within browsers. According to Google,…
The Government intends to merge three major financial regulatory bodies in the country to enhance service delivery, avoiding duplication of roles and reduce bureaucracy. According to reports, Prime Cabinet Secretary Musalia Mudavadi said recently that the three regulatory bodies are Saccos Societies Regulatory Authority (SASRA), Capital Markets Authority (CMA), and the Insurance Regulatory Authority (IRA)….
There are various Saccos in the country and best strategies are needed to make a Sacco increase its membership size. Below are some of the marketing strategies. 1). Have a good website Since the internet is everywhere, website is very vital new and prospective members have access easily. Good website will boost membership. 2). Offer…
DTB Bank has opened new seven branches across the country. These include Gikomba, Eastleigh (BBS Mall), Karen Hardy, Ongata Rongai, Kapsabet, Kenol in Murang’a and Bondeni in Mombasa. The DTB Group Chief Executive Nasim Devji said the unveiling of these new branches is a testament to unwavering commitment of the lender to bring services closer…
Bamburi Cement Plc recorded a net loss of KSh399 million for the year ended December 31, 2023 compared to a net loss of KSh181 million it posted in 2022. However it raised its dividend payout to shareholders 7.3 times translating to KSh1.99 billion as a result of increased financial muscle. Bamburi CEO Mohit Kapoor said…
Ukulima DT Sacco Society has rebranded to Apstar Sacco to redefine its business model, departing from its traditional catchment of the farming community to attract youthful membership in the Micro, Small and Medium Enterprises (MSMEs) segment. Part of the vision is to offer clear and transparent financial products and services, which will be accessible to…
Jamii Sacco has recorded growth in gross revenue by 4 per cent in the year ended December 2023, rising from Ksh 657.8 million to Ksh 682.5 million. Based on the good performance in this and a diversity of other parameters, the board paid out dividends on share capital and savings at the rates of 13…
Banks paid KSh66.4 billion in shares to its members for the year ended December 31, 2023. The amount translates to a 48.9 a share of the cumulative KSh153.6 billion payouts from all counters. Equity Bank topped in paying dividend to shareholders on absolute terms at KSh15 billion translating to KSh4 a share on its over…
More than half of the 10,733 private companies involved in money laundering in Kenya are in the construction sector. This is strengthened by the unexplained capital-intensive real estate sector. The National Risk Assessment On Money Laundering and Terrorism Financing of Legal Persons and Legal Arrangements – Kenya report published by the Business Registration Service (BRS)…
Harambee DT Sacco has come up with share drive initiative to generate revenue of KSh4 billion to facilitate the expansion of the society in line with its strategic plan. All registered (both past and current) members of the Sacco are qualified to take part in the share drive. According to an information memorandum published by…
