The Leading Newspaper for Co-operative Movement in Kenya
By Asa Maina Biashara Sacco was the first among business Saccos that paid the highest dividends on shares and highest interest rates on deposits during Nyeri’s Ushirika Day celebrations. The Sacco paid out dividends at a rate of 18 per cent on shares to its members and a 13 per cent interest rate on deposit…
By Staff Reporter Equity Bank has signed a deal to buy the teachers -owned Spire Bank and inherit over 20,000 depositors and 3,700 loan customers by November 2022. Mwalimu National bought the cash strapped Spire Bank for KSh2.4 billion from business mogul Naushad Merali in 2015. Unlike in common buyouts where Equity Bank would be…
By Shichangi Richard Kakamega County celebrated this year’s world Cooperative Day with speakers making passionate calls to the Sacco management to focus on improving the lives of their members. Speaking during the occasion, chief guest Recheal Okumu underscored the need of Sacco management to invest in human resources so that they can have managers who are…
By Peter Otuoro 33 cooperative societies in Nakuru County were awarded for their big contribution to the cooperative movement during a colourful Ushirika Day celebrations in Kunste Hotel in Nakuru City. Nakuru Governor Lee Kinyajui who was the chief guest thanked all Cooperatives for their resilience even in the hard economic times engineered by the…
By Erick Nyayiera Calls for the establishment of a Cooperative training institute dominated the Kisumu County Ushirika Day celebrations as various rural Saccos underscored its importance in helping improve the performance of the sector. Kisumu County Ushirika chairman Edward Matoke, while addressing the celebrations, noted that the institute will be pivotal in training of Sacco…
By Sacco Review Reporter Kenya’s vibrant cooperative sector will gain immensely if the promise by President-Elect William Ruto to reduce the price of fertilizer is implemented. While speaking in Meru over the weekend, Ruto hinted at a possible reduction of fertilizer price from the current Ksh.6,500. “I have had meetings with those at the Ministry…
By Kevin Odera/ Roy Hezron Kenya’s savings and credit co-operative (Sacco) sub-sector has recorded a growth in its asset base to reach Ksh 807.11 billion in 2021, the recently released the Sacco Society Regulatory Authority (SASRA) report has shown. According to the country’s Sacco regulator, the sub-sector total asset base increased from Kshs 734.22 billion…
By Musyoka Kaleti County Cooperative societies have urged the government to consider channeling the social protection funds for the aged through Saccos to make it easy for them to access their funds. This was said by Diana Wawira Mbogo, Chief Executive Officer of Daima Sacco Society during this year’s 100th Ushirika Day celebrations at Kangaru…
By Asa Maina Nyeri County is largely dependent on the Cooperative sector for its socio-economic growth and transformation, governor Mutahi Kahiga has said. Enumerating the successes of the sector, Kahiga said that the county has over 193 active Cooperative Societies with a total share capital of over Ksh2.3 billion, an asset base of over Ksh19…
By David Kipkorir Nafaka Sacco has joined in the long list of Saccos rebranding and is set to rebrand as it seeks a bigger pie in nationwide membership drive. “Through this rebranding, we have embarked on an exciting adventure to increase our visibility and accessibility countrywide,” said Nafaka Sacco chairman Mr Raymond Kipkoech Mwarey. Speaking…
