Coffee Cooperative Societies’ creditors at Kenya Bankers Sacco holding a meeting with CS for Cooperatives Simon Chelugui. Photo by Obegi Malack

Team formed to address debt write-off for coffee farmers

Cabinet Secretary for Cooperatives and Micro, Small and Medium Enterprises Development Simon Chelugui has said the government will form a multi-agency validation team to analyze the submitted debt waiver claims from cooperative societies and prepare a report to the National Treasury for release of funds. The CS who was speaking during a consultative meeting with…

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Nairobi Woman Representative Esther Passaris

Passaris urges Treasury to increase tax to bar banks, Saccos from lending to government

Nairobi Woman Representative Esther Passaris has urged the National Treasury to push the 5 per cent withholding tax on the interest income earned from the infrastructure bonds to 20 per cent. She revealed this in a statement on Thursday, May 16, 2024 seen by Sacco Review where she noted that the current proposed tax will…

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SASRA mulls direct deduction of Sacco dues from exchequer

Sacco Societies Regulatory Authority (SASRA) has plans to create a framework that will see the National Treasury (NT) deducting funds directly from exchequer-funded entities to Saccos. SASRA Chairperson Jack Ranguma said county governments and their legislative assemblies, as well as public universities and tertiary colleges, have continued to top the list of defaulters of Sacco…

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