The Leading Newspaper for Co-operative Movement in Kenya
By Kage Njoroge. James Kimani Mbui the Chief Executive Officer of Muranga-based Amica Sacco Ltd, formerly Murata Sacco is considered one of the captains in the Sacco industry with vast experience. Considered one of the best performing Chief Executives, the 48-year- old Mbui begun his journey in the Sacco industry more than 26 years ago…
By Jackson Okoth. Intense lobbying by the Sacco industry has succeeded in ensuring that the Sacco Societies Regulatory Authority (SASRA) will not be merged into the yet to be constituted Financial Sector Authority (FSA). The National Treasury has proposed the creation of a merged financial services regulator that will amalgamate the Retirements Benefits Authority…
By Stephen Makabila. The new Commissioner for Co-operative Development, Mary Mungai, has spelled out her four major priorities for the sector’s transformation, strongly indicating it will not be business as usual for the sector. “I intend to bring positive change for the sector’s development, not to add up to the statistics of those who have…
By Ken Langat. A world class Sacco, Ndege Chai Ltd posted significant growth last year despite battling to adjust to various challenges, such as the new credit regulations barriers, unfavourable weather dictates including market parameters that seemed to have dogged most of its members. Sacco members had no options but to swallow bitter pills when…
By Kamundia Muriithi. Winas Savings And Credit Co-Operative Society Limited, formally Embu Teachers Sacco Limited is among Societies that weathered a difficult economic climate, to post impressive results. The Society, with an asset base of Sh3.4 billion, recorded an increase in income to Sh 611 million in the year ended 31st December 2016 compared to…
By Wesley Ken. Solution Sacco Limited reported exponential growth in the year ended 31st December, 2016. This is amid challenges and stiff competition in the Financial Environment. This impressive performance is a culmination of prudent management, provision of market driven products, seminars, excellent customer service and rigorous marketing. Total assets shot up from about Sh2.9…
By Peter K. Angore. Imarika SACCO once again held a memorable end of year get together to award best savers in respect to Malaika Junior Savings account holders. Malaika Junior Savings a/c is a product for children aged 18 years and below. The ceremony was held at the Reef Hotel for all children with accounts…
The County Government is formulating a legal policy framework to accelerate the growth of the Cooperative activities in the region. Governor Ranguma revealed that the County Government in collaboration with the Co-operative Alliance of Kenya is at advance stages of developing a Cooperative Society Bill. In a speech read on his behalf by the County…
By Jackson Okoth The National Treasury has indicated that it has set aside an undisclosed amount of money to be used in setting up an inter-lending facility for Savings and Credit Co-operative Societies (Saccos). However, its move to create what will be known as a Central Finance Fund (CFF) is being frustrated by the slow…
By Ken Langat. Kenya Highland Sacco Ltd has completed the purchase of the building housing Standard Chartered Bank in Kericho town at a cost of Sh105 million and unveiled a multi-million shilling upgrade plan. The Standard Chartered Bank Building is sandwiched between KCB Bank and Barclays Bank Kenya along the busy Kericho-Kisumu highway. During this…
