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By Jackson Okoth An American consulting firm hired to do a feasibility study on the possibility of setting up an inter-Sacco lending facility has presented a draft report to the Sacco Societies Regulatory Authority (SASRA). Dave Grace & Associates presented its findings to the SASRA Board recently, bringing closer the possibility that Deposit-Taking Saccos could…
By Staff Reporter Stake Kenya Sacco Society, formerly known as Kuria Teachers Sacco Society Ltd, is seeking to recruit fishermen located at Muhuru Bay into its membership. “We are targeting to recruit fishermen operating along Muhuru Bay in Lake Victoria where fishing is the main economic activity as well as other small traders,” said Mr…
By Ken Langat Bodaboda Sacco Ltd of Belgut constituency has made a major move towards having a solid financial footing after receiving an injection of Sh1.5 million from a successful funds drive by MP Erick Keter. The Sacco has faced financial difficulties in the past, forcing it to rely on the financial and moral support…
“The consultants will pave way for the stakeholders’ consultation as we gear up to the new policy whose draft is complete,” noted the official. For the Co-operative Development policy, a National Leaders Conference should have been held last year to validate it, but the process has dragged on for what insiders attribute to logistical challenges…
tem, set up in 2009, allows members to access their accounts 24 hours a day while providing more independence and freedom to members who can transact trough the mobile phone. “Members can access their accounts 24 hours a day, on weekends including Sundays and are not limited by time or their location. Any Sacco on…
By Jackson Okoth The Commissioner for Co-operative Development has instituted a statutory inquiry in United Nations Sacco Society (UN Sacco). The areas to be investigated during the inquiry, according to Gazette Notice No. 10042, include the Society’s By-Laws, Working and Financial Conditions and Conduct of the Management Committee, past and present members or officers of…
By Kiptanui Rutto Demand on loans is on a consistent rise and Saccos are seeking more ways of providing easy access of loans for their members. This is why Saccos are now looking for external funding to fulfill this demand. The number of registered Saccos continues to grow thus forcing them to look for new…
“The new rates will come into effect from December 1, 2016 and will apply to newly applied products. The changes will not apply retrogressively. Other terms and conditions applicable remain as before,” Mr Richard Nyaanga, Acting Chief Executive Officer of Ukulima Sacco Limited stated. Ukulima Sacco has reduced interest rates on 8 out of its…
By Titus Murithi Dhabiti Sacco was established in 1991 and was then known as Meru North Farmers Sacco. Its main focus was to provide financial services to members in Maua town. The Sacco had over 40,000 coffee farmers from Nyambene region and was formed after three coffee Co-operative societies Igembe, Tigania and Miathene merged to…
By Munene Maina Unison Sacco has embarked on an ambitious share drive with an aim of raising working capital. “We should embrace this drive to make us realize our targets and dreams,” said the Sacco’s Chairman, Mr James Muhandi in a Board of Directors’ report. With the drive members are poised to earn higher dividends…
