Safaricom - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Airtel ventures into home internet to grow customer base

Sacco ReviewJune 15, 202404 mins

Airtel is poised to compete with existing players in Kenya’s home internet market, which has long been dominated by Safaricom. Their new broadband services specifically cater to users in residential and business settings. Named the ‘Unlimited Home Broadband’ service, this product is poised to compete with major operators, including Jamii Telecommunications Limited and Zuku, which…

Kenyans borrowed KSh2.3 billion Fuliza loan daily in 2023

Sacco ReviewMay 10, 202402 mins

Kenyans borrowed at least KSh2.3 billion on Safaricom’s mobile money overdraft product, Fuliza daily in the year ended March 31, 2024. According to the company’s data, the amount borrowed on Fuliza everyday can help to help the government carry out a huge project. The telco’s financial results released in Nairobi on Thursday, May 9 indicates…

Safaricom makes history, records KSh139.9 billion earnings for full year

Sacco ReviewMay 9, 2024May 9, 202403 mins

Kenya telecoms operator Safaricom, today, May 9 announced that its group earnings before interest and tax, excluding Ethiopia, was KSh139.9 billion in its full year to end-March. It becomes first company in the region to cross past billion-dollar mark in earnings after operating profit for the full year to March rose by 20 per cent…

Equity Bank Fourways Branch

Equity Bank named Kenya’s most admired brand

Sacco ReviewMay 8, 202404 mins

Equity Bank has once again been recognized as Kenya’s most admired brand, as banks top the list of best brands in the country. According to the latest report by brand valuation consultancy firm–Brand Finance, Equity attained a brand value increased to KSh65.8 billion, representing one per cent increase. Safaricom follows closely with KSh58.1 billion then…

286,000 locally assembled phones sold since October 2023, says CS Owalo

Sacco ReviewApril 18, 2024April 18, 202402 mins

Some 268, 000 government-backed locally assembled smartphones have been sold to Kenyans since the first consignment was unveiled to the market end of October last year. The figure translate to 80 per cent of the 330, 000 phones assembled. Cabinet Secretary for Information, Communications and the Digital Economy, Eliud Owalo speaking at Aga Khan University’s…

Smiles for savers as Saccos pay high dividends

Sacco ReviewMarch 2, 202403 mins

Top Saccos in the country are paying members at least four per cent more in dividends for their 2023 savings compared to a year earlier. Most cooperatives attributed the performance to muscular growth in its net interest income, enhanced member deposits and increased membership. Safaricom Investment Corporative (SIC) members will take home KSh142.4 million in…

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…

Safaricom Sacco boss quits after seven years

Sacco ReviewAugust 20, 201801 mins

By Our Reporter Safaricom Sacco Chief Executive Officer Dr George Ochiri (pictured) has resigned. In a notice to members signed by Sacco Chairman Collins Ogutu and Vice-chairlady Josephine Ndambuki, Mrs Cynthia Naisisiae has been appointed the acting CEO. Naisisiae has been Safaricom Sacco’s General Manager. Ochiri had served the Sacco for seven years growing it…

Safaricom Sacco lands Tier One status

Sacco ReviewApril 26, 201802 mins

By Munene Maina Safaricom Sacco has finally bagged the coveted ‘Tier One Sacco status’ ranking by Societies Regulatory Authority (SASRA). “As we climb towards the top, it gets steeper; however we are optimistic we shall break into the larger Tier deposit-taking Saccos,” said Collins Ogutu, Safaricom Sacco Chairman. The Sacco closed the fiscal year 2017…