Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Saccos are dragging their feet on diversifying their investments into new areas such as health and education as the high demand for loans among members puts pressure on their wallets. Many Kenyan Saccos are stuck on the primary objective of enabling members to save regularly so as to create a pool of funds from where…
Githunguri Dairy and Community (GDC) Sacco has decried the double taxation that they are subjected to by the government, calling on policy makers to review the relevant laws that have seen them paying duplicated duty on loans advanced to members. According to Sacco chairman Joseph Gitau, they are taxed on members’ income and the same…
Co-operative societies in Kisumu County have been urged to join Sacco Societies Regulatory Authority (SASRA) to improve their financial situation.The officer in charge of cooperatives in Kisumu Central sub-County Philip Akama said they would organise a meeting for members in order to educate them on the importance of being a member of SASRA, a body…
Machakos County Governor Wavinya Ndeti has declared that cooperative societies working with rogue officials to dispossess members of their lands will be dissolved. Speaking outside her office after holding deliberations with the Senate Committee on Trade, Industrialization and Tourism following an invitation by Machakos Senator Agnes Kavindu and Drumvale Farmers’ Cooperative Society, the governor said…
By Agnes Orang’o A lot of conflicts witnessed in cooperative societies are contributed by failure to follow the rules of cooperatives, says Benedict Ngumbau Chief Officer of Cooperatives in Machakos county. Ngumbau spoke after visiting Koma Housing cooperative society and commended them for their commitment to ensuring every member benefits. Chief Officer said that many…
By Stephen Muthini Farmers in Machakos County have received financial boost to increase productivity after the County government issued cheques worth over Sh138 million to various Cooperative Societies and Community Based Organizations. The cheques were issued by governor Wavinya Ndeti at Machakos People’s Park where farmers’ groups also showcased their products. The event billed as…
By Roy Hezron Those who will be buying houses and homes through Saccos for the first time will now start enjoying tax relief of up to Ksh 25,000 on their monthly salary starting from July this year. The move is being pushed for by Cabinet Secretary Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Development…
By Roy HezronVihiga County Government has committed to support Savings and Credit Co-operatives (Saccos) throughestablishment of a revolving fund.Speaking during a stakeholders meeting to discuss the performance of the Vihiga County Traders Saccoin December 2022, the County Governor Dr. Wilber Ottichilo hinted that the Sacco, which mainly drawsits membership from micro and small traders, would…
By Staff Reporter The Sacco Societies Regulatory Authority (SASRA) withdrew the licenses of four deposit-taking Saccos by close of December 2021. Effectively, the four are barred from conducting deposit-taking business in 2022. Affected Saccos are Nyamira Tea Sacco Society Ltd, Uchongaji Sacco Society Ltd, Nanyuki Equator Sacco Society Ltd and Comoco Sacco Society Ltd. SASRA…
By Obegi Malack         obegimalack@gmail.com The Permanent Secretary for State Department of Cooperative Ali Noor Ismail has commended cooperatives for their contribution in the government agenda of affordable housing. The PS who was speaking during Ukulima DT Sacco’s 50th anniversary in a Nairobi Hotel said the Saccos provides 80% of housing needs in the country…
