The Commissioner for Cooperatives Development, David Obonyo, has sounded a stern warning to cooperatives and savings and credit societies (Saccos) that resort to borrowing money to declare dividends and rebates. Speaking during the launch of a four‑year strategic plan for Mhasibu Sacco, Obonyo said such practices amount to deception and will attract punishment under tightened … Continue reading Government warns Saccos against borrowing to pay dividends