Top News – Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

State rejects SACCOs request to pay interest and dividends from loans

Sacco ReviewFebruary 19, 202604 mins

The Cabinet Secretary for Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Wycliffe Oparanya has raised concern over growing financial mismanagement within savings and credit co-operative societies (SACCOs), warning that some institutions are pressuring the ministry to allow them to declare interest on deposits and dividends without adequate revenues or cash flows to support the…

Oparanya warns dormant, non-compliant SACCOs to face deregistration in sector cleanup

Sacco ReviewFebruary 18, 202606 mins

The Cooperatives and Micro, Small, and Medium Enterprises (MSMEs) Development Cabinet Secretary Wycliffe Oparanya has warned that dormant and non-compliant SACCOs face deregistration and liquidation in accordance with the law. Speaking during the opening of the 11th Annual SACCO Leaders Convention organized by Kenya Union of Savings and Credit Co-operatives (KUSCCO) Limitedd at the PrideInn Hotel…

Ruto calls for Sacco overhaul to improve governance, technology

Sacco ReviewFebruary 12, 202602 mins

President William Ruto has called for transformation of Savings and Credit Cooperative Organisations (SACCOs) into stronger, more efficient institutions that directly benefit Kenyan communities. Speaking at State House in Nairobi, after receiving a report from experts who reviewed the governance and operations of SACCOs, President Ruto said there is need for SACCOs to modernize systems,…

Detectives arrest University drop out for allegedly hacking microfinance siphoning Ksh11Million

Sacco ReviewFebruary 12, 2026February 14, 202603 mins

Detectives from the Banking Fraud Investigation Unit (BFIU) have arrested and arraigned former Meru University student Seth Mwabe Okwanyo for allegedly orchestrating a fraudulent scheme that siphoned off Ksh11.4Million from a leading microfinance institution. The 26-year-old self-trained cybersecurity engineer arrest follows a formal complaint lodged by the Microfinance institution, detailing a shocking incident that occurred…

Limlak SACCO invites contractors ahead of FOSA and HQ construction

Sacco ReviewFebruary 10, 202602 mins

Limlak Savings and Credit Cooperative Society (SACCO) has invited interested contractors to submit Expressions of Interest (EOI) and pre-qualification documents ahead of the planned construction of its Front Office Service Activity (FOSA) and headquarters building. In a notice issued by the SACCO, Limlak directed interested contractors to download the EOI and pre-qualification forms through the…

TNT SACCO holds financial literacy workshop ahead of 50th anniversary

Sacco ReviewFebruary 10, 2026February 10, 202603 mins

TNT SACCO has held a Members Empowerment Workshop aimed at strengthening financial literacy among its members as the cooperative prepares to mark its 50th anniversary next year. The workshop, themed “Saving for Investment,” brought together members from Turkana, Kachibora, Kiminini and Endebess, focusing on savings discipline, investment planning and long-term wealth creation. Financial management expert…

Mentor Sacco AGM pays Ksh1.64 billion member returns

Sacco ReviewFebruary 10, 2026February 12, 202602 mins

Mentor Sacco Society Limited has paid member returns totaling Ksh1.64 billion, including a 15 per cent dividend on share capital and 12.5 per cent interest on non-withdrawable deposits, following a strong financial performance in 2025. The payment was announced during the Sacco’s 49th Annual General Meeting (AGM) held on January 31, 2026, in Murang’a, where…

Gov’t appoints Wanjohi as interim KUSCCO CEO to stabilise the organization

Sacco ReviewFebruary 5, 202604 mins

The government has appointed CPA Peter Wanjohi Kiama as the interim Chief Executive Officer of Kenya Union of Savings & Credit Cooperatives (KUSCCO) Limited as part of efforts to stabilise the organization. Kiama has been seconded from the State Department for Cooperatives, where he previously served as Deputy Commissioner for Cooperative Development. He will take up…

Sugar workers suspend strike after Govt, Union agree on arrears payment process

Sacco ReviewFebruary 3, 2026February 4, 202604 mins

The sugar factory workers has suspended their nationwide strike following high-level talks held between the Government and the Kenya Union of Sugar Plantation and Allied Workers (KUSPAW), chaired by CS Mutahi Kagwe. The industrial action, which began on January 29, 2026 and affected Muhoroni, Nzoia, Sony and Chemelil sugar factories, was triggered by unpaid salary…

CBK warns against damaging Kenya shilling notes for decorative purposes

Sacco ReviewFebruary 3, 202603 mins

The Central Bank of Kenya (CBK) has cautioned the public against using Kenya Shilling banknotes for decorative or celebratory displays, warning that the growing trend of creating cash flower bouquets and similar arrangements damages currency and disrupts cash processing. In a public notice issued on Monday, the CBK said it has observed increasing use of…