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

New KPCU disburses KSh52 million to coffee farmers, Machakos gets lion’s share

Sacco ReviewMay 15, 2024May 15, 202403 mins

Ministry of Cooperatives and MSME Development has disbursed KSh52,212,976 Coffee Cherry Advance Revolving Fund (CCARF) to 3328 coffee farmers across 15 counties Cooperatives Cabinet Secretary Simon Chelugui indicated in statement on Tuesday that the funds were released between May 6, 2024 and May 13, 2024 through New Kenya Planters Cooperative Union (KPCU). A total of…

CIC profits increase by 818 per cent to KSh1.4 billion in 2023

Sacco ReviewMay 15, 202402 mins

CIC Insurance Group’s 2023 profit after tax increased by 818 per cent of Sh1.4 billion as a result to the improved investment income and growth in insurance revenue. “The business maintained a growth trajectory driven by the execution of our transformational initiatives focusing on customer experience, performance management, operational efficiency, digital transformation, research and innovation,…

Kajiado Cooperatives urged to learn from well-established Saccos

Sacco ReviewMay 15, 2024May 15, 202404 mins

Kajiado County Executive Committee Member (CECM) for Gender, Co-operatives, Culture, Tourism, and Wildlife, Janet Sereu has encouraged upcoming self-help groups and Saccos to enhance their governance by learning from well-established Saccos. The committee member who attended Ongata Rongai Muungano Women Housing Cooperative Society 5th Annual General Meeting in Ongata Rongai Kajiado North Sub-county noted that…

Public Service Commission announces 19 job vacancies in Cooperatives Ministry

Sacco ReviewMay 14, 2024May 14, 202402 mins

The Public Service Commission (PSC) has advertised 19 positions for several vacant posts in the Ministry of Co-operatives and Micro, Small and Medium Enterprises (MSME) Development. In announcement seen by Sacco Review, PSC announced that there are three vacancies for the Senior Deputy Commissioner for Co-operative Development post under Civil Servant Grade (CSG) 5. For…

CIC insurance named Kenya’s fastest growing brand

Sacco ReviewMay 14, 202402 mins

In an incredible year for Kenyan brand growth, CIC Insurance Group emerged as the fastest-growing brand, with a 63 per cent increase in brand value to KSh1.9 billion. This growing is predominantly attributed to its increased Brand Strength Index score of 82.98, indicating enhanced customer perceptions and heightened brand strength. CIC Insurance Group’s AAA- rating…

Chaos erupts at company’s Annual General Meeting over KSh100 million

Sacco ReviewMay 13, 202403 mins

During the Kasigau Ranching Company Annual General Meeting (AGM) which was took place on Friday, May 10, disputes arose as shareholders were not pleased by the Board of Directors and how they spent the company’s finances. The more than 3750 shareholders rejected the company auditor and secretary reports which they described biased and inaccurate. READ…

Equity Group first-quarter pretax profit rises to KSh20.4 billion

Sacco ReviewMay 13, 202403 mins

Kenya’s Equity Group announced today Monday, May 13, that its first-quarter pretax profit rose 21 per cent to KSh20.4 billion, helped by growth in interest income. Equity, which also operates in Tanzania, Uganda, Rwanda, South Sudan, Burundi and Democratic Republic of Congo, said its net interest income increased to 28 per cent, translating to KSh27.8 billion….

Bread, M-Pesa hit in new KSh323 billion government tax plan

Sacco ReviewMay 13, 202402 mins

The National Treasury plans to introduce VAT on bread and increase excise taxes on M-Pesa, bank transfers and airtime as it seeks to collect an additional KSh323 billion in taxes in the next financial year. According to newly published Finance Bill Kenyans will pay 16 per cent value added tax (VAT) on bread at least…

Cooperatives Cabinet Secretary leads tree planting in Murang’a

Sacco ReviewMay 12, 202406 mins

Cabinet Secretary, Ministry of Co-operatives & Micro, Small and Medium Enterprises (MSMEs) Simon Chelugui on Friday, May 10, spearheaded tree planting at Kangari in Kigumo, Murang’a County in line with President Williams Ruto’s directive to mitigate against climate change. Chelugui was welcomed by the area administrators. “In line with President @WilliamsRuto’s directive setting aside May…

Mpesa Foundation holds free medical camp in Mathare North Sub-county today

Sacco ReviewMay 11, 202403 mins

A free medical camp organised by the Mpesa Foundation and in partnership with Zuri Health hold today, May 11, at the Drive-in Primary School in Mathare North Sub-county in Nairobi. Residents will benefit from the free medical check-ups, physician consultations, eye and dental check-ups, blood sugar tests, blood pressure measurements, body fat assessments, and Body…