CS Chelugui Inaugurates New SASRA Board
The Sacco Societies Regulatory Authority's (SASRA) new Board of Directors has been inaugurated by the Cabinet Secretary for Co-operatives and MSME Development Simon Chelugui. The SASRA Board of Directors comprises [...]
Tabasamu DT Sacco Turnover Rises by 19% to KSh 207.3 Million
Tabasamu DT Sacco (Deposit-Taking), based in Kwale, saw its turnover increase to KSh 207.3 Million in 2023 from KSh 173.6 Million in 2022, a rise of 19%. “With introduction of [...]Safaricom Investment Co-operative Society Approves KSh 142.4M Rebate Payout
Safaricom Investment Co-operative shareholders have approved a KSh 142.4 million rebate payout during the 15th Annual General Meeting. The total revenue from land and housing for the society over the [...]Nyati DT Sacco Balance Sheet Grows 7.99% to KSh 4.94 Billion
Nyati Deposit-Taking Sacco, the highest dividend payer in the Sacco sub-sector, saw its assets grow 7.99% to KSh 4.94 billion at the end of the 2023 financial year from KSh [...]KUSCCO Pushes for Policy Reforms in the Co-op Sector
Kenya Union of Savings and Credit Co-operative Societies (KUSCCO), the giant lobby for the Cooperatives Sector in Kenya, is pushing for several policy reforms to ensure growth and stability in [...]Harambee Sacco Targets KSh 4Bn in Share Sale
Harambee Deposit-Taking Sacco aims to raise KSh 4.0 billion over the next 2 years through a share capital drive in a bid to wean itself from external financing. This strategic [...]SACCOs' Huge Returns Despite Harsh Economic Conditions
Savings and Credit Co-operative Societies (SACCOs) engaged in the deposit-taking have continued to pay huge dividends and rebates to members as shown by the number of societies that have already [...]SASRA Ignored CBK's Recommendation to Regulate SACCOs Union
The Central Bank of Kenya (CBK) asked Sacco regulator, Sacco Societies Regulatory Authority (SASRA), to regulate the giant Kenya Union of Savings and Credit Co-operatives Limited (KUSCCO)'s unregulated deposit-taking business [...]Saccos Rebrand to Grow, Ward Off Competition
SACCOs, especially those that engage in the deposit-taking business, have continued to rebrand to appeal to more members and beat stiff competition for deposits. The long list of DT Saccos [...]KUSCCO Fires MD in Clean-Up, Inter-lending Facility Comes Under Scrutiny
The Kenya Union of Savings and Credit Cooperative Society Ltd (KUSCCO) fired its Group Managing Director, George Ototo, as well as the National Chairman, George Magutu, earlier this week. KUSCCO [...]Sacco Regulator to Charge Levy On Cash Deposits of BOSA Saccos
The Sacco Societies Regulatory Authority (SASRA) has introduced a levy on cash deposits held by Non-Withdrawable Deposit-Taking Saccos, or those that run Back Office Service Activity (BOSA)- beginning January 2024. [...]How Metropolitan National Sacco Lost KSh 12 Billion to Insiders
In a well-organized syndicate that involved some of its former and present senior staff and board directors, the 47-year-old Metropolitan National Sacco lost KSh 12 billion through theft and embezzlement, [...]
