Category: Uncategorized
Bandari Sacco sheds off tough past, posts good returns
By Jackson Okoth Bandari Sacco Society Limited posted net surplus of Sh 182,652,934 in the financial year ended December31st, 2016 compared to Sh 57,284,534 the previous financial year. According to the Society’s statement of profit or loss and other comprehensive income, interest on loans went up to Sh 644.6 million in 2016 from Sh582.8 million…
Members have say in AGMs, says officer
By Our Reporter As various Saccos alter and amend their by-laws to allow members to be represented through a delegates system, a section within the co-operatives system are not uncomfortable with this emerging trend. The question is whether members should retain Annual General Meetings(AGMs) as the supreme authority of a Sacco or pass this authority…
Sacco members stare at reduced dividends
“The new rates will come into effect from December 1, 2016 and will apply to newly applied products. The changes will not apply retrogressively. Other terms and conditions applicable remain as before,”Mr Richard Nyaanga, Acting Chief Executive Officer of Ukulima Sacco Limited stated. Ukulima Sacco has reduced interest rates on 8 out of its 19…
41,000 people join Saccos in Kajiado County
By Isaac Lenkou The Kajiado County Government has disclosed that over 41,000 people have joined Co-operatives in the last three years. The Societies transaction total business worth Sh 470 million. “I commend efforts undertaken by Co-operatives to improve the livelihood of people in Kajiado County,” said Paul Ntiati, Deputy Governor, Kajiado County during the 94th…
Farmers challenged to insure their crops
By Dennis Bett Agriculture Cabinet Secretary, Willy Bett has re-affirmed the Government’s commitment to invest in an insurance scheme to cushion farmers from crop failure, a move which is meant to mitigate against losses caused by climate change. Flanked by the Elgeyo Marakwet County Governor, Alex Tolgos, Senator Kipchumba Murkomen and officials from agricultural scientific…
Sotico Sacco’s initiative brightens members’ lives
Sotico Sacco in Chebilat has brightened members’ lives by advancing loans to parents to venture into businesses as well as pay school fees for their children. The Sacco’s Chief Executive Officer, Everline Moraa, during her school days used to receive loans through her parents to pay school fees. This support saw her grow up confident…
Naku Sacco renamed Shoppers Sacco, targets more members
By Jackson Okoth Naku Savings and Credit Co-operative Society (Naku Sacco) Limited- which previously drew its membership from employees of several retail outlets, has shed off this exclusive structure and rebranded to Shoppers Sacco. The rebranded society is now offering financing to shoppers to acquire products from the major retail stores. This product loan will…
Winas scores big on CSR and Agency Banking
By Kamundia Muriithi Winas Savings and Credit Co-operative Society Limited, formerly Embu Teachers Sacco Limited has rolled out elaborate Corporate Social Responsibility (CSR) programmes targeted at the needy and disadvantaged in society. The Society aims at improving the social-economic welfare of residents in Embu County by putting a smile on their faces “We like giving…
Kimisitu launches Makao Halisi loan product
By Wesley Ken. Kimisitu Sacco Ltd has launched the Makao Halisi Loan, a product which seeks to address the housing gap by enabling its members own homes. Through its investment arm – Kimisitu Investment Company Limited, the initiative is part of its larger objective of enabling members own affordable and decent housing within the shortest…
Wayward, dormant Saccos warned
County Senior Assistant Commissioner for Co-operatives (SACC) Nathan Mukhweso (pictured) has called on Co-operative Societies in the area to conduct their businesses in accordance with the Co-operative Societies Act. Mukhweso regretted that some Co-operative Societies were not working within their core mandate as Saccos, marketers, Sugar cane growers, Multipurpose or Savings/Credit Societies and threatened to…
