Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Saccos in the country are among top lenders accumulating assets and savings worth billions of shillings. Five top Saccos in the country command a membership of over 517,700. Nairobi City County director of co-operatives Dolphine Aremo said recently that the Capital City hosts to 4978 cooperatives including giant Saccos. In her speech dubbed “Overview of the…
Harambee Sacco is employing every strategy to ensure that they hit their 2025 target of 86,502 members, Sacco chairman Macloud Malonza has said. Speaking during the 52nd Annual Delegates Meeting (ADM) held at Safari Park Hotel, the chairman said the membership currently stands at 74,274 having recruited 6,276 new members in 2022. To help sustain…
By Malachi Motano Most Saccos rewarded members with favourable dividends in the 2019-2020 financial year despite the challenges posed by the Covd-19 pandemic. The Giant Mwalimu National Sacco (MNS) paid only interests on deposits to members at the rate of 9.3%, compared to 2019 when it paid the same at 10.2 and 11.2% dividends. Also…
Sacco paid dividends at 4% this year while interest on deposits at 5.5% this year. By Jackson Okoth A change in its executive suite, which saw the recruitment of a new Chief Executive Officer as well as Head of Finance, Investment and Strategy, combined with surgical spending cuts, is finally paying off for the giant…
