debt – Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Kirinyaga Governor wants coffee cooperatives Ksh 1.6Bn debt waived to accelerate growth

Sacco ReviewMarch 27, 202604 mins

Kirinyaga County Governor Anne Waiguru has called on the national government to fast-track the waiver of Ksh1.06 billion in debts owed by 14 local coffee cooperatives. Waiguru said the debt burden is hindering the full revival of the coffee sector and continues to weigh heavily on farmers. Waiguru emphasized that resolving this issue would complement…

South Rift leaders appeal to State to waive tea farmers’ debts

Sacco ReviewSeptember 2, 2024September 2, 202403 mins

Bomet Governor Hillary Barchok and his Kericho counterpart Erick Mutai are seeking a debt waiver from the national government to bail out the financially overwhelmed tea industry in the region. Speaking during a meeting held at Bomet hotel with officials from the Kenya Tea Development Agency (KTDA) led by newly elected National Vice-Chairman Erick Chepkwony…

New KCC risks losing assets to pay ex-employees

Sacco ReviewAugust 30, 2024August 30, 202403 mins

The New Kenya Cooperative Creameries (KCC) risks a probe on its properties to determine if part could be sold to settle former employees’ outstanding dues. This comes after its management failed to attend the Senate Committee on Labour and Social Welfare meeting held yesterday to find a solution to the decades-long dispute over compensation for…

KCC to halt milk supply to Govt agencies over Ksh184.3M debt

Sacco ReviewAugust 27, 2024August 27, 202404 mins

Members of Parliament have instructed the New Kenya Co-operative Creameries (KCC) to halt milk supply to the State House and other government agencies that have pending bills worth Ksh184.3 million. This is after the New KCC Managing Director Samuel Ichura and Cooperatives Principal Secretary (PS) Patrick Kilemi appeared before the National Assembly Committee on Trade,…

Siaya Ufanisi Sacco decries delayed Ksh3.6M remittances from county

Sacco ReviewMay 13, 2023May 13, 202304 mins

Operations at Siaya Ufanisi Savings and Credit Cooperative Society Ltd have been negatively affected as the county government is yet to Ksh3.6 million it owes to the cooperative. Speaking during the recent ADM, Sacco Chairman Tom Adero noted that despite improved remittances by the current county government, the issue still needs to be addressed amicably…

Over Sh5 billion Owed to Saccos by Employers in Non-Remittance, Report

Sacco ReviewOctober 11, 2021October 11, 2021011 mins

By Our Reporter Despite the stellar performance of the Deposit Taking (DT) Saccos during the troubled 2020 financial year, Sacco regulator SASRA blames perennial delays in remittances of statutory deductions for topping the list of un-warranted challenges that hamper the growth and development of the societies. According to the SASRA’s 2020 Sacco supervisory annual report,…

Soaring debt puts Ndege Chai Sacco members on toes

Sacco ReviewApril 30, 201802 mins

By Benedict Ng’etich The General Manager in charge of Operations at James Finlays, Kipchumba Bullut has said the company which is the biggest stakeholder at Ndege Chai Sacco was greatly concerned with the high level of indebtedness by some members. He called on them to borrow loans which they were comfortable with and could be…