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KNCCI chairman urges SMEs to understand taxes for business resilience and compliance

Sacco ReviewNovember 7, 202404 mins

The proprietors and managers of small and medium-sized enterprises (SMEs) have been urged to keenly research and understand the types of taxes that affect their businesses for resilience and tax compliance. The Chairman of the Kenya National Chamber of Commerce and Industry (KNCCI) Kericho branch Rev. Reubenson Malakwen Bett said SME managers should try to…

Agricultural Food Authority lauds MPs for amending Financial Bill

Sacco ReviewJune 19, 202404 mins

The Agriculture and Food Authority (AFA) has lauded members of the National Assembly for listening to the cries of Kenyans before adjusting the Finance Bill 2024. AFA board member Samuel Ongow singled out the proposed taxes on sugar transportation, which he noted, was going to be a burden to cane farmers across the country. Speaking…

Programme to boost SMES in training, linkages and financial access launched

Sacco ReviewApril 12, 202404 mins

Over 1500 Small and Medium Enterprises (SMEs) from across the country are set to receive a boost in financial literacy training, market linkages, business networking and financial access through a newly launched empowerment programme. The Inua Biashara programme brings together financial institutions, media houses, the national chamber of commerce and industry as well as learning institutions;…

Safaricom Sacco to targets SMEs in new market strategy

Sacco ReviewJanuary 13, 2024January 13, 202402 mins

Safaricom Sacco Limited is set to broaden its customer base by focusing on Small and Medium Enterprises (SMEs). This was revealed during a meeting with Cooperatives and MSMEs Cabinet Secretary Simon Chelugui. “Today, I received the Board of Safaricom Sacco Limited who paid me a courtesy call where we discussed many issues including broadening of…

Businesswomen urged to form coops, take advantage of Govt funding

Sacco ReviewOctober 17, 2023October 17, 202304 mins

Businesswomen have been urged to form cooperatives and groups in order to enhance their chances of accessing government credit facilities. Speaking during a sensitization forum for over 500 leaders of registered women groups from Kisumu County, Cabinet Secretary (CS) for Information, Communication and the Digital Economy Eliud Owalo observed that cooperatives provide access to financial products and…

Finance agencies asked to motivate coffee farmers for investments

Sacco ReviewSeptember 23, 2023September 23, 202302 mins

A Matungulu Constituency doctor has asked banks and micro -finance institutions to come up with schemes to motivate coffee growers for investments in the region. Dr Philip Munyao, a consulting doctor, said financial institutions should train farmers on investment opportunities, saying that if there were regular fora organized by the banks, the interaction will encourage farmers to…

Report: SMEs worst hit by debt crisis

Sacco ReviewSeptember 5, 2023September 6, 202303 mins

A recently released Financial Sector Deepening (FSD) survey, which has the backing of the Central Bank of Kenya (CBK), has revealed that Small and Medium Enterprises (SMEs) are the worst-hit by debt crisis. The survey revealed that one in every six small scale business borrowers has defaulted on a loan in the past eleven months….

Sector experts urged to help SMEs access global markets

Sacco ReviewSeptember 4, 2023September 4, 202304 mins

Experts in the cooperative movement have been challenged to assist small rural-based enterprises access local and international markets for their products. Women groups in Mbeere South involved in making eco-friendly kiondos from degradable sisal fibre said the fact that they cared for the environment qualified them for assistance. The Kiritiri Kwimenya Self-Help Group, whose products…

Varsity trains 100 South African SMEs on innovation, technology

Sacco ReviewAugust 25, 2023August 25, 202303 mins

Wholesale and Retail Sector Education and Training Authority (WRSETA) in partnership with Zetech University are training over 100 SMEs from South Africa on networking, marketing, customer care, and food safety regulations among other business-oriented skills. South Africa’s High Commissioner to Kenya Mninwa Johannes Mahlangu said the skills will empower the SMEs to grow their country’s…

Chelugui: How second phase of Hustler Fund works

Sacco ReviewAugust 17, 2023August 17, 202303 mins

Co-operatives and Micro, Small and Medium Enterprises Cabinet Secretary Simon Chelugui has explained how groups and chamas can apply for the second phase of the Hustler Fund loan. The Group Micro Enterprise Loan products allow members to apply for loans ranging between Ksh20, 000 to Ksh1 million based on the average credit score of each…