Surestep Systems Ltd defends itself against fraud at Njiwa Sacco

Surestep Systems and Solutions Ltd has addressed the ongoing Njiwa Sacco fraud case. Through a press release dated September 23, 2023, the company stated that it believes it is essential to clarify that the matter dates back to 2018 and is not a recent occurrence.  Since the inception of this case, Surestep has been unwavering…

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Senior officials among 9 arrested in Ksh160M Sacco fraud

Detectives from the Directorate of Criminal Investigations (DCI) have arrested nine employees of Njiwa Savings and Credit Co-operative (Sacco) Society in connection with the disappearance of Ksh160 million from Sacco savings. In a statement through its official twitter handle this morning September 23, 2023, the DCI noted that the employees belonging to staff of the…

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Women group seeks expert advice on how to transform into Saccos

Gatondo Women Group has called on co-operatives experts to provide professional guidance to rural based self-help and women groups in Embu County so as to transform into more profitable entities such as Saccos and Micro-Finance Institutions (MFIs). In an interview with Sacco Review, the Group’s chairlady Ms. Ephrath Wamai noted that a lot of such…

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Finance agencies asked to motivate coffee farmers for investments

A Matungulu Constituency doctor has asked banks and micro -finance institutions to come up with schemes to motivate coffee growers for investments in the region.  Dr Philip Munyao, a consulting doctor, said financial institutions should train farmers on investment opportunities, saying that if there were regular fora organized by the banks, the interaction will encourage farmers to…

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SACCO

All you need to know about retirement

Retirement can mean leaving employment to pursue other interests or businesses. According to my personal analysis, upon retirement, 47 percent of retirees depend on relatives, 3 percent go back to working, 16 percent depend on state pension and only 34 percent have financial independence. Interestingly, 82 per cent of those with financial independence (the 34…

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Saccos urged to digitalize services for efficiency 

Uasin Gishu County Director for Enterprise Development Isaac Lagat has urged Cooperatives and Saccos to digitalize their services to attract and retain clients. Lagat noted that digitization and automation of Sacco operations will make it easier for them to improve on efficiency and restore members’ confidence Speaking during the training of Sacco representatives drawn from…

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Kenya cements position as Islamic Banking hub in East, Central Africa

The existence of Gulf Africa Bank, Dubai Bank and First Community Bank as fully fledged Islamic Banks has cemented Kenya’s position as a hub for Islamic banking in East and Central Africa. The position is further cemented by the existence of Islamic products in conventional banks and Saccos. Abdi Hussein, Gulf Bank Garissa Branch Deputy…

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Kajiado County to revive Ushirika Day celebrations

Kajiado County Executive Committee Member (CECM) for Gender , Cooperatives  and Culture Janet Sereu  has revealed that the county government will revive the annual Ushirika day celebrations which were stopped three years ago. Speaking during the handing over of a cheque for the purchase of a new house to Muungano Women Group  Housing Cooperative, the CECM revealed that the…

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Groups urged to promptly repay Uwezo Fund loans

Kaloleni sub county Youth Development Officer Festus Matee has urged the beneficiaries of the Uwezo Fund to promptly repay their loans to enable other groups benefit. Matee noted that from the Ksh23, 255,000 issued to 192 Women, Youth and persons with disability groups in Kaloleni Sub County, only Ksh7,234,060 has been repaid. “That translates to…

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Obonyo lauds Muungano Women Housing Coop for contribution to affordable housing

Commissioner for Cooperatives Development David Obonyo has commended  Muungano Women Group  Housing Cooperative for playing a key role in offering affordable housing in line with the Bottom up Economic Transformational Agenda (BETA). Represented by Morris Mworia from his office, the commissioner lauded the cooperative for empowering women and cooperatives in general for playing a significant role in supplementing…

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