The Leading Newspaper for Co-operative Movement in Kenya
By Jane Wangeci Lamu Teachers Sacco is in the process of selling two of its branches so as to raise money to pay a Sh30 million loan the sacco has been servicing since 2013. According to the Sacco’s Chief Executive Officer Michael Kirui, the Sacco will dispose Witu and Faza branches. The proceeds will be…
By Stephen Makabila In a rare departure with tradition, where leaders are the ones put under the spotlight, the State Department of Co-operatives now wants individual Sacco members to be alert and hold the leadership of their respective Saccos to account. “We are putting Sacco members on notice. If your Sacco is not performing, ensure…
By Munene Maina The technological advancements sweeping the financial sector and the high cost of opening and running branches have forced Savings and Credit societies to re-strategize to beat the competition and grow their businesses. Most Saccos are now rolling out agency banking or opening satellite branches to extend their reach and reduce operation cost…
By Dennis Bett The County Government of Elgeyo Marakwet has created a revolving fund worth Sh10 million for Sacco’s across the county to empower them as well as reviving the dormant co-operatives. As part of the programme, the government will also pursue a welfare scheme programme for the co-operatives which will see members benefit at…
By Our Reporter Residents of Vihiga County have been urged to join Saccos and related community savings group to generate and boost their incomes. According to Vihiga Senator George Khaniri, such groups would provide locals with cheap credit and finance to start businesses. A research report shows that out of every ten people in the…
By Our Reporter Bungoma County Governor Wycliffe Wangamati has called for concerted efforts by all stakeholders to revive the co-operative movement. Addressing Ngarisha Sacco members during the Sacco’s Annual General Meeting (AGM), Mr Wangamati said co-operatives will boost the county’s economy. He said that through co-operatives, residents will benefit from a variety of investment opportunities…
By Aggrey Buchunju Members of Relisa Housing Co-operative Society Ltd Bungoma branch, have resolved not to sell Finlay House. The society members were divided over whether the house should be sold and shareholders share the proceeds or not, during their education meeting day at Bungoma Railway station recently. The decision was reached by a majority…
By Benedict Ngetich and Jackline Chepkorir. The new management of Stegro Savings and Credit Society has paid out Sh120 million accumulated tea bonus to farmers. The CEO, Mr Geoffrey Chepkwony said the payments were part of accumulated bonus by farmers who had not been paid by the previous management. Accompanied by the Chairman of the…
By Munene Maina Saccos have been urged to follow up on their members to ensure they make proper investments from the loans they get. This will help reduce the number of loan defaulters in the sector according to James ole Nkiti, a Manager with KUSCCO. “Let the Sacco invest in members’ education and training to…
By Enock Kipturgut Uasin Gishu County Executive Committee Member (CEC) in Charge of Trade, Industrialization, Cooperative and Enterprise Development Esther Mutai has challenged Saccos across the county to embrace marketing through the use various communication channels. The channels, she said include social media platforms such as Facebook, WhatsApp and Instagram. “Delegates and members should use…
