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TANGAZOLETU 2.0 LIMITED SPONSORS INNOVATIONS WORKSHOP

Tangazoletu 2.0 Limited, one of the leading service IT service provider in the country, has organised an innovations workshop for Saccos in Nyeri county on May 10th, 2019 The workshop to be held at Nyeri’s Green Hills hotel, has the objective of bringing together to discuss trending innovations and adoptions, security and benefits to business processes. Some of the Saccos ...

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Co-ops plan to invest heavily in housing sector

By Stephen Makabila Under the Big 4 Agenda of President Uhuru Kenyatta’s last five years in office ahead of his retirement in year 2022, the co-operative sector is expected to be instrumental in the achievement of these agenda namely- Food Security, Affordable Housing, Manufacturing and affordable Health Care for all. The Co-operative sector is supposed to play a major role ...

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Members’ lethargy fuelling corruption in Saccos-Official

By Azael Masese Failure by co-operative members to interrogate the performance of their respective organisations has been identified as a weakness that needs urgent remedy. Intriguingly, this happens even in Savings and Credit Cooperative Organisations (Saccos) where majority of the members are the elite, leading to embezzlement of members’ savings. State Department of Co-operatives Senior Deputy Commissioner Geoffrey Njang’ombe disclosed ...

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Govt targets Saccos in money laundering

By Munene Maina The Government has moved with speed to avert money laundering within savings and credit societies. At a time when several banks were implicated in the infamous National Youth Service scandal for violating the law leading to loss of billions of public money, the Government wants to seal all loopholes that may allow corrupt individuals to launder their ...

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Amica Sacco rolls out ICT money transfer platforms

By Kage Njoroge Amica Savings and Credit Society, one of the fastest growing Saccos, has urged its customers to embrace emerging technologies and transact their business on the Sacco’s ICT money transfer platforms for their convenience. Amica Sacco’s management calls on its clients to take up technology based alternative channels to access quick services, without wasting valuable time going for ...

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How Saccos can tame the rising cases of loan defaults

The recent revelation by the Senior Deputy Commissioner, State department for Co-operatives Geoffrey Njang’ombe that loan defaulters owe Saccos over Sh8 billion does not augur well for the sector. Ridiculously, these loans have not been serviced over several years yet the defaulters are still earning their monthly incomes apart from owning assets worth billions of shillings. In recent times loan ...

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Jamii Bora Bank inks homes deal with Capital Sacco

By John Majau Jamii Bora Bank and Capital Sacco have partnered in a bid to provide affordable housing for its members. The two financial institutions signed a Memorandum of Understanding in Meru town recently. During the initial stages the two institutions will target 10,000 members of the Sacco with the feasibility study focusing on the initial group of 2,000 beneficiaries. ...

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Others fear holding up funds in investments

UN Sacco, one of the most liquid in the industry, has also decided to play safe. “Our investment wing is still a baby. So what we concentrate on is buy land on behalf of the members. We then seek out those interested for them to contribute and acquire the plots. We do not commit Sacco funds but put out an ...

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