The Leading Newspaper for Co-operative Movement in Kenya
By Makoma Musyoka. Members of Mukamukuu Farmers Co-operative Society in Matungulu Sub County have been cautioned to be wary of unlicensed surveyors who have been erecting illegal beacons to survey land parcels for members. The society’s outgoing chairman, George Mutiso said several members had fallen victims to the scam, which he said was being perpetrated…
By Tsozungu Kombe. More than officials from nine newly registered Saccos in Kwale County recently underwent training on financial management. The two-day induction course was conducted by the Kwale County Government to enable them manage their Saccos in a more effective and efficient manner. Kwale County Government Trade and Cooperatives Director, Mr. Nyamawih Charo urged…
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 Our Reporter. Coffee farmers allied to co-operatives in Nyeri, Meru and Kirinyaga counties reported improved earnings for cherries delivered to factories this year compared to the previous year. In Kirinyaga, farmers were paid Sh119 per kilogramme of cherry delivered at Thirikwa factory, the highest in the county in the history of the crop in…
By Charles Akivaga. Savings and Credit Co-operative Societies (Saccos) will have to move with speed and align themselves with the changing legislations to remain competitive. According to George Ototo, the Managing Director of Kenya Union of Savings and Credit Co-operatives (Kuscco) Limited, leaders of various Saccos will have to adapt to the new changes in…
By Our Reporter. The list of Savings and Credit Co-operative Organizations (Saccos) that are adopting modern business practices so as to meet rising expectations from their members is becoming longer. The latest player to join this elite club is Ukulima Sacco-which recently attained the ISO 9001: 2008 Certification, completing a journey that began way back…
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 Our Repoter. Trans-National Times Sacco (TNT) has elected new officials after the serving ones on a rotational basis retired. The long-serving chair, Christopher Nyongesa retired and handed the mantle to his Treasurer, Robert Omari. Nyongesa has been serving as the Sacco chairman since 2008. Speaking during the Annual Delegates Meeting (ADM) recently, Nyongesa exuded…
