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

No coin of Hustler Fund has been lost, CS Chelugui says

Sacco ReviewJuly 9, 202406 mins

Cabinet Secretary Ministry of Cooperatives and MSME Development Simon Chelugui has maintained that no money has been lost from Financial Hustler Fund. The CS who issued a press statement on Tuesday July 9 said the Ministry has all documentation in connecting with the loans issued through Hustler Fund. Auditor General Dr Nancy Gathungu had issued…

Women asked to seek leadership positions in Saccos

Sacco ReviewJuly 8, 202403 mins

Universal Traders Sacco Chair Fredrick Ngumbi has called on women to vie for positions in Saccos in the country. The chair who was speaking during UTS Member Education Day in Tala, Machakos County noted that apart from joining Saccos as members women should be in the frontline in vying for positions. He said Universal Traders…

Faulu gets over Ksh900 million to grow digital, MSME banking

Sacco ReviewJuly 7, 202405 mins

Faulu Microfinance Bank has secured more than KSh 900 million from its parent company, Old Mutual, to enhance its operations and revamp its business model for sustained growth. The company plans to utilize the funds to expand its digital banking services and to realign its distribution channels and human resources to promote sustainable growth. Faulu…

Uproar as candidate accused of sexual abuse elected director of tea factory

Sacco ReviewJuly 5, 2024July 5, 202404 mins

The United Kingdom (UK) Multinational James Finlay has written a letter requesting the removal of John Chebochok from his position as Director of Toror Tea Factory, a Kenya Tea Development Association (KTDA) factory. In a letter signed by Ben Woolf addressed to Enos Njiru Njeru, Wilson Muthaura of KTDA dated July 1, 2024 and seen…

More than 18 million Kenyans have not joined cooperatives

Sacco ReviewJuly 4, 2024July 4, 202403 mins

The government is now aiming to have Kenyans embrace saving culture for betterment of their financial well-being. Cooperatives Principal Secretary Patrick Kilemi says more than 18 million Kenyans are not in cooperatives and the government is pushing to have them save the little they make through cooperatives. The PS says they are encouraging Kenyans to…

Coffee producers in Nandi to benefit from KSh60 million milling plant

Sacco ReviewJuly 4, 202403 mins

The Nandi County Government is establishing a coffee milling plant worth KSh60 million to facilitate the production and processing of the cash crop. According to Hillary Serem, the county government’s coffee milling plant will become operational later this month as electricity installation continues. The coffee milling plant will cater for the requirements of the cash…

National Housing Cooperation advertises 59 job vacancies

Sacco ReviewJuly 3, 2024July 3, 202403 mins

The National Housing Corporation (NHC) has announced job vacancies totaling 59. In an advertisement notice issued by My Gov on Tuesday, July 2, 2024 NHC said those interested should visit www.nhckenya.go.ke/careers or careers.nhckekenya.go.ke. for applications. “As part of our commitment to achieving excellence and driving innovation in the housing sector, we are seeking to recruit…

Loss-making Home Afrika sells land, houses to clear loan

Sacco ReviewJuly 3, 2024July 3, 202405 mins

Home Afrika, a real estate company listed on the stock exchange, is selling some of its assets, including houses and land, in order to repay an outstanding loan of KSh79 million from I&M Bank. Home Afrika intends to sell six housing units from its Mitini Scapes Development, located along Kiambu Road and Lake View Heights in Kisumu. The purpose of this sale is to repay…

Unaitas Sacco opens new branch in Murang’a

Sacco ReviewJuly 3, 202403 mins

Unaitas Sacco has expanded its branches in the country to 32 after opening a new branch in Kigumo, Murang’a County. The Sacco Chief Executive Officer (CEO) Martin Muhuhu said the firm will remain committed to offering reliable financial services to Kenyans. Speaking during the opening, the CEO asked financial institutions to show unwavering commitment to…

Ushirika Day Celebrations scheduled for July 6 postponed indefinitely

Sacco ReviewJuly 2, 202403 mins

The 102 International Day for Cooperatives also dubbed Ushirika Day in Kenya that was scheduled for Saturday July 6, 2024 has been postponed until further notice. In a memo by the National Ushirika Day Celebration Council addressing all the Cooperative Societies, dated July 1, 2024 and seen by Sacco Review, attributed the move to the…