Category: Uncategorized
Sacco bosses brace for big shake-up as Bill revived
At A Glance… -Law will ensure the cases of mismanagement and bad governance in Saccos will be a thing of the past. – It will spare members losing billions of their hard-earned savings. –Legislation will regulator Sasra more say in determining who may serve as an official in a Sacco. –This offers hope to the…
Saccos goes to members’ rescue as Covid-19 takes toll
At Glance –Thousands of sacco members are receiving support in the wake of difficult economic situations triggered by Covid-19. – Many Sacco members who have lost jobs, sent on compulsory non-paid leave or given pay cuts. – Mwalimu National has increased the amount its members can withdraw via the mobile application from Sh70,000 to Sh150,000…
Rose Chepngetich,leading female in SACCO boardrooms
By Jackson Okoth At the helm of Kimbilio Daima Sacco Society Limited as Chief Executive for more than 18 years, Rose Chepngetich remains an inspiration to many women aspiring to occupy executive positions and make a difference in the corporate world. Rose represents a class of women joining the boardroom and executive positions of many…
Bad debt leaves Kumisa Sacco in financial crisis
By Felix Wanderi Poor decision making and bad debts have plugged Kumisa Sacco into a financial mess. During a recent Sacco AGM held at Kirigiti stadium, it emerged that the institution started in 2013 is on the verge of collapsing owing to liquidity challenges. The Sacco Board of Directors Secretary John Gakure informed members that…
Saccos to get Sh2.26bn remittance from State agencies
By Our Reporter The National Treasury Cabinet Secretary Ukur Yatani has directed all government parastatals to remit billions of shillings in statutory deductions within the next four months. Unremitted Sacco deductions stand at Sh 2.261 billion according to the treasury data. He warned state corporations chief executives who will not comply with the directive. Many…
KUPPET in bid to bolster membership
KUPPET in bid to bolster membership By Azael Masese Kenya Union of Post Primary Education Teachers (KUPPET) will embark on an aggressive recruitment drive to make it the single largest union in the country. With a current membership of about 90,000, KUPPET National Chairman Omboko Milemba said growth will be epitomized by total stability, performance…
Court gives nod to increased levy for Saccos
By Jackson Okoth Deposit-Taking Saccos that run FOSAs will in this financial year pay more levy to the Sacco Societies Regulatory Authority (SASRA). This follows a ruling by Judge Weldon Korir that found that amendments to the Sacco Societies Deposit Levy order were done in consultation with all stakeholders, hence could not be quashed or…
Kakamega launches Sh23m smart farm
By Andanje Wakhungu County Government of Kakamega has launched a multi-million smart farm that will be used to collect milk and train youths in Lugari Sub-County. Deputy Governor Professor Philip Kutima said Lugari Dairy Smart Farm at Kabras County Polytechnic will benefit residents. The farm which was constructed at a cost of Sh 23 million…
2NK Sacco trains drivers on road safety
By Asa Maina 2NK Sacco recently organized a sensitization workshop for its drivers in a bid to sensitize them on road safety. 2NK Sacco Chairman James Kahiro said this was to prepare them as festive season and the closure of schools approaches. He noted that it was important for the drivers to be reminded on…
Embu farmers irked by findings on coffee cooperative
By Kamundia Muriithi An inquiry into alleged malpractices at New Kyeni Farmer’s Cooperative Society has absolved the management from the allegations, but left the farmers dissatisfied. Farmers had accused the management of the Embu-based society of various malpractices and abuse of office, which they said led growers to uproot their coffee. The row escalated to…