Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
Nairobi county Governor Johnson Sakaja has said his administration is currently reviewing the County Cooperative Act to incorporate a hustler Sacco that will bring on board all small scale traders in Nairobi. “We are reviewing our policy so that we can have the first hustler Sacco in Nairobi County so that small scale traders, hawkers and hustlers can…
Nafasi DT Sacco recently rebranded from Nafaka Sacco so as to open up the market through new products which target various sectors of the economy. Speaking during the rebranding and opening of the Sacco’s first branch at Shujaa Mall in Kayole, Sacco chairman Koech Mwerey said the new branch is a great milestone for the…
Mwalimu National Sacco in partnership with Kenya Mortgage Refinancing Company (KMRC) has unveiled low mortgage loan facilities to give affordable housing to members. The Sacco, which is Africa’s largest Sacco by assets, unveiled the affordable housing loan products at Mwalimu National Towers in Upper hill in a colourful event graced by Simon Chelugui, Cabinet Secretary…
By Roy Hezron Nairobi City County is planning to allocate Ksh 866.7 million over the next five years to the state department of cooperatives to be used for cooperative development and audit. The move is also to facilitate the growth of a vibrant cooperative movement with financially strong and well managed cooperatives in the…
