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Gusii Mwalimu DT Sacco records strong growth as assets rise to Ksh18.4 billion

Sacco ReviewApril 7, 2026April 7, 2026011 mins

Gusii Mwalimu DT Sacco has recorded impressive growth across key financial indicators, with total assets rising from Ksh16.2 billion in 2024 to Ksh18.4 billion in 2025, representing an increase of 13.3 per cent. The Sacco also registered steady growth in deposits, loans, revenue and membership, underscoring its strong position within Kenya’s co-operative movement and its commitment…

Matatu Saccos not collecting revenue for county, says Machakos Finance Executive

Sacco ReviewSeptember 6, 202504 mins

Machakos County Finance Executive Member Onesmus Kuyu has refuted claims that Matatu Sacco members have been collecting revenue for onward transmission to the County Treasury contrary to regulations. The claims were made by Mua Ward MCA Mr. Francis Ngunga while contributing to a motion on the floor of the County Assembly on Tuesday. Mr. Kuyu,…

Meru County seeks to boost revenue with structured parking fees

Sacco ReviewSeptember 2, 202503 mins

The Meru County Government has introduced a new structured approach to seasonal parking revenue collection. The bid is aimed at enhancing revenue collection and strengthening its partnership with the transport sector. The innovative strategy, which targets matatu and taxi operators, is focused to improve compliance, accountability, and efficiency in revenue collection. In a consultative meeting…

KRA hits Ksh1 trillion revenue collection mark, record growth of 4.3%

Sacco ReviewDecember 9, 202403 mins

Kenya Revenue Authority (KRA) has hit the one trillion mark after collecting Ksh1.005 trillion as of 30th November, 2024. This is a growth of 4.3% compared to Ksh963.7B collected in the same period the previous financial year when the Ksh1 trillion target was reached on December 8, 2023. “Kenya Revenue Authority (KRA) has surpassed the…

CIC profits increase by 818 per cent to KSh1.4 billion in 2023

Sacco ReviewMay 15, 202402 mins

CIC Insurance Group’s 2023 profit after tax increased by 818 per cent of Sh1.4 billion as a result to the improved investment income and growth in insurance revenue. “The business maintained a growth trajectory driven by the execution of our transformational initiatives focusing on customer experience, performance management, operational efficiency, digital transformation, research and innovation,…

ABSA bank raises dividends after strong 2023

Sacco ReviewMarch 20, 2024March 21, 202402 mins

Absa Bank reported a net profit of KSh16.4 billion for 2023, up 12 per cent from the previous year thanks to rising revenues as a result of increased funding of core sectors fueling Kenya’s economic growth. READ ALSO: Jubilee Insurance scoops three awards in annual fete The firm’s board announced a 15 per cent increase…

Kisumu, Safaricom unveil system to ease payment for county services

Sacco ReviewJanuary 27, 2024January 27, 202405 mins

Kisumu County has partnered with Safaricom to unveil a new Integrated County Revenue Management System (ICRMS) to offer a one-stop platform for residents to access and pay for county services. Governor Anyang’ Nyong’o remarked that the automated system will not only enhance accessibility and transparency but also boost its Own Source Resource (OSR) collection. “With…

Kisumu, Safaricom ink deal to boost revenue collection

Sacco ReviewNovember 27, 2023November 27, 202303 mins

The county government of Kisumu has partnered with Safaricom to scale up revenue collection in a major deal where the devolved unit targets to net Ksh2.2 billion in the 2023/2024 Financial Year (FY), an increase of Ksh1.1 billion from the previous year. The County Executive Committee Member (CECM) in charge of Finance, Economic Planning, and…