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Survey: Chelugui ranked 8th top-performing Cabinet Secretary

Sacco ReviewMay 10, 2024May 10, 202403 mins

Cabinet Secretary, Cooperatives and Micro, Small and Medium Enterprises Development Simon Kiprono Chelugui has been ranked 8 among the top 10 best performing cabinet secretaries by Mizani Africa. The Investment,Trade & Industrialisation Cabinet Secretary Rebecca Miano was rated the Best Performing CS in Kenya 2024 with 72.3pc performance rating. She was closely followed by Interior…

Here are the top-five performing Saccos

Sacco ReviewMay 9, 202404 mins

Saccos in the country are among top lenders accumulating assets and savings worth billions of shillings. Five top Saccos in the country command a membership of over 517,700. Nairobi City County director of co-operatives Dolphine Aremo said recently that the Capital City hosts to 4978 cooperatives including giant Saccos. In her speech dubbed “Overview of the…

Safaricom makes history, records KSh139.9 billion earnings for full year

Sacco ReviewMay 9, 2024May 9, 202403 mins

Kenya telecoms operator Safaricom, today, May 9 announced that its group earnings before interest and tax, excluding Ethiopia, was KSh139.9 billion in its full year to end-March. It becomes first company in the region to cross past billion-dollar mark in earnings after operating profit for the full year to March rose by 20 per cent…

President Biden to host Ruto at White House on May 23

Sacco ReviewMay 9, 2024May 9, 202404 mins

United States President Joe Biden has planned to welcome President William Ruto to the White House this month, which will be a state visit after changing plans to visit Africa last year. White House press secretary Karine Jean-Pierre said recently that the visit set for May 23 will mark the 60th anniversary of US-Kenya diplomatic…

Theme for 2024 Ushirika Day revealed

Sacco ReviewMay 8, 202405 mins

Cooperatives around the world will on this year on July 6, celebrate the International Day of Cooperatives, also known as Ushirika Day in Kenya, with the theme “Cooperatives Build a Better Future for All.” The International Cooperative Alliance (UCA), which is the voice of cooperatives around the world, said that cooperatives worldwide will have the chance…

Safaricom Investment Co-operative has new CEO, Churchill Winstones appointed

Sacco ReviewMay 8, 2024May 8, 202403 mins

Churchil Winstones Ochieng’ is the new Chief Executive Officer (CEO) of the Safaricom Investment Co-operative. Churchil who was appointed by the board to his new position was termed to be a person of vast leadership experience spanning for over 25 years in cash flow management, corporate development and brand management, product development, financial management, planning…

CS Chelugui appoints 15-member new interim board at KUSCCO

Sacco ReviewMay 7, 2024May 8, 202404 mins

Ministry of Co-operatives & Micro, Small and Medium Enterprises Cabinet Secretary Simon Chelugui has appointed a new interim committee to run Kenya Union of Savings and Credit Cooperative (KUSCCO) after dissolving the previous board following mismanagement of funds allegations. In a statement by the Ministry the 15-member interim Board will be chaired by David Mategwa…

KUSCCO Board of Directors dismissed over alleged mismanagement of funds

Sacco ReviewMay 6, 2024May 6, 202402 mins

Cabinet Secretary for Cooperatives and MSMEs Simon Chelugui announces dismissal of Kenya Union of Savings and Credit Union (KUSCCO) Board of Directors over financial impropriety. CS Chelugui says the Board made inappropriate decisions. “Preliminary findings indicate systemic deficiencies in the management of resources, including, high cash withdrawals out of character with expected operations – Kshs…

State allocates KSh5 billion to Hustler Fund in 2024-2025 budget

Sacco ReviewMay 6, 202402 mins

The State has allocated KSh5 billion for the Hustler Fund in the 2024/2025 budget. The fund, managed by the Cooperatives department is aimed at providing cheap mobile loans to Kenyans. In the present financial year, the Government had allocated KSh10 billion towards the same but it was trimmed in the first supplementary budget. READ ALSO:…

MPs to kick off nationwide public hearings on Cooperatives Bill next week

Sacco ReviewMay 4, 202403 mins

The National Assembly has announced dates for of public hearings on the Cooperatives Bill 2024, (National Assembly Bill No. 7 of 2024) urging members of the public to turn out to give views. Hearings will take place in 8 counties on May 7-11, 2024. On May 7, 2024 hearings will hold in Siaya at IEBC…