Sacco Member – Page 12 – Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Council of Governors to submit views on Cooperatives Bill 2024

Sacco ReviewMay 20, 202404 mins

Council of Governors has presented a technical working group to give input on the Cooperatives Bill 2024 which is currently in Parliament. The governors led by Bungoma Governor Kenneth Lusaka, who is also the chairman of the Agriculture, Livestock and Cooperatives in the COG held a consultative meeting on Thursday presided over by Cabinet Secretary,…

Assent Sugar Bill into law, Suba North MP urges President Ruto

Sacco ReviewMay 20, 2024May 20, 202404 mins

Leaders drawn from sugarcane growing belt have called on the President William Ruto to assent into law the Sugar Bill that has now passed its first and second reading at the National Assembly and Senate. Suba North MP Caroli Omondi said with the passing of the bill, farmers were bound to benefit fully from cane…

Sheria Sacco members stopped from guaranteeing more than two loan applicants

Sacco ReviewMay 19, 2024May 19, 202402 mins

Sheria Sacco has stopped members from guaranteeing several members. Sacco chairperson, Deputy Chief Justice (DCJ) Philomena Mwilu has said it will curb loss of funds through defaulted loans. The official noted previously, a member could guarantee several members and the Sacco lost funds. “Last year, the Sacco lost KSh78 million, a member can only guarantee one…

New Sacco launched in Kilifi to empower women financially

Sacco ReviewMay 19, 2024May 20, 202403 mins

Kilifi Women Empowerment Cooperative Society (KWECOS) launched a Sacco recently aimed at fostering financial growth and empowerment members. KWECOS chairperson Ephie Wesa said the formation of the Sacco will empower women who have facing financial challenges in the county, urging them to join the Sacco in numbers. Speaking during the launch the chair said they…

Taqwa Sacco records KSh27 million profit for year 2023

Sacco ReviewMay 18, 202402 mins

Taqwa Sacco has declared KSh27 million in profit for the year 2023. Also, it paid out dividends to its shareholders amounting to KSh13 million. Founded in 1998, Taqwa Sacco is Kenya’s pioneering Shariah-compliant financial institution, offering Halal credit and investment opportunities to its members. Taqwa Sacco boasts a membership of more than 13,500 individuals across…

Women leaders in Saccos sponsored to attend 2024 women’s mentorship programme in Canada

Sacco ReviewMay 18, 2024May 18, 202405 mins

Eight women leaders who were selected to participate in the 2024 Women’s Mentorship Programme (WMP) organised by the Co-operative Development Foundation of Canada (CDF Canada) will depart the country on June 20 for the mentorship programme. The Women leaders of Credit Union will benefit from international professional development and mentorship opportunities. The program will run…

Cooperatives leaders roll out activities as they gear up for Ushirika Day celebrations

Sacco ReviewMay 17, 202406 mins

Cooperatives leaders have launched activities in preparation for the upcoming International Day of Cooperatives (Ushirika) Day to be marked on July 6, 2024. The theme for this year’s Ushirika Day is “Cooperatives build a better future for all,” it will be held in Nairobi County at the KICC grounds. State Department of Cooperatives Permanent Secretary…

Passaris urges Treasury to increase tax to bar banks, Saccos from lending to government

Sacco ReviewMay 17, 202403 mins

Nairobi Woman Representative Esther Passaris has urged the National Treasury to push the 5 per cent withholding tax on the interest income earned from the infrastructure bonds to 20 per cent. She revealed this in a statement on Thursday, May 16, 2024 seen by Sacco Review where she noted that the current proposed tax will…

Co-op Bank profit increases by 8 per cent to KSh6.6 billion in first quarter

Sacco ReviewMay 17, 2024May 17, 202402 mins

Co-op Bank has released its financial report for the first quarter of this year. The report showed that the bank had a profit after tax growth of 7.7 per cent to KSh6.58 billion which is an increase of KSh470 million from KSh6.11 billion posted during last year’s first quarter. The bank also reported a profit…

Chinga Farm in Nyeri emerges best in world coffee competition held in South Korea

Sacco ReviewMay 16, 202403 mins

Cabinet Secretary, Ministry of Co-operatives & Micro, Small and Medium Enterprises (MSMEs), Isaac Chelugui, revealed on Wednesday, May 15 that Kenya’s coffee was voted as the best coffee in a global competition. The World Coffee competition (WCC) was held in South Korea at the beginning of May. The recent competition featured several companies showcasing their…