Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Kenya Union of Savings & Credit Co-operatives Ltd (KUSCCO) has rejected the provisions of the controversial 2023/2024 finance bill, arguing that its implementation has far reaching consequences in the operations of Saccos. Through a memorandum dated May 22, 2023 and received by the national assembly, the union noted that issues contained in the Finance Bill…
By Ben Oroko The group lending model has increasingly become popular among Saccos and Micro-Finance Institutions (MFIs) in recent years. This is largely based on its ability to leverage on joint liability and increased loan repayments while promoting entrepreneurial spirit among borrowers. Group lending methodology is a unique financial service for low income entrepreneurs. To…
By Our Reporter As Public Participation on the contentious Finance Bill, 2023/24 enters homestreach, I am not certain whether the cooperative sector has submitted any Memoranda on behalf of the 15,000-strong membership. To the best of my knowledge, the cooperative sector hasn’t affiliated to KEPSA; yet that is where it rightfully belongs as part of…
By Agnes Orang’o Komarock bus park is yet to be functional four years after Komarock Housing Society handed it over to the Machakos county government. The society chairman Benard Maembe expressed worry that the sh 50m bus park is wearing off when it could solve transport problems facing the area. Maembe told Sacco review that…
The government plans to revive agricultural extension services through the Agricultural and Livestock Extension Services Bill, 2022, which when passed into law, will establish the Agricultural and Livestock Extension Service (ALES). The corporate body will be mandated to enhance the competitiveness of the agriculture and food industries and increase their long-term productivity. It doing this,…
Ports Sacco has rebranded from Mombasa Port Sacco as part of itsstrategic growth plan to empower members, drive financial inclusion and expand its national footprint. Sacco Chief Executive Officer Dedan Ondieki said the rebrand is part of the Sacco’s expansion beyond Mombasa is part of its strategy to be diverse and inclusive as it renews…
Members of Wendano Matuu Company Ltd in Matungulu constituency on Thursday protested outside the company offices after the police barred them from holding a meeting in their land which has been a subject of court cases for the last 15 years as different factions within the society wrangle for leadership. The members blamed the local…
The National Treasury has now revealed that savings made from every 5 per cent deduction on Hustler Fund loan will be wired to the Kenya National Entrepreneurs Savings Trust (KNEST), which was created to oversee the running of the savings scheme that targets over 16 million marginalized informal sector workers. It comes after the creation…
Over 70,000 farmers have benefited from loans worth Ksh 1 billlion since the inception of the Agricultural Finance Corporation’s (AFC) cheap credit scheme in 2018 that targets to benefit women on agri-finance in Kenya. The money was accessed through Saccos, microfinance institutions and Micro, Small and Medium Enterprises (MSMEs) with AFC projecting to reach out…
By Felix Wanderi Co-operative Bank board of directors has recommended a dividend of Ksh 1.50 per share, subject to approval by the regulators and shareholders. Co-op Bank Group CEO Gideon Muriuki said the proposed dividends represent a 50 per cent increase on the Ksh 1.00 per share paid out last year. He added that the bank will pay out a…
