Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Kamundia Muriithi Twenty-four co-operative societies in Embu County are struggling to pay a Sh90 million loan borrowed five years ago to set up a coffee mill that has since stalled. The debt has ballooned to Sh127 million as most societies are unable to service the loan. Each society was to pay Sh3.8 million, while…
By Benedicto Ng’etich Kericho County Director of Cooperatives Leonard Otii has advised Saccos affiliated to giant multinationals to device other means of survival in the face of dwindling membership. Otii expressed fear over the survival of the societies after the parent companies started early retirements of employees due to what has been seen as the…
By Kamundia Muriithi Twenty-four co-operative societies in Embu County are struggling to pay a Sh90 million loan borrowed five years ago to set up a coffee mill that has since stalled. The debt has ballooned to Sh127 million as most societies are unable to service the loan. Each society was to pay Sh3.8 million, while…
By Andanje Wakhungu Residents of Kakamega County have been urged to form more cooperative societies to their livelihood activities. Speaking during the launch of Machesi Cooperative Society in Mugai /Shirugu ward, cooperative officer, William Muchiti, said cooperative societies was the only way forward for the residents to be able to sustain development in the area….
By Rosemil Oduor Vihiga Governor Wilber Ottichilo has supported plans by boda boda operators in his county to form savings and credit cooperative society. Otichillo urged the operators to also engage in other income generating activities like small scale farming ,growing tissue culture bananas, indigenous vegetables, rearing poultry and livestock. He also said his government…
By John Majau A worldwide coffee roasting company, Illy Caffe Spa, has shown interest in buying coffee from Meru County. The company’s coffee buyer, Stefano Scanferla, recently visited Meru County Coffee Millers Co-operative Union (MCCMCU) for a fact finding mission. MCCMCU is the only coffee union licensed to mill coffee and market at the same…
By Erick Nyayiera Siaya County government is seeking to formulate a legislation that will legalize the production, sale and consumption of chang’aa. According to the County’s Executive Committee member for Enterprise and Industrial development Jaoko Oburu, they have already established a liquor directorate that is currently checking on the required standards before they can legalize…
By Andanje Wakhungu The County Government of Kakamega will spend over Sh 380 million in the purchase and distribution of subsidized maize and fertilizer to farmers. Deputy Governor Professor Philip Kutima stated that it was time the county started looking for alternative sources of income apart from the maize and cane farming. “We have already…
Sacco paid dividends at 4% this year while interest on deposits at 5.5% this year. By Jackson Okoth A change in its executive suite, which saw the recruitment of a new Chief Executive Officer as well as Head of Finance, Investment and Strategy, combined with surgical spending cuts, is finally paying off for the giant…
By Erick Nyayiera Individuals who are self-employed in Siaya County have been encouraged to embrace the culture of saving for retirement as a security measure for their old age. According to Retirement Benefit Authority (RBA) Cooperate Communication Manager Rose Kwena, those in self-employment should ensure they join the various private and occupational pension schemes to…
