Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
In the midst of a growing leadership struggle within the Kenya Union of Savings and Credit Cooperatives (KUSCCO), former directors who were recently ousted from office are protesting the decision and the official removal order. The former directors who are now directors and executives in various SACCOs were removed from the KUSCCO office after the…
Following an increase in hacking in the country, attributed to massive tech job layoffs, which have in recent years plagued many enterprises, organizations have been urged to convert the negative energy of hackers into positive energy by creating opportunities for them. As a result of increased cyberattacks (hacking) and ransomware, many institutions have been grappling…
Women entrepreneurs across Kenya is set to benefit from Absa bank and Women’s World Banking partnership which aims at deepening their financial inclusion and promoting economic empowerment. This partnership was signed on the sidelines of the Women’s World Banking partners’ breakfast held in Nairobi. It will focus on enhancing Absa’s Women in Business (WIB) proposition…
The Kenya Revenue Authority (KRA) is contemplating a comprehensive review of taxes imposed on sugarcane by-products to curb smuggling from the neighboring East African Community (EAC) partner states. This follows concerns from players in the sector over rising cases of smuggling of molasses, ethanol and alcoholic beverages through the porous borders with the neighboring countries….
Cooperatives cabinet secretary, Wycliffe Oparanya, has strongly backed the government’s decision to lease state-owned sugar factories, saying the move is long overdue and critical to reviving a struggling sector. Speaking as the transition process officially began, Oparanya disclosed that most of the state-owned mills were in deep financial crisis, with many operating at a loss for…
The Government has imposed an immediate 30-day ban on all gambling advertisements across media platforms in a move to combat the normalization of gambling and its negative effects on society. The directive was issued by the Betting Control and Licensing Board (BCLB) under the Ministry of Interior, led by Chairperson Dr. Jane Mwakali Makau. A…
The Government has completed a 30-year lease agreement, outlining how the four state owned sugar factories will be leased out to private entities. In a press statement agriculture cabinet secretary Mutahi Kagwe says that following the broad-based consultations, the following companies have been awarded a 30-year lease for the operation of the four sugar factories:…
Equity Group and the African Guarantee Fund (AGF) have renewed and expanded their strategic partnership in a groundbreaking Ksh.64 billion which seeks to accelerate access to finance for Micro, Small, and Medium Enterprises (MSMEs) across East and Central Africa. The facility is expected to unlock Ksh.129.5 billion in lending and sustain over 50,000 jobs, especially…
The National Assembly has passed the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025. The bill will see amendment of the Sacco Societies Act (Cap. 490B), empowering the Sacco Societies Regulatory Authority (SASRA) in regulating the Saccos, the societies have mobilized deposits of members to the tune of more than ksh 1…
Nominated Senator Tabitha Mutinda has petitioned the Senate to urgently probe the financial collapse of Metropolitan National SACCO Limited. Auditors had uncovered Kshs12 billion loss, over 75,000 members were unable to access their savings. Senior officers were dismissed and replaced by a caretaker committee in 2022. In a Statement to the Senate Committee on Trade,…
