Unaitas eyes bank status

By Our Reporter Unaitas Sacco, which recently opened its 25th branch in Kisumu city, is eying to become a fully-fledged commercial bank. Unaitas Chairman Joseph Kabugu said the institution has invested Sh700 million on infrastructure upgrade in readiness for commercial banking. “We are ready to go, even if the licence was to be granted today….

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Saccos ordered to produce audit reports

By Erick Nyayiera Kisumu County Government’s department of co-operative development has ordered all cooperative societies in the region to produce audit reports or risk punitive action. County Executive Committee Member in charge Business, Industrialization and Energy Alice Moraa deplored a tendency adopted by Saccos where they produce doctored audited reports that do not depict the…

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Seek cheap loans from giant Saccos, small co-ops advised

By Erick Nyayiera Small co-operatives operating in Nyanza and Western region have been urged to consider exploiting loaning facilities from the giant Sacco organisations to maximise productivity. Western regional Chairman Ushuru Sacco Owuor Awuor regretted that most Saccos in the western and Nyanza region have suffered exploitation from the commercial banks who charge huge interests…

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Co-ops urged to work together

By Our Reporter Saccos in Kisumu have been urged to participate in county cooperative forums for exchange of ideas and bonding. County Ushirika Council chairman Edward Matoke  also said the cooperatives should also work hand in hand with county government to be more productive. He challenged the county cooperatives to have ball games and other…

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Farmers told to establish agribusiness saccos

By Erick Nyayiera Farmers in Siaya County have been encouraged to establish more agribusiness Savings and Credit Co-operative societies (Sacco’s) to enhance their socio-economic development. Bondo Sub-county Director of Co-operatives Aineah Ayamba said Siaya County will only develop if farmers can move from traditional forms of co-operative societies which only dealt with specific crops such…

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Societies urged to improve share capital, deposits

By Azael Masese Savings and Credit Co-operative Societies in Machakos County have been urged to conduct aggressive marketing campaigns to increase their business volumes. County Co-operative Officer Joe Maina  noted that critical among them is to improve on their share capital and deposits. Despite the societies’ closeness to Nairobi and the commercial opportunities it presents,…

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