SACCO
Fred Sitati, Co-operative Movement Consultant

Cooperatives Bill should reflect proposals in Sessional Paper No 4 of 2020

The enactment of the Cooperative Societies Act, No 39 of 1966 was the outcome of the Sessional Paper No. 10 of 1965 on “African Socialism and its Application to Planning in Kenya”, while the subsequent enactment of the Cooperative Societies Act, No 12 of 1997 (Amendment 2004) was anchored on the Sessional Paper No. 6…

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Equity Bank's Chief Executive Officer James Mwangi.

How banks paid dividends to members in 2024

Banks paid KSh66.4 billion in shares to its members for the year ended December 31, 2023. The amount translates to a 48.9 a share of the cumulative KSh153.6 billion payouts from all counters. Equity Bank topped in paying dividend to shareholders on absolute terms at KSh15 billion translating to KSh4 a share on its over…

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Harambee Sacco CEO, Dr George Ochiri.

Harambee Sacco new shares offer seeks KSh4 billion for expansion

Harambee DT Sacco has come up with share drive initiative to generate revenue of KSh4 billion to facilitate the expansion of the society in line with its strategic plan. All registered (both past and current) members of the Sacco are qualified to take part in the share drive. According to an information memorandum published by…

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Stima DT Sacco Society Limited National Chairman Eng Albert Mugo.

Stima Sacco bonanza drives shareholder payouts to new record of 15 per cent

Stima DT Sacco Society Limited has delivered a strong fiscal report as seen in its latest financial statements to pay members dividends at a rate of 15 per cent and rebates at 11 per cent. The permutations translated to a total payout of KSh4.06 billion compared to KSh3.56 billion in 2022. According to the Sacco’s…

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Kileleshwa Estate in Nairobi. Photo:courtesy

Report shows an acre of land in Nairobi suburbs hit record high of KSh203 million

Land prices in Nairobi’s suburbs defied tough economy to increase by 1.3 per cent per acre on average in the first quarter of 2024, shows HassConsult’s latest land price index. According to the report, average price per acre in the satellite estates now is KSh203.7 million, surpassing the KSh200 million mark for the recorded in…

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Machakos Governor Wavinya Ndeti speaks during roundtable meeting with investors at the Machakos International Conference Centre on April 17. Photo;courtesy

Governor Wavinya urges investors to seize opportunities in Machakos

Machakos Governor Wavinya Ndeti has urged both local and international investors to take advantage of the numerous investment opportunities, ample returns on investment and improved business environment in the county. Speaking on April 17 at the Machakos International Convention Centre when she hosted investors in a round table meeting attended by Cabinet Secretary for Investment,…

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Head of Risk and Compliance at the Kingdom Bank Moses Kariuki (right), receives the bank's ISO certification. Photo: Obegi Malack

New milestone as Kingdom Bank receives ISO Certification

Kingdom Bank, a subsidiary of the Co-operative Bank of Kenya reached yet another milestone in their relentless quest to provide world class service to their clientele by attaining the International Organization for Standardization/International Electrotechnical Commission (ISO/IEC 27001:2022) certification. ISO prestigious accreditation underscores the bank’s unwavering dedication to ensuring the highest standards of information security management….

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Nairobi Security Exchange.

Higher returns for coffee farmers as NCE prices soar

The ongoing coffee reforms are bearing fruit as prices at the Nairobi Coffee Exchange (NCE) shoot up to all-time highs, the last week of February auction has given the solid proof. During the week’s auction on February 27, 2024, the prices rose to $9 million (approximately KSh717. 5 million), with action volume increasing to KSh1.3…

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Jubille Insurance Chief Operating Officer Njeri Jomo.

Jubilee Insurance raises shareholder payouts after stronger profit

Jubilee Health Insurance posted a net profit of KSh438.6 million for the Financial Year ended December 2023 representing a 29 per cent increase from the KSh339.1 million recorded in 2022. The insurer’s Chief Operating Officer Njeri Jomo, said the organization realised a three-fold increase in cash flows generated from operations. She added, “As a company…

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Cabinet Secretary for Information, Communications and the Digital Economy, speaks at the Aga Khan University’s Digital Transformation Conference on April 17.

286,000 locally assembled phones sold since October 2023, says CS Owalo

Some 268, 000 government-backed locally assembled smartphones have been sold to Kenyans since the first consignment was unveiled to the market end of October last year. The figure translate to 80 per cent of the 330, 000 phones assembled. Cabinet Secretary for Information, Communications and the Digital Economy, Eliud Owalo speaking at Aga Khan University’s…

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