Co-ops grow capital base to Sh5bn in 5 years

By James Wakahiu. Cooperatives in Kiambu County have grown their capital base to over Sh5 billion in the last five years. This was disclosed by the County Director of Cooperatives, Abigail Tabu. She attributed the growth to increase in membership which rose to 400,000. “There are 584 registered Co-operatives in Kiambu. We also have 43…

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Residents told to join Saccos

By Godfrey Wamalwa. Bungoma County women, boda boda operators and the youth have been urged to join the co-operative movement. Ng’arisha Sacco Chairman recently said the sacco sector is the most effective way of fighting poverty and inequality in the society. He urged the youth, women and people living with disabilities to join Saccos in…

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Governor Khaemba promises to create new Saccos

By Kephas Ayiecha. Trans Nzoia County Governor has promised to create new Savings and Credit Cooperative Societies (Saccos) and revive the moribund ones to meet the financial needs of residents. Governor Patrick Khaemba said the county would come up with initiatives that would sustain growth of Saccos. He urged residents to form Saccos that will…

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Reprieve for 11 Saccos as regulator extends licenses

By Jackson Okoth. The Sacco Societies Regulatory Authority (SASRA) has extended the license of 11 Deposit-Taking Saccos that have failed to meet set prudential guidelines. The affected Saccos will now be allowed to operate on a temporary license until December this year when the regulator will again review their liquidity, governance and capital adequacy status….

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Saccos launch interest-free house loans

By David Kipkorir. A consortium of 35 Savings and Credit Cooperative Societies (Saccos) have come up with interest free mortgages on housing loan schemes for their members. Kimisitu Sacco, Safaricom Sacco, Habitat Housing Cooperative, and Nation Sacco started the ball rolling on the scheme dubbed Africa Tenancy Purchase Initiative. An official of the scheme’s steering…

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Kiambu County to register more Co-operatives

By Felix Wanderi. The Cooperative movement in Kiambu County has continued to grow registering a total of 558 Cooperative societies with a membership of 459,806. They boast a share capital of Sh4, 680,426,229 and a turnover of Sh15, 526,777,157. This was revealed during this year’s Ushirika Day celebrations. Speaking during the occasion, the County Director…

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Uasin Gishu’s Shs 1bn Co-op kitty to be set up

By Wasike Elvis. Uasin Gishu County Deputy Governor, Daniel Chemno has reaffirmed the County Government’s commitment to support Cooperatives. “We have issued loans to the tune of Sh127 million to over 57 Co-operatives in the past three years. We are committed to availing more funds to the Cooperatives so that they can be able to…

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Over 200 Saccos in Kilifi registered

By Our Reporter. Kilifi County has registered over 200 Savings and Credit Co-operatives (Saccos) in the last four years. Speaking during the 2017 Ushiriaka Day celebrations held at Kizurini Secondary School in Kaloleni Sub-county recently, Acting Kilifi County Government Executive Committee Member in-charge of Co-operative Development, Christine Pekeshe said 243 have been registered to date….

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Repay loans, women told

By John Ochieng. Women who took loans from the Women Enterprise Fund (WEF) have been told to promptly repay so as to enable others benefit. This was said recently by Higher Education Principal Secretary (PS), Prof. Colleta Suda while issuing cheques for Sh2.2 million to 12 women groups from Rongo and Awendo Sub-counties. She said…

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