Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Interested parties have been invited to purchase iconic Hilton Hotel situated in the Nairobi’s Central Business District. Both State and Hilton International Hotel Limited on Tuesday, April 16, separately invited expressions of interest from willing buyers to acquire 100 per cent equity stake in the hotel. In an advertisement published in one of the dailies…
Money Market Funds (MMFs) and Savings and Credit Cooperative Organizations (SACCOs) are both money-saving instruments that have gained popularity in the country. And they both promise one thing — to make your money work for you. The two work in different ways therefore understanding their unique features before making a choice is vital. What are…
There has been a general reduction in prices of key food items last month compared to February. This is according to Central Bank of Kenya (CBK) Agriculture Sector Survey findings. The survey conducted from March 11 to 15, 2024 was aimed at identifying market expectations and recent trends on prices of key commodities and output…
Health, national security, Public administration and international relations sectors are set to receive the huge budget increases in the next Financial Year 2024/25. According to Institute of Public Finance (IPF), the increase in allocation will be necessitated by States’ needs preferences and the budget increase which is expected to grow by four per cent to…
The Private Security Regulatory Authority (PSRA) has ordered all security firms to immediately stop remitting union contributions to the Central Organization of Trade Unions (COTU). In a letter dated April 15, PSRA Director General Fazul Mahamed said for years, private security have consistently deducted trade union fees from the private security guards and subsequently remitted…
Cooperative Bank was named Overall Winner of the recently conducted Banking Industry Customer Satisfaction Survey conducted by the Kenya Bankers’ Association (KBA), which also declared it the winner in the Tier One Bank Category. This is the second consecutive win, having also won the overall title for year 2022. The survey was conducted by interviewing…
Savings and Credit Co-operatives (Saccos) will this year receive Ksh5.7 billion in dividend after Co-operative Bank of Kenya announced profit before tax of Ksh32.4 billion for Full Year 2023 as it prepare to have its virtual Annual General Meeting (AGM) on May 17, 2024. This will be the same level of dividend paid to Saccos…
The country’s Sacco umbrella body, Kenya Union of Savings and Credit Co-operative (KUSCCO), has warned the entities against declaring unrealistic dividend payouts in a bid to retain membership. Speaking during Imarika Sacco’s Annual Delegates Meeting (ADM) in early March at Travellers Beach Hotel in Mombasa, KUSCCO Acting Managing Director Arnold Munene noted that it is…
It is a windfall season for active members of Saccos as their societies announce surprisingly high dividends at their Annual General Meetings (AGM) even as the multi-billion sub-sector employs different strategies to improve their services. The high dividend payments, which have given tidy returns to shareholders, come as a relief as they will be crucial…
Old Mutual has launched its latest Financial Services Monitor, which offers invaluable insights into the financial behaviours and attitudes of Kenyans, with a particular focus on women. Old Mutual Women’s Network Patron Anne Nyamu said the second edition of the Old Mutual Financial Services Monitor (OMFSM) provides a comprehensive analysis of the Kenyan economy, highlighting…
