Category: Uncategorized
Fund will save Sh2bn Saccos pay banks
By Malachi Motano Savings and Credit Co-operative Societies (Saccos) will save close to Sh2.33 billion they pay as interest income on loans from commercial banks, thanks to the establishment of Central Liquidity Fund (CLF). The fund will save Saccos from getting lines of credit from commercial banks at high interest rates that cannot be supported…
Making housing schemes affordable, gov’t urged
By Kamundia Muriithi Owning a home is a dream that many Kenyans harbour, but few actualise it due to the associated high costs of constructing houses. In recent times, housing cooperatives have sprung up in different parts of the country to empower ambitious Kenyans acquire decent, modern houses through homeownership plans. Coupled with the government’s…
Virtual AGM with diaspora members
By Malachi Motano Kimisitu Sacco’s 2021 virtual Annual General Meeting (AGM) conducted in Nairobi attracted participation from 28 countries around the globe. A member calling all the way from Abidjan in Cote d’Ivoire in West Africa commended the Sacco for its technological advancement. “I am getting you very well from this end,” Tony from Abidjan—“Yes…
Co-op Bank to pay Saccos Sh3.8bn dividends
By Sammy Chivanga Savings and Credit Cooperative Societies (SACCOs) will get a Sh3.79 billion dividend cheque from Cooperative Bank of Kenya, giving them a major liquidity boost in Covid-19 environment. The pay-out, set for mid-April, comes after Co-op Bank board defied the prevailing dividend freezes and cuts in corporate Kenya to declare Sh5.86 billion dividend…
Farmers learn jerrycan technology to store beans upon harvesting
By Malachi Motano The war against post-harvest loss seemingly may soon have a major victory with your help, as more simple and cost-effective measures continue to be adopted in the value chain. I learned of jerrycan bean storage technology that is gaining popularity in Kenya courtesy of the Feed the Future Scientific Animations Without Borders…
Sacco eyes Kshs. 50 billion asset growth in 2021
By Malachi Motano The Kenya National Police Deposit Taking (DT) Sacco is projecting a 28 per cent growth in clients and assets in the current financial year. According to the Sacco Chairman David Mategwa, the Sacco plans to expand its asset base to Kshs. 50 Billion after he announced an impressive Sh39 Billion for last…
Sacco raises loan portfolio to over Kshs. 5 billion
By Malachi Motano Kakamega based Invest and Grow (IG) Sacco disbursed Kshs. 1.1 billion last year in the 2020 financial year to raise the loan portfolio to Kshs. 5.8 billion “We managed this after a review of our products where we extended repayment schedules, introduced mobile loan products and multiplier ratios,” said Sacco chairman Kennedy…
Technology to support the growth of Saccos in Kenya – How?
The Covid-19 pandemic and its disruptions have introduced a new way of life not only at the individual level but also in business operations. Virtually every sector of the economy has been affected. This has essentially changed human and consumer behaviour and has further led to a great shift in priorities and preferences that we…
Amica recovers Shs105m from defaulters
By Kage Njoroge The Amica Sacco debt recovery unit collected Sh105 million by end December last which risked being lost as bad debts. The unit was created to go after loan defaulters and ensure the stability of the Saccos business. Amica Chief Executive Officer (CEO) James Mbui says the debt recovery unit which was charged…
Government to conduct dairy farmers and livestock census
By John Majau The government will soon conduct a census of dairy farmers and their livestock in the country for better planning. Agriculture Cabinet Secretary Peter Munya said the collection of data which the ministry will undertake in collaboration with the county governments will help in mainstreaming the dairy sub sector. Speaking at a local…