Regional - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Government asked to waive debt owed by cooperative societies in Machakos

Sacco ReviewMay 25, 2024May 25, 202402 mins

Machakos Deputy Governor Francis Mwangangi has made a strong appeal to the national government to waive the long-standing debts that are hindering the operations of cooperative societies within Machakos County. Speaking at a meeting with the Kwa Mating’i Farmers Cooperative Society in Matungulu, Mwangangi highlighted the severe impact of these debts. “Many cooperative societies are…

Mi Vida Homes partners with Misitu Sacco to foster growth

Sacco ReviewMay 24, 202403 mins

Mi Vida Homes, a reputable property developer signed a partnership with Kimisitu Sacco and has allowed the members to invest in its residential projects in Garden City, Nairobi. The Garden City Project sits on a 47-acre land with a mixed-use urban development comprising residential units commercial spaces, offices, retail outlets, and recreational amenities. It offers…

NSSF Sacco launches 2024-2028 Strategic Plan, new logo

Sacco ReviewMay 24, 2024May 24, 202404 mins

Simon Chelugui Cabinet Secretary, Ministry of Co-operatives Micro, Small and Medium Enterprises Development (MSMEs) was the chief guest today during the launch of NSSF Sacco Strategic Plan (2024-2028) and New Logo at the Radisson Blu Hotel, Nairobi. The launch is aimed at promoting innovative, commercially oriented and efficient financial services is engraved at NSSF Sacco…

I&M Bank records KSh3.3 billion profit in first quarter

Sacco ReviewMay 24, 202404 mins

I&M Group’s first quarter report of this year shows that the bank has a profit of KSh3.32 billion, an increase of 31 per cent from the KSh2.5 billion recorded last year. Interest income, which grew by 38 per cent to KSh8.8 billion, greatly influenced the profit growth. The growth in net interest income offset a 9.4…

Cooperatives in Nakuru to benefit from KCB Chama APP

Sacco ReviewMay 24, 2024May 24, 202402 mins

Kenya Commercial Bank (KCB) Nakuru Branch has developed KCB Chama App that aims to assist cooperatives and Chamas on handling finances, taking loans or saving towards an a goal. KCB Nakuru Branch Manager Christine Keter while speaking in Nakuru on Thursday, May 23, 2024 where she led a team from the lender in a meeting…

Nyanza governors distance themselves from upcoming investment conference

Sacco ReviewMay 23, 2024May 23, 202405 mins

Six governors from the Nyanza region have distanced themselves from a scheduled Nyanza International Investment Conference, expected to take place next month. The Governors’ namely Anyang Nyong’o of Kisumu, James Orengo (Siaya), Amos Nyaribo (Nyamira), Simba Arati (Kisii), Gladys Wanga (Homa Bay) and Ochilo Ayacko of Migori all said they have been sidelined in the…

Airbnb operators in Western Kenya put on notice

Sacco ReviewMay 23, 202407 mins

More than 70 per cent Airbnb operators in Western Kenya tourism circuit are not paying the 2 per cent tourism levy as the law stipulates. Tourism Act, requires various entities offering accommodation services to remit levies based on income generated every month. The levy payable is two per cent of income generated per month for accommodation, and…

KCB Bank grows first quarter profit by 53 per cent to KSh16 billion

Sacco ReviewMay 22, 202403 mins

Kenya’s KCB Group’s pretax profit for the first quarter of this year jumped 53 per cent, assisted by higher interest income, it announced on Wednesday, May 22. The lender, which also operates in Uganda ,Tanzania, Democratic Republic of Congo, Rwanda, South Sudan, and Burundi, said pretax profit rose to KSh21.16 billion from KSh13.85 billion in the…

Laikipia’s Ushanga Cooperative showcases Kenyan attire in Atlanta, US

Sacco ReviewMay 22, 202402 mins

Laikipia based Sossian Ushanga Marketing Co-operative Society Ltd took the opportunity to showcase Kenya’s rich cultural heritage globally. The society with more than 700 members, took the opportunity during the President William Ruto US state visit. The Retail Store that has ‘Made in Kenya’ brands in Atlanta, Georgia, US.Laikipia MP Jane Kagiri said the women…

New KSh104,000 per night luxury hotel to start operations in Kenya on July 1

Sacco ReviewMay 22, 2024May 22, 202402 mins

Virgin Limited Edition plans to establish Finch Hattons Luxury Safari Camp in Kenya in July this month. The camp which will be located at Tsavo National Park, joins the list of other prestigious properties under Virgin Limited Edition such as Mahali Mzuri and Ulusaba Private Game Reserve. This will be its ninth property globally and…