The Leading Newspaper for Co-operative Movement in Kenya
Saccos are required to pay withholding tax on dividends as well as other non-member related activities that generate income. Other form of taxes includes a 10 per cent Excise Duty on the service fee they charge their members. “There are Saccos that have gone into the mortgage business and therefore deserve tax relief. We are…
By Daniel Njoroge Teachers in Muranga County have formed a housing co-operative society to enable them build affordable homes and invest in the lucrative real estate industry. The housing investment society is an initiative of Kenya National Union of Teachers (KNUT) Murang’a South branch which intends to mobilize teachers in the county to pool resources…
By Staff Writer The Co-operative sector has shed off its dark past characterized by corruption, nepotism and poor representatation owing to strong prudential guidelines and supervision by Government agencies. This is according to the Sacco Society Regulatory Authority (SASRA) CEO, John Mwaka. “While corporate governance issues are still common in the financial sector, we have…
By Our Reporter A famous Chinese quote states that a journey of thousand miles starts with one step. This is indeed true for Qwetu Sacco which began its journey in the Co-operative movement 39 years ago. The society has its headquarters in Wundanyi Sub-County. The society began as Taita Taveta Teachers Sacco in 1976, an…
By Dennis Amoto President Uhuru Kenyatta has urged the Co-operative movement to support the government’s industrialization efforts by facilitating farmers engage in value addition of their produce. He said value addition would ensure farmers earned more than they would if they sold raw farm produce. The Head of State pointed out that the Co-operative movement…
By Munene Maina Rose Chepngetich has set her eyes on making an indelible mark on the cooperative movement in Kenya. As CEO of Kimbilio Daima Sacco, based at Konoin Sub-County, Bomet County, Chepngetich says that nothing succeeds like success. She has been at the helm of Kimbilio Daima Sacco for the past 15 years, overcoming…
By Collins Akong’o Mafanikio Sacco is set to open a new branch at Ukunda on 18th February, 2017 in its bid to net more members and deliver services closer to its customers and clients. Mrs Eunice Kaboi, Mafanikio Sacco CEO said the new branch will bring services to the door steps of members, freeing the…
By Kiptanui Rutto Thamani Sacco has come a long way and has supported its members to upgrade their living standards, majority of them being farmers. Its CEO, Rose Kithinji said the Society, formerly Nithi Tea Growers Sacco Ltd was registered in November 1987 with the mandate to mobilize member’s savings and ensuring that they access…
By Jackson Okoth Members of the collapsed Good Life Sacco as well as its sister arm Fedha Micro Investment Ltd have petitioned the Sacco Societies Regulatory Authority (SASRA) to ensure safety of the properties which they used as collateral to secure loans from the Society.In addition to securing their log books and land title deeds,…
By Enock Okong’o Small scale tea farmers from Kisii County have been asked to embrace table banking to enable them mobilize resources to educate their children. Saying big financial institutions have been built from embracing small savings culture a Kisii businessman Francis Ombogo told farmers to form village groups geared towards their economic empowerment. Ombogo…
