Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


MyNews24 is a user-generated section of News24 Kenya. The stories here come from users.

Latest Badges:

Sukari Sacco still struggling

03 May 2013, 17:26 Jane Pamba

Sukari Sacco which is one of the leading Savings and Credit Corporative Societies in Western Kenya continues to struggle following competition from rival financial institutions.
Speaking during the Annual General Meeting of at Booker Academy in Mumias, the Society’s executive director Hudson Alubisia said en-mass migration of members had seen their fortunes dwindle significantly.
The Society had a pact with the World Council of Corporative Unions a partnership that saw Sukari receive KES 10 million from the Union to fund education of needy children in the society but a only Sh4million had been spent when the contract lapsed.
Alubisia argued that inflation had partly to blame for the problems many Sacco societies continue to face.  

“Saccos must seek the nod of the members to review interest rates charged at any one time no matter what happens when inflation hits the societies.”
Instead of hiking interest rates for members, the Saccos opt to transfer a Lion’s share of the profit made to cover up for the losses caused by inflation and other factors according to Mr Alubisia hence reducing bonus awarded to the members.
He said the Society had embraced diversification and introduced several facilities to clients and also started reaching out for sugarcane growers and people working in private sector to enroll as members.
“The Corporatives Societies Act 2008 stipulates that sugarcane growers have to become members of the society instead of just earning money from a sugar miller through the Sacco in order to benefit a lot from other services we provide,” explained Mr Alubisia.
During the AGM some members argued that the Sacco seen a drop of close to 2,000 in membership that currently stands at about 30, 000.   “Something has to be done urgently to address the issue,” demanded the members.
The Sacco chairman regretted that some members were being deducted money for loans they never received.  “It should not be so and we shall take this issue seriously." He said.

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Submitted by
Victor Tinto
EACC officers raid Deputy Governo...

EACC officers raided the home of a Deputy Governor as theft case continues in court. Read more...

Submitted by
Wilson Ochieng
New IEBC bosses to be named Novem...

New IEBC bosses will be named on November 30. Read more...

Submitted by
William Korir
DP Ruto has spoilt my name, activ...

DP William Ruto has spoilt my name, activist complains. Read more...

Submitted by
Wilson Ochieng
Apologise for attack on Auditor G...

Apologise for attack on Auditor General, President Uhuru Kenyatta is told by Kisumu Senator Anyang Nyong'o. Read more...

Submitted by
Wilson Ochieng
Quit if you can't fight corruptio...

An MP has told President Uhuru Kenyatta to quit office if he cannot fight corruption. Read more...

Submitted by
Wilson Ochieng
Investigate Uhuru, Ruto for corru...

Investigate President Uhuru Kenyatta and DP William Ruto's offices over corruption, CORD leader Raila Odinga has said. Read more...