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By John Majau The Meru County Government in partnership with the Co-operative Bank has introduced a new payment model for coffee farmers which is meant to speed up the payment of cherry once it is delivered to the factory. The new format dubbed the “coffee-cash model” will reduce the lengthy waiting periods farmers undergo before…
By Munene Maina Co-operative societies countrywide braved tough economic period to post good returns to members during the financial year 2017. Going by financial reports presented to members and delegates during Annual Meetings, most societies defied odds and pundits extrapolations of negative outcomes, to register impressive performance for the year. Prolonged drought, long electioneering period,…
By Enock Kipturgut Tugen Hills Coffee Farmers Cooperative Society is the winner of the Agriculture and Food Authority (AFA), Coffee Directorate Growers Excellence Recognition Award 2018 Baringo Central Chapter. Addressing coffee farmers drawn from Baringo Central Sub County at Tugen Hills Coffee Factory at Katimok Forest, National Director for Agriculture and Food Authority (AFA) Coffee…
By Azael Masese Suba Teachers Savings and Credit Co-operative Society has rebranded to Fortitude Sacco, in a move aimed at improving its critical market segments. Chief Executive Officer Mr Odhiambo Muganda said opening the common bond followed complaints from the public that the previous operations had locked them from accessing their financial services. “Our key…
By Our Reporter Murang’a Women Sacco expects to generate Sh1 million in rent per month after the completion of a five storey hostel that has cost over Sh100 million. The Sacco which has over 25,000 members started the construction of Muranga University hostels in 2015, two years after it was started. Rose Waithigo, the Sacco…
By James Wakahiu Financial institutions all over the world are crippled by people who secure loan but fail to repay them, Thika West Sub-County Deputy Director of Co-op Development Catherine Mbuki has said. Speaking to members of Urithi Premier Sacco in Thika, Mbuki said defaulters had led to the collapse of many Saccos in the…
By Staff Reporter The Government has officially endorsed the Kenya National Union of Co-operative Staff (KNUCS) and directed all employers under the co-operative sector to co-operate with it. In a letter dated May 4, 2018 addressed to the Co-operative Alliance of Kenya (CAK), the Commissioner of Co-operatives Mary Mungai told employers in the sector that…
By Patrick Odenyo Savings and Credit Co-operative Organizations (Saccos) are warning that the proposed changes in laws governing the sector are likely to stifle growth and put members’ savings at risk. According to Co-operative Alliance of Kenya (CAK) Executive Director Daniel Marube, the proposals contained in the Sacco Societies (Amendment) Bill 2018 will open room…
By Wesley Ken Having successfully attained the requisite asset base, Kimisitu Sacco Society is now officially in the tier one category of Saccos. To give its nod, the Sacco Society Regulatory Authority (SASRA) assesses the concentration risk of a DT-SACCO and its standing among its peer group in terms of total assets in order to…
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