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Detectives arrest University drop out for allegedly hacking microfinance siphoning Ksh11Million

Sacco ReviewFebruary 12, 2026February 14, 202603 mins

Detectives from the Banking Fraud Investigation Unit (BFIU) have arrested and arraigned former Meru University student Seth Mwabe Okwanyo for allegedly orchestrating a fraudulent scheme that siphoned off Ksh11.4Million from a leading microfinance institution. The 26-year-old self-trained cybersecurity engineer arrest follows a formal complaint lodged by the Microfinance institution, detailing a shocking incident that occurred…

Limlak SACCO invites contractors ahead of FOSA and HQ construction

Sacco ReviewFebruary 10, 202602 mins

Limlak Savings and Credit Cooperative Society (SACCO) has invited interested contractors to submit Expressions of Interest (EOI) and pre-qualification documents ahead of the planned construction of its Front Office Service Activity (FOSA) and headquarters building. In a notice issued by the SACCO, Limlak directed interested contractors to download the EOI and pre-qualification forms through the…

TNT SACCO holds financial literacy workshop ahead of 50th anniversary

Sacco ReviewFebruary 10, 2026February 10, 202603 mins

TNT SACCO has held a Members Empowerment Workshop aimed at strengthening financial literacy among its members as the cooperative prepares to mark its 50th anniversary next year. The workshop, themed “Saving for Investment,” brought together members from Turkana, Kachibora, Kiminini and Endebess, focusing on savings discipline, investment planning and long-term wealth creation. Financial management expert…

Mentor Sacco AGM pays Ksh1.64 billion member returns

Sacco ReviewFebruary 10, 2026February 12, 202602 mins

Mentor Sacco Society Limited has paid member returns totaling Ksh1.64 billion, including a 15 per cent dividend on share capital and 12.5 per cent interest on non-withdrawable deposits, following a strong financial performance in 2025. The payment was announced during the Sacco’s 49th Annual General Meeting (AGM) held on January 31, 2026, in Murang’a, where…

Gov’t appoints Wanjohi as interim KUSCCO CEO to stabilise the organization

Sacco ReviewFebruary 5, 202604 mins

The government has appointed CPA Peter Wanjohi Kiama as the interim Chief Executive Officer of Kenya Union of Savings & Credit Cooperatives (KUSCCO) Limited as part of efforts to stabilise the organization. Kiama has been seconded from the State Department for Cooperatives, where he previously served as Deputy Commissioner for Cooperative Development. He will take up…

Sugar workers suspend strike after Govt, Union agree on arrears payment process

Sacco ReviewFebruary 3, 2026February 4, 202604 mins

The sugar factory workers has suspended their nationwide strike following high-level talks held between the Government and the Kenya Union of Sugar Plantation and Allied Workers (KUSPAW), chaired by CS Mutahi Kagwe. The industrial action, which began on January 29, 2026 and affected Muhoroni, Nzoia, Sony and Chemelil sugar factories, was triggered by unpaid salary…

CBK warns against damaging Kenya shilling notes for decorative purposes

Sacco ReviewFebruary 3, 202603 mins

The Central Bank of Kenya (CBK) has cautioned the public against using Kenya Shilling banknotes for decorative or celebratory displays, warning that the growing trend of creating cash flower bouquets and similar arrangements damages currency and disrupts cash processing. In a public notice issued on Monday, the CBK said it has observed increasing use of…

Court approves phased importation of duty-free rice to address shortfall

Sacco ReviewFebruary 2, 202603 mins

The High Court in Kerugoya has approved the phased importation of duty-free rice to address Kenya’s persistent production deficit, ordering the government to bring in 254,000 metric tonnes (MT) of Grade 1 rice in three equal consignments beginning March 1. In a ruling delivered by Justice Edward Muriithi, the court directed that the imports be…

High Court halts auction of KUSCCO assets over Ksh108.8 million debt

Sacco ReviewJanuary 31, 202602 mins

The High Court has temporarily stopped the auction of assets belonging to the Kenya Union of Savings and Credit Cooperatives (KUSCCO) after the umbrella body challenged enforcement of a Ksh108.8 million debt owed to RUPSA Sacco. Justice Linus Kassan granted a 30-day stay, halting the sale of KUSCCO’s motor vehicles and office equipment to allow…

Tower SACCO AGM highlights membership and asset growth

Sacco ReviewJanuary 29, 2026January 29, 202602 mins

Tower SACCO Society Limited celebrated its Golden Jubilee at Ol’Kalou Catholic Parish Grounds, Nyandarua County, during its 50th Annual General Meeting (AGM), which also connected members in the diaspora virtually. The SACCO reported remarkable financial and membership growth despite economic challenges, with active members rising by 29 per cent to 247,858 and share capital and…