The Leading Newspaper for Co-operative Movement in Kenya
By Munene Maina. Bingwa Sacco Ltd has raised Sh103 million in a share drive promotion that started in October last year. “This is a big success for our Sacco. The share drive was an arduous task but I am happy we were able to surpass our target of Sh100 million,” said the Sacco chairman, Cyrus…
By Jackson Okoth. A number of deep pocketed Savings and Credit Co-operatives (Saccos) are setting up ultra-modern complexes with a view to leasing or renting out office space to interested parties. This segment of the property market is becoming an attractive option for the Saccos eager to pump more cash in the form of rental…
By Titus Wafula Kakamega Entrepreneurs Sacco (KES) Limited’s membership has grown steadily to more than 400 entrepreneurs with businesses since it started in 2002. Having been established with the sole aim of assisting small-scale businesses, the Sacco has over the years expanded to incorporate a larger segment of workers from various organizations. And with a…
By Munene Maina. Daima Sacco has rolled out agency banking in a move aimed at expanding its reach countrywide. The Sacco plans to set up agencies at various trading centers in Embu before moving to other counties enabling its members get several banking services closer home. This comes as a relief to many people…
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…
By Kephas Ayiecha Trans National Times Sacco has warned of stern action against Sacco members who default on loans. Sacco Chairman, Christopher Nyongesa (pictured) said the defaulters had caused the society to fail to implement its projects and risk being overtaken by others. Nyongesa noted that as a result, some faithful members who had acted…
By Our Reporter Invest & Grow Savings and Credit Co-operative Society Limited (IG) Sacco has embarked on an ambitious plan to recruit more youth, women and disabled persons to become members. In order to achieve this, the Sacco has launched new financial products that will appeal especially to the youthful teachers who have been recently…
By Wesley Ken C.S Peter Nyamai, the Mombasa Port Sacco Chairman, is a seasoned Cooperative management guru. Prior to joining Mombasa Port Sacco (MPS) in 2013, Nyamai had held, among others; the position of Vice–Chair at Bandari Sacco. Bandari has been for the Kenya Ports Authority (KPA) employees whereas MPS was for Kenya Cargo Handling…
Winas Sacco Limited, formerly Embu Teachers Sacco, is 8th on the table after it declared a dividend of 12.2 per cent on shares and 12.5 per cent on member deposits for the financial year ended December 31, 2016. Established in 1977 to serve teachers in the larger Embu district, the society has rebranded and…
By Wasike Elvis. Uasin Gishu County Government through the Ministry of Trade is set to revive all collapsed Cooperative Societies in the County by giving out funds for this purpose. According to the CEC in charge of Trade, Industry and Tourism Philip Melly, most Cooperatives collapsed due to mismanagement, corruption and lack of qualified staff…
