The Leading Newspaper for Co-operative Movement in Kenya
By Our Reporter. The Trans-Elite Sacco, formerly Nandi Teachers Sacco Ltd has embarked on robust marketing to recruit more membership. According to the Chairman, Alfred Ngetuny, the move has seen membership increase from 3,356 in 2015 to 5, 856 in 2016. He said the Sacco had also recorded marked growth which he attributed to factors…
By Wasike Elvis. The first ever Military Veteran Sacco has been launched in the County, according to the CEC in charge of Trade and Industrialization, Philip Melly (pictured). He said the Sacco members comprise of ex-military officers who participated in Second World War, their families and domestic workers. “As a County Government we have been…
By Wasike Elvis. Governor Jackson Mandago has urged the National government to open a Co-operative College in the county. He said that this will offer training on how to manage Savings and Credit Societies (Saccos). “Despite us reviving over 100 Co-operatives and giving them loans, some of the officials lack managerial skills leading to them…
By Dennis Bett. Police in Marakwet West and Marakwet Boda Boda Sacco members are in pursuit of a gang suspected to be stealing motorbikes from the area and selling them to a neighbouring country. The group is suspected to be stealing motorcycles belonging to Kapsowar Boda boda Sacco and other operators in Marakwet West and…
By Kamundia Muriithi. Winas Sacco plans to go big on agency banking in a bid to decongest its banking halls and deliver efficient services to its members. Robert Njue, the Chairman of the Board of Directors revealed that plans were in high gear to launch WINAS Mashinani, which will ensure the Sacco has agents in…
By Jackson Okoth. The newly appointed Commissioner for Co-operative Development, Mary Mungai has issued a stern warming to all Co-operative Societies that do not follow the law that they will soon be de-registered. She made these remarks on the sidelines of recent Kenya Police Sacco Annual Delegates Meeting (ADM) held at Intercontinental Hotel, Nairobi. “We…
By Jackson Okoth. Harambee Sacco Society Ltd posted a decline in net surplus for the financial year ended December 31, 2016 to Sh100 million from Sh106.7 million in 2015. Interest on loans and advances rose from Sh1.5 billion to Sh1.6 billion while net interest income fell from Sh570.8 million in 2015 to Sh310.7 million in…
By Jackson Okoth. The National Treasury is seeking to allow all Co-operative societies to issue Shariah-compliant products, opening up yet another frontline where competition between these societies will be intense. On the list of Saccos that are already Sharia-compliant are Crescent Takaful Sacco Society Limited andTaqwa Sacco Society Limited. Takaful Sacco offers mobile payments, international…
By Staff Reporter. Deposit-Taking Savings and Credit Co-operative Organizations, presently holding more than Sh 600 billion in deposits have been urged to be on the lookout for fraudsters, who are prowling on all their electronic platforms with the aim of carting away millions in stolen cash. While commercial banks have been the main target of…
By Wesley Ken. Mombasa-based Bandari Sacco Society Limited was the first Sacco in the Coast region to register its books of accounts with the Sacco Societies Regulatory Authority (SASRA), a sign of changing fortunes and management in the Society. In order to achieve a solid growth, Bandari opened a common bond to include employees of…
