Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
The National Assembly Committee on Trade, Industry and Cooperatives has summoned two Kenya Revenue Authority (KRA) officials to shed more light on the surroundings that led to the release of 20,000 tonnes of condemned sugar to the market. Led by Chairperson James Gakuya (Embakasi North MP), the members questioned suspended Mombasa KRA Customs Warehouse Manager…
The Nairobi Coffee Exchange (NCE), yesterday, received the highest number of bags since the implementation of the new coffee regulations. Co-operatives registered 11,432 bags of coffee for the Tuesday auction. They included 612 bags of AA, 164 PB bags and 3,931 AB bags categorized as clean coffee. The coffee comes from 549 cooperatives and estates…
Peter Gikonyo, the Chairman of the Nairobi Coffee Exchange (NCE), has revealed that five coffee marketers are set to showcase 6,369 bags of coffee at the inaugural sale of the 2023-2024 coffee crop. He noted that there will be 37,636 kilograms of pristine AA-grade coffee and 201,197 kilograms of AB-grade coffee. The chairman stated that…
Pomp and color marked the launch of Hazina Sacco satellite office in Siaya town meant to cater for the fast-growing clientele in the area. Sacco National Chairman Mr Evans Kibagendi said the management opted to make the Siaya office a fully-fledged facility after realizing the potential the area has. He revealed that the branch members…
Deputy Vice Chancellor Finance Planning and Administration at the Co-operative University of Kenya (CUK) and career cooperator Prof Esther Gicheru has called for mergers in the co-operative sector if better governance and management have to be achieved. In her presentation titled ‘The Contribution of the Cooperative Business Model in Development: Practices and Opportunities’ to the…
Detectives from the Directorate of Criminal Investigations (DCI) have arrested nine employees of Njiwa Savings and Credit Co-operative (Sacco) Society in connection with the disappearance of Ksh160 million from Sacco savings. In a statement through its official twitter handle this morning September 23, 2023, the DCI noted that the employees belonging to staff of the…
Tembo Sacco is selling Tembo Co-op House, a commercial building located along Moi Avenue in Nairobi. The sale is being facilitated by Tysons Limited. The property is a solid construction fully occupied and let to stable tenants, has ground floors with shops as well as seven upper floors with offices. The property has a reliable…
All Cooperatives will in future become federations and subscribe to an apex body, Kenya Union of Savings and Credit Cooperatives (KUSCCO) Group Managing Director George Ototo has hinted. A restructured Cooperative sector will ensure sustainability and viability as it will solely depend on the subscription of the cooperative members. “The economic participation of our business…
Ports Sacco, formerly Mombasa Port Sacco, has opened a new branch in Nairobi at the Inland Container Depot (ICD) in Embakasi as it targets to reach more customers. The microfinance institution has plans to expand to all the 47 counties in Kenya as part of its commitment to resolve and adapt to meeting the changing…
Cooperative sector practitioners have expressed concerns over the manner in which Saccos and cooperatives are declaring dividends and interest on deposits, as well as honoraria payments. Through Kenya Society of Professional Co-operators (KSPC), the practitioners observed that there are a lot of malpractices among cooperatives in the way dividends, interest on deposits and honoraria are…
