The Leading Newspaper for Co-operative Movement in Kenya
By Richard Shichangi. Faridi Sacco, formerly Busia Teachers Sacco, has revealed that the Government capping of interest rates dealt a severe blow on its business and affected service delivery. Micheal Ondinya Wambia, Chairman of the Board of Directors-Faridi Sacco told members that a volatile financial market slowed down Faridi Sacco’s business in 2016. Wambia told…
Bungoma County Government has begun an aggressive campaign to mobilize tea farmers in Mt Elgon Sub-County to join Co-operative societies ahead of opening of a tea factory in the area. County Governor, Kenneth Lusaks said his administration is keen to finance the construction of a tea factory in the region once the farmers have joined…
By Our Reporter. Busia MPs and MCAs have been challenged to support the growth of Saccos in the County. Busia County Co-operative Enterprise Development Fund Chairman, Peter Kubebea, said political leaders should use resources allocated to them through National Government-Constituency Development Fund (NG-CDF) or Ward Development Funds (WDF) to finance budding of Co-operatives to empower…
Uasin Gishu County government has highlighted some of its development in the last four years under devolution. During the period, the County’s Enterprise Development Fund (CEDF) disbursed loans amounting to Sh80 million to 35 Co-operative societies at an affordable interest rate of between 5 and 8 per cent. The societies have also been trained to…
By Munene Maina. Kenyans have been cautioned against joining Savings and Co-operative Societies (Saccos) operating like pyramid schemes which are on the rise in the country. Deputy Co-operative Commissioner, J. K. Mwangi called on co-operators to gather knowledge from their County Co-operative officers before joining the Saccos. He said the new societies are enticing co-operators…
By Dennis Bett. Metkei Farmers Co-operative Society, located in Elgeyo Marakwet County, plans to process milk delivered by farmers. The Society which has received financial received support from the County Government to purchase a processing machine worth Sh20 million, will see its members benefit through better prices for their milk. Speaking outside the Society’s offices…
By Dennis Bett. Smartlife Sacco members have been warmed against defaulting on their loan repayments, Chief Executive Officer, Haron Biwott said those failing to meet their obligations with the Savings and Credit Co-Operative Society will be listed by Credit Reference Bureaus (CRBs). Speaking during the Sacco’s Annual Delegates Meeting (ADM) in Kapsowar town recently, Biwott…
By Our Reporter. Homa Bay County Government has launched a Boda Boda Sacco bringing together more than 1,500 registered members.. Speaking at Rangwe recently, Governor Cyprian Awiti (pictured) said his office will set aside Sh6 million to get the Sacco on its feet. He said his administration plans to open motor cycle spare part shops…
By Ben Oroko. Small-holder Dairy farmers in Gusii region are a happy lot following Wakenya Pamoja Sacco Society’s dairy value chain loan project that targets farmers in organized groups. The Sacco’s Agri-business Manager, Fred Miruka explained that the project aims at assisting small-holder farmers to shift from subsistence farming to agri-business through modern farming technologies….
By Our Reporter. Nyanza residents should be sensitized on the importance of investing in Saccos to empower them economically. The Kenya Union of Savings and Credit Co-operatives (KUSCCO), Western Region Manager, Stephen Makori lamented that most Saccos in the region are formed with short-term goals in mind, hence they don’t last. Saying the region had…
