Outlook for Co-op industry in 2020
By Jackson Okoth Economists are already projecting tougher times for Kenya’s economy this year. But even with grim prospects and gloomy statistics, the resilient Co-operative industry is putting on a brave face. Latest figures from Sacco Societies Regulatory Authority (SASRA) databases indicate that Kenya’s Sacco Sub-sector holds total assets worth more than Sh 442.3 billion…
Ushirika Day: Best Saccos in Picked
High achievers in the Sacco business named By Jackson Okoth Kenya Police Sacco was voted the Best Managed Saving and Credit Co-operative Society countrywide during a prize-giving ceremony to mark the 97th of International Day of Co-operatives, held at Safari Park Hotel in Nairobi.
A member of the Mbeere Muguka Sacco displays the various varieties of the crop during a recent education show where the youth were advised about the effects of each species.
Muguka farmers in Embu told to join Saccos to boost income
Muguka farmers in Embu County have been challenged to join existing Saccos to reap better incomes and enhance expanded marketing of the produce locally and regionally. Consolidation of the millions of shillings earned from Muguka sector daily under cooperatives would ensure that incomes from the business are not wasted but used to improve farming and…
MCA Joyce Yiapaso Sunte who sponsored Kajiado County Corporate Social Responsibility Bill, 2024. Photo:Obegi Malack
Kajiado companies reject bill allocating 1 per cent of their profits to CSR initiatives
A section of investors operating in Kajiado County have raised concern over the County Corporate Social Responsibility Bill, 2024 which is now in public participation stage. The bill wants companies to allocate 1 per cent of their profit to CSR in every financial year. It also details that every company shall reserve to residents of…
SASRAChief Executive Peter Njuguna when he appeared before National Assembly Public Investments Committee on Commercial Affairs.
Public Investments Committee seeks answers on SASRA audit queries
The National Assembly Public Investments Committee on Commercial Affairs and Energy met last week to examine the audited accounts of the Sacco Societies Regulatory Authority (SASRA) for Financial Years 2013/2014 to 2020/2021. The Committee led by Member of Parliament for Navakholo Constituency and Majority Party Whip at the Kenya National Assembly Emmanuel Wangwe cross-examined SASRA…
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Over 13 million Kenyans affected as Opera stops free data offers on regulatory changes
Opera has stopped its free data plan which allowed Kenyans to enjoy free data bundles to access the Opera, which runs the Opera Mini Browser, as a result of local authorities’ decision, including the Betting Control and Licensing Board, to halt advertising on Speed Dials (bookmarks on the start page) within browsers. According to Google,…
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Government plans to merge CMA, IRA and SASRA
The Government intends to merge three major financial regulatory bodies in the country to enhance service delivery, avoiding duplication of roles and reduce bureaucracy. According to reports, Prime Cabinet Secretary Musalia Mudavadi said recently that the three regulatory bodies are Saccos Societies Regulatory Authority (SASRA), Capital Markets Authority (CMA), and the Insurance Regulatory Authority (IRA)….
PS for State Department for Internal Security and National Administration, Dr Raymond Omollo.
Government, FAO join forces to ensure foster food security, PS Raymond says
The Kenya Government has entered into a partnership with Food and Agriculture Organization (FAO) in a move aimed at boosting food security in the country. The Principal Secretary (PS), State Department for Internal Security and National Administration, Dr Raymond Omollo said food and nutrition security is a subject that lies at the very heart of…
Acumen Sacco members during their AGM.
How Saccos can increase their membership size
There are various Saccos in the country and best strategies are needed to make a Sacco increase its membership size. Below are some of the marketing strategies. 1). Have a good website Since the internet is everywhere, website is very vital new and prospective members have access easily. Good website will boost membership. 2). Offer…
Diamond Trust Bank officials during the unveiling of new seven branches.
Diamond Trust Bank unveils seven new branches
DTB Bank has opened new seven branches across the country. These include Gikomba, Eastleigh (BBS Mall), Karen Hardy, Ongata Rongai, Kapsabet, Kenol in Murang’a and Bondeni in Mombasa. The DTB Group Chief Executive Nasim Devji said the unveiling of these new branches is a testament to unwavering commitment of the lender to bring services closer…
Bamburi plant
Bamburi Cement posts net loss of KSh399 million, raises shareholder payouts
Bamburi Cement Plc recorded a net loss of KSh399 million for the year ended December 31, 2023 compared to a net loss of KSh181 million it posted in 2022. However it raised its dividend payout to shareholders 7.3 times translating to KSh1.99 billion as a result of increased financial muscle. Bamburi CEO Mohit Kapoor said…
Co-operative University of Kenya Deputy Vice Chancellor Prof. Esther Gicheru. She is the Board Chair of Kenya Society of Professional Co-operators. Symon Mburia.
Co-op professional body releases this year’s training plan for sector players
The Kenya Society of Professional Co-operators (KSPC) has officially released its training plan for this year targeting key players in the sector. The training, spread out throughout the year started February, will basically target Chief Executive Officers (CEOs) and their deputies (D/CEOs), Heads of Departments (HoDs), Boards and Supervisory Committees, and staff working in the…
