Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Tea farmers from Embu county have been trained on diversified farming methods which include planting fruit trees and food crops in a single field as well as livestock and aquaculture farming as a means to achieve food security and financial security. The training was courtesy of Daima Sacco. Speaking at Kigari Teachers Training College, Sacco…
As a financial year comes to an end, cooperatives need to review the year’s performance through the annual general meetings. Cooperatives are democratic organizations that are controlled by members, who actively participate in setting policies and making decisions. Members are the source of all authority and the basic unit of democratic control. Members need to…
Small rural based enterprises, especially women groups in Embu county, have appealed for help from various experts in the cooperative movement to help them create ecofriendly products. One such enterprise is Kiritiri Kwimenya Self Help Group which makes eco-friendly Kiondo bags from sisal fibre. The bags are mainly sold through barter trade with maize growers…
Following the liberalisation of the cooperative sector vide the Sessional Paper No 6 of 1997 and the subsequent enactment of the Cooperative Societies Act , No.12 of 1997 (Amendment 2004), supervisory committees were introduced in all cooperatives. Their mandate is to oversight cooperatives, a function that had hitherto been played by cooperative officers from the…
By Felix Wanderi Co-operative Bank board of directors has recommended a dividend of Ksh 1.50 per share, subject to approval by the regulators and shareholders. Co-op Bank Group CEO Gideon Muriuki said the proposed dividends represent a 50 per cent increase on the Ksh 1.00 per share paid out last year. He added that the bank will pay out a…
By David Kipkorir Savings and Credit Co-operatives (Saccos) have been urged to turn their institutions into neobanks (online banks without traditional physical branch networks). Cynthia Wandia, the Chief Executive Officer (CEO) and Co-founder of Kwara Limited recently said that turning Saccos into neobanks will help them deal with industry challenges and build new customer bases….
Fredrick Odiero The Kisumu County Government has called upon youths who are engaged in various enterprises to form Savings and Credit Cooperative Societies (Saccos) in order to advance their activities. The Director of Co-operatives, Trade and Enterprise Susan Kanga said Saccos when formed will ensure youths borrow credit and other facilities from the government. Addressing youth…
By Collins Akong’o Saccos in Mombasa County have been urged to seriously embrace information and communication technology in order to enhance efficiency in service delivery. County Co-operatives Director, Nelson Nyoro said technology was the surest way of offering quality services. He was speaking during Tramom Sacco recent annual general meeting. The Sacco supervising committee chairlady…
By Jackson Okoth The curtain has already come down on the Annual Delegates or General Meetings by members of Deposit-Taking Saccos, this publication provides you with a list of some of the most rewarding financial societies in terms of what they paid members as Dividends on Share Capital as well as rebates or Interest on…
By Munene Maina Dimkes Sacco posted a strong financial performance for the fiscal year ending 31st December 2018 registering an asset base growth rate of 5.4 per cent to reach Sh1.59 billion. The Sacco, which had positive outcomes in all growth parameters, also recorded increase in members’ deposit to reach Sh1.35 billion in 2018 from…
