Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Malachi Motano Sacco Society regulatory authority (Sasra) will have to improve its capacity to handle the swelling number of Savings and credit cooperative societies (Saccos) under their regulation, after the government added it even those that don’t take deposits (Non-DT Saccos) “Non-Deposit Taking Saccos refer to those that take deposits from members only in…
By John Majau Agriculture CS Peter Munya has urged farmers to take coffee to the New Kenya Planters Cooperative Union (KPCU). He said the government has enforced new regulations for the benefit of farmers by sealing loopholes that existed before. He warned farmers that they will only have themselves to blame if they take their…
By Malachi Motano Research conducted on the impact of the co-operative movement in Kenya has found that it will be a key factor in building back the economy in the post Covid-19 pandemic period. The report further recommends that the sector should be included in Kenya’s national economic recovery programme. The study conducted by the…
By Malachi Motano Co-operatives industry players have the government to create a standalone ministry for the cooperatives sector was the case in previous years. Among them is the chairman of the Agriculture, Livestock, Fisheries and Cooperatives Senate Committee Njeru Ndwiga, who is a former Minister for Cooperatives. They say the sector requires a standalone ministry…
By Malachi Motano The Government is set to borrow at least Ksh.1.5 trillion in the new financial year which will commence in According to final budget estimates tabled in Parliament last week, the new borrowing plan matches up to estimated loan financing in the current financial year running to June 30- Ksh.1.456 trillion. It had…
By Malachi Motano Members of Sirisia Sub County have been urged to invest their money in Co-operative Sacco’s to boost their lives economically. According to Kikai Rural Sacco Director Mr. Justus Wafula said people are facing tough economic constraints especially during this Covid-19 period due to lack of investment. “So many people have been visiting…
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…
By Malachi Motano The Sacco Societies Regulatory Authority (SASRA) Board has appointed Peter Njuguna as the acting Chief Executive Officer following the exit of John Mwaka after the expiry of his term. Njuguna will be in charge of the institution until a substantive chief is recruited with the board promising to offer him the necessary…
By Malachi Motano Most Saccos rewarded members with favourable dividends in the 2019-2020 financial year despite the challenges posed by the Covd-19 pandemic. The Giant Mwalimu National Sacco (MNS) paid only interests on deposits to members at the rate of 9.3%, compared to 2019 when it paid the same at 10.2 and 11.2% dividends. Also…
By Sammy Chivanga The number of newly registered cooperative societies dropped nearly by a third in the 2019-2020 financial- year. A government report says Covid-19 disruptions made it difficult for applicants to submit required paperwork. A sector report shared by the State Department of Cooperatives (SDC) shows that new registrations dropped to 846 or 32%…
