Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Family Bank has recorded a 25 per cent growth in net profit to KSh910.5 million. This is a growth from the KSh685.3 million in the first quarter of 2023. It has also reported a profit before tax increase growth of KSh1.3 billion, a growth of 24.3 per cent as compared to the same period last…
Car and General, a Nairobi Securities Exchange-listed firm is deepening its foray into the property business with a KSh800 million mall project in Shanzu, Mombasa County. The firm intends to build the mall on four acres, with the construction set to begin next year to be completed by 2026. “We are looking to commence a…
The government is keen on paying cane farmers and staff of sugar companies who are owed money in terms of unpaid arrears. Agriculture and Food Authority (AFA) Director Samuel Ong’ow said the government has initiated payment of about KSh6.94 billion which is owed to farmers and staff of the sugar companies. Speaking in Muhoroni Ong’ow…
Meru miraa traders and residents have lauded President William Ruto and Agriculture Cabinet Secretary Mithika Linturi for dismissing and terming muguka ban in Mombasa, Kilifi and Taita Taveta counties as “null and void”. John Ratanya, a miraa trader in Makandara, Meru town, criticised the initial bans, highlighting their detrimental impact on the local economy. “It…
The Kenyan government and the United States have signed Memorandum of Understanding (MoU) on cooperation and collaboration on the coffee value chain and other identified areas of mutual interest. The MoU between the Ministry of Co-operatives and MSMEs Development (Kenya) and National Co-operative Business Association NCBA-CLUSA (US) were signed during the US Kenya Business Forum…
Management committees running the various coffee cooperative societies in Machakos County, have been cautioned against mismanagement and plunder of farmers’ cash from the coffee proceeds. Machakos Deputy Governor Francis Mwangangi said on Friday, May 24, that the rampant reports of numerous cooperative societies in the county sinking into huge debts from financial institutions were worrying….
Diamond Trust Bank (DTB) net profit for the first quarter of this year grew by 8.6 per cent , reaching KSh2.62 billion, driven by growth in both interest and non-interest income. The company’s net earnings grew from KSh2.42 billion that had been posted during the correspondent quarter of last year. Net increased income, mainly derived…
Cabinet Secretary of ICT Eliud Owalo has revealed that over 300,000 youths have been trained, and more than 1,000 digital jobs created since the start of digitalization programme year ago. Owalo remains optimistic that within the next two years, two million digital jobs will be generated. He further stated that ICT offers abundant job opportunities…
Citibank NA has scooped the best bank in the country at the Think Business Banking Awards 2024 with Standard Chartered and Equity came in at position two and three. Citibank also was named the best inb corporate banking, internet banking and product innovation categories. I&M Group PLC was recognized as the best customer-centric bank, and…
In 2023, Westlands attracted more office and real estate investors compared to other regions in the Nairobi Metropolitan Area (NMA) thus raising its rental yields. This was largely contributed by attractive business atmosphere and good road network. The average rental yields were 8.5 per cent which is 0.8 per cent higher than the average market…
