The Leading Newspaper for Co-operative Movement in Kenya
By Dennis Bett Trans National Sacco (TNT), formerly Trans Nzoia Teachers Sacco (TTS) has rolled out an ambitious plan that will see it open up a branch in each town within the North Rift region as well as grow membership to 50,000 by 2020. The society’s management recently met in Eldoret for a oneweek workshop…
By Erick Nyayiera Dairy farmers in Siaya County are currently recording low milk production as a result of the drought which has affected the region from mid last year. Sam-Malanga Dairy Cooperative Society Manager, Japheth Ayoo said milk supply has drastically reduced thus affecting profitability. He states that as opposed to the previous period when…
By Tsozungu Kombe Fifty new Cooperative societies have been registered in Kilifi County in the last two years. Kilifi County Trade, Industrialization and Co-operatives Development Ministry Chief Officer, Ms. Patience Tsimba Umazi, said this was an indication the Cooperative movement was active despite challenges it faced. Seven societies that had collapsed had been revived, she…
Young people in Taita Taveta County have been urged to join Saccos in large numbers to boost their economic status. Taita Taveta County Cooperative Commissioner, Andrew Mbinga said the only secret to fighting poverty is by joining Saccos in large numbers. He urged the youth to join Saccos and get loans to better their livelihoods….
By Jackson Okoth An American consultancy appointed to assist the Sacco Societies Regulatory Authority (SASRA) set up a facility to allow Saccos lend to each other like banks do, is almost completing the task. Madison-based Dave Grace & Associates is expected to provide a roadmap for establishment of central liquidity facility for Savings and credit…
By Jackson Okoth It is back to the drawing board for Board of Directors and top management of most Deposit-Taking Saccos as they scribble on their notebooks, punch away at their calculators and scratch their heads in coming up with new prices for financial products. This follows recent amendments to the Banking Act, limiting the…
By Jackson Okoth A bill that the Sacco Societies Regulatory Authority (SASRA) to vet all top Sacco officials engaged in Deposit Taking business is currently before parliament. The Sacco Societies (Amendment) Bill 2016, received unanimous support from Savings and Credit Co-operative Society industry bigwigs after two days of stormy debates at the Sarova Whitesands Beach…
By Jackson Okoth Kimisitu Sacco, which draws its membership from Non-Governmental Organizations (NGOs), embassies and international missions, plans to launch a Front Office Service Activity (FOSA) wing. This will enable it to offer quasi-banking facilities to its members. “We have to first have the right capital ratios as well as satisfy several regulatory requirements before…
By Our Reporter Saccos in Kericho have a recorded an increase in bonus payouts to tea farmers this year compared to last year. Kenya Highlands Sacco paid farmers Sh2 billion in bonuses, an increase of 56 per cent from last year. “The money should have an impact on the area. It will go a long…
By Ken Langat Bodaboda Sacco Ltd of Belgut constituency has made a major move towards having a solid financial footing after receiving an injection of Sh1.5 million from a successful funds drive by MP Erick Keter. The Sacco has faced financial difficulties in the past, forcing it to rely on the financial and moral support…
