Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Felix Wanderi. Kiambu Cooperatives and societies emerged winners in most of the categories in the recent celebrations of Ushirika Day. In the Dairy sector; Githunguri Dairy Farmers Cooperative Society emerged the winner of Best Managed Sacco and the best in value addition, while Kiriita Dairy Farmers Cooperative Society and Limuru Dairy Farmers Cooperative Society…
By Benedicto Ng’etich. Co-operators have slammed the high taxes levied on societies by the National Government. Led by the chairman of Simba Chai Savings Co-operative Society, Engineer Joseph Mitei (pictured), the cooperators complained of the ever increasing National Government taxes that are levied on societies. “We want people who are elected into various political offices…
By Kephas Ayiecha The Government’s plan to amalgamate financial institutions through the draft Finance Authority Bill of 2016 should be rejected as members will have to tighten their belts since the future will be uncertain. Kenya Union of Sacco Societies (KUSCCO) Rift Valley chairman, Robert Owino told Sacco Reveiw that if passed, the Bill will…
By David Kipkorir. As the country celebrates 95th International Co-operative Day, (locally known as Ushirika Day) on July 1, 2017, Savings and Credit Co-operative Societies (Saccos) continue to play an important role in uplifting lives by providing financial services to many disadvantaged Kenyans as espoused in Vision 2030. Vision 2030 blue print recognizes Sacco societies…
By Kamundia Muriithi. Members of Winas Sacco Society Ltd who default on loans advanced to them will have their names listed by Credit Reference Bureau (CRB). The Sacco through a paid up newspaper notice dated May 5, 2017 warned that non-performing loans would be forwarded to the CRB. “This is to notify all members that…
By Our Reporter. Five Savings and Credit Cooperatives Societies within Juja Constituency will receive about Sh85, 000 per day through savings by youth enrolled in National Youth Service (NYS) projects. The money saved by youth known as NYS cohorts will be remitted to youth saccos in the area. Of the Sh471 paid to a worker…
By Ndichu Kamau. Biblia Savings and Credit Co-operative Society (SACCO) posted good results in 2016. Speaking during this year’s Annual General Meeting (AGM), Sacco chairman Mr. Walter Aoko said this had been attained despite the challenging economic environment. He said the year 2016 was difficult economically but the Sacco worked hard and was sailing in…
By David Kipkorir. The Central Bank of Kenya (CBK) has warned banks and financial institutions against opening accounts for fake pyramid schemes operating as saccos. Central Bank of Kenya in a circular urged banks to ensure they scrutinise transactions where non-deposit taking saccos mobilise huge sums from unsuspecting Kenyans. “This circular is to caution financial…
By Azael Masese. Kisumu Teachers (KITE) Sacco Society Limited reported an increase in its turnover to Sh 52 million for the financial year ended 31st December, 2016. This is compared to Sh 44.4 million posted the previous year. “Although the Society experienced membership withdrawals through death and retirement, we were able to increase members’ deposits…
By Wasike Elvis. Governor Jackson Mandago has urged the National government to open a Co-operative College in the county. He said that this will offer training on how to manage Savings and Credit Societies (Saccos). “Despite us reviving over 100 Co-operatives and giving them loans, some of the officials lack managerial skills leading to them…
