Articles Posted in the " Microfinance Profiles " Category

  • Redefining Chama’s role in economic reforms

    Individuals at any level of income can create wealth by saving and investing together as a group. There is a special dynamic within the structure – a combination of peer pressure, strength, confidence, and shared responsibility as an aggregator of capital and creator of wealth. Looking back at independence, Kenya was seen to be at […]

  • Ex-taxman Michael Waweru quits TransCentury board

    Former taxman Michael Waweru has quit the board of troubled infrastructure firm TransCentury barely six months into his tenure, in a shakeup that will also see two other long-serving directors exit the company. Mr Waweru — who served as commissioner- general at the Kenya Revenue Authority for nearly a decade — joined TransCentury on December 1, […]

  • Stima, Unaitas top Saccos as sector grows

    Sacco’s grew their assets by 14.2 per cent last year with Stima and Unaitas the star performers driven by enrolment of new members. Latest data from Sacco Societies Regulatory Authority (SaSRA) shows assets of the co-operatives stood at Sh335 billion in December compared to Sh293 billion a year earlier. The growth was driven by increase […]

  • Kenyan Saccos on the verge of joining national payment system

    Savings and credit co-operative societies in Kenya are set for integration into the mainstream of financial service providers, a development that could see commercial banks lose third-party businesses. An umbrella body of financial sector regulators has given the go-ahead for Saccos to lend money to each other through a Central Liquidity Facility (CLF). This is the first […]

  • KCB falls behind Equity in first quarter profit

    KCB Group, Kenya’s largest lender by assets, reported earlier this month profit after taxation for three months through March rose by a marginal 6.19 per cent to Sh4.63 billion, boosted by increased interest earnings. The bank’s profit, however, fell behind its main competitor Equity Bank whose net profit rose19.30 per cent to Sh5.13 billion, also […]