The Leading Newspaper for Co-operative Movement in Kenya
By Titus Wafula Kakamega Entrepreneurs Sacco (KES) Limited’s membership has grown steadily to more than 400 entrepreneurs with businesses since it started in 2002. Having been established with the sole aim of assisting small scale businesses, the Sacco has over the years expanded to incorporate larger segment of workers from various organizations. And with a…
By Richard Shichangi The County Co-operatives Officer, Samwel Khatenya, has asked Saccos in the region to develop strong check off systems when giving out loans to members. This is to reduce incidences of members defaulting on their repayments. Saccos, he pointed out, will also improve their cash flow through an elaborate loan recovery system. “Although…
By Tito Tavasi The Kakamega County Minister for Agriculture and Co-operative Development. Kulati Wangia has said that Co-operative Societies including Savings and Credit-operatives (SACCOs) can be crucial economic transformers in the County. He made these remarks while launching the formation of Shinyalu, Ikolomani and Khwiserotea co-operative societies. “We will continue to facilitate formation of more…
By Alfred Kimosop Boresha Sacco has been lauded for its progressive policies which have made it a top performing deposit taking Sacco in the country. According to the East African Tea Trade Association (EATTA) Managing Director, Edward Mudibo, the Sacco has potential for further growth due to policies and strategies it has followed over several…
By Jackson Okoth Bandari Sacco Society Limited posted net surplus of Sh 182,652,934 in the financial year ended December31st, 2016 compared to Sh 57,284,534 the previous financial year. According to the Society’s statement of profit or loss and other comprehensive income, interest on loans went up to Sh 644.6 million in 2016 from Sh582.8 million…
. By Munene Maina Bingwa Sacco Ltd has raised Sh103 million in a share drive promotion that started in October last year. “This is a big success for our Sacco. The share drive was an arduous task but I am happy we were able to surpass our target ofSh100 million,” said the Sacco chairman, Cyrus…
Gakuyo Real Estate has partnered with Ekeza Sacco to enable its members own homes at a cheaper price and acquire suitable land for farming in Kaloleni, Mavoloni. The company has started plot allocation. Gakuyo Real founder cum Chairman Dr. Kariuki Ngari said the land is good for agri-business especially horticulture farming. He said members will…
KWALE By Our Reporter Teachers in Kwale County have been urged to join Saccos in large numbers to secure loans so as to accomplish their dreams. Kenya National Union of Teachers (KNUT) Msambweni branch Vice Chairman, Saidi Mwakuzimu said teachers in the region retire and continue to wallow in abject poverty due to failure to…
By Our Reporter As various Saccos alter and amend their by-laws to allow members to be represented through a delegates system, a section within the co-operatives system are not uncomfortable with this emerging trend. The question is whether members should retain Annual General Meetings(AGMs) as the supreme authority of a Sacco or pass this authority…
“The new rates will come into effect from December 1, 2016 and will apply to newly applied products. The changes will not apply retrogressively. Other terms and conditions applicable remain as before,”Mr Richard Nyaanga, Acting Chief Executive Officer of Ukulima Sacco Limited stated. Ukulima Sacco has reduced interest rates on 8 out of its 19…
