Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Ebusia Unity Sacco Ltd held elections for the Board of Management during the inaugural AGM held at Busia Agricultural Training Centre. Former Member of County Assembly for Namboboto/Nambuku Ward Hon Vincent Olumbe was elected chairman as Ashley Oundo, Nick Ajuma and Liz Wafula were elected vice chairperson, Secretary and treasurer respectively. Other board members elected were…
Stakeholders in the cooperative movement have decided that the Co-operative Movement Stakeholders’ Conference will now be an annual event, which will be held every year in the month of June. This was agreed during the first conference held at Sarova Whitesands Beach Resort in Mombasa themed ‘Co-operative Business Model for Socio-Economic Transformation’. Itattracted more than…
Avocado farmers in Kakamega county have launched a cooperative society to guide them on the best farming practices of the produce and in preparation for the county government rollout of a World Bank project aimed at promoting avocado farming in the county. Speaking during their first AGM, Mumbo Avocado Farmers’ Cooperative Society Chairman Maxwell Shamala…
Kilifi County Cooperative Development department has registered 45 new cooperative societies. Speaking to Sacco Review in Kilifi town recently, County Cooperative Assistant Director James Mwasi revealed that 20 of the registered cooperatives are community Saccos, 14 are mining Saccos while 4 are boda boda Saccos. He revealed that plans are already underway to revive the giant…
The county government of Kericho has pledged to assist young coffee farmers with technical advice and logistics in value chain to ensure prosperity. Representing county governor Dr. Erick Mutai during the launch of the sale outlet for coffee products produced by the Kipkelion Youth Service Cooperative LTD at Uhuru Gardens in Kericho, chief officer for…
Kaloleni Sub-County Cooperative Officer Evans Malombo has revealed that the 32 registered cooperative societies in the area have disbursed loans amounting to Ksh175,420,309. He noted that the cooperatives have mobilized a turnover of Ksh41,424,998 and share capital of Ksh19,387,684. “Sadly, only 18 cooperatives are active,” he lamented, noting further that membership currently stands at 2,158….
Garissa County Director of Cooperatives Samuel Karanja has urged Saccos to rebrand and recruit more members as a move to increase their savings and cement their loan base. Speaking to Sacco Review newspaper in his Garissa office , Karanja noted that rebranding would enable the recruitment of members beyond Saccos’ geographical territories thus move towards…
A recent report by SASRA has revealed that Sacco accounts holding more than Ksh1 million stood at 92,000 by the end of 2022. This is a 29.6 per cent rise from about 71,000 accounts reported in 2021. The 92,000 accounts, an equivalent of 0.63 per cent of all the 14.52 million accounts, held Ksh163.3 billion…
Deputy Vice Chancellor Finance Planning and Administration at the Co-operative University of Kenya (CUK) and career cooperator Prof Esther Gicheru has called for mergers in the co-operative sector if better governance and management have to be achieved. In her presentation titled ‘The Contribution of the Cooperative Business Model in Development: Practices and Opportunities’ to the…
Greenland Fedha Limited, a subsidiary of Kenya Tea Development Agency (KTDA), has issued loans worth Ksh10 billion this year compared to the Ksh5 billion it disbursed to small scale tea farmers the year before. The high amount issued follows the company’s move to deep slash the interest rates in December 2021. Greenland Fedha Limited Chairman…
