Frontier Selam Sacco Society Ltd

On this special occasion of Eid ul Fitr, The Frontier Selam Sacco Family wishes you and your loved ones Good Health, Prosperity and Allah's Blessings. Eid Mubarak!

Kenyan govt has set up team of officials to investigate managers and directors of the troubled Metropolitan Sacco. The SACCO has Kshs 17 billion in assets and has so far frozen dividend payment for year 2021, with signs of liquidity challenges.

Members have been complaining on a wide range of issues, including lengthy loan approval process, non-functional mobile banking services and withholding of dividends. Metropolitan Sacco has membership of about 75,000 of which majority are teachers.

https://nation.africa/kenya/business/200-saccos-have-a-week-to-comply-with-new-rules-3411420

200 Saccos have a month to comply with new rules Bosas with deposits of Sh100million and above will all now be placed under Sasra.

Saccos demand Sh4.3b unremitted deductions – https://www.standardmedia.co.ke/business/article/2001414266/saccos-demand-sh43b-unremitted-deductions

Saccos demand Sh4.3b unremitted deductions Kuscco said negotiations with individual employers in the last financial year have yielded a paltry Sh380 million.

Kenya’s 14 microfinance banks reported a combined loss after tax of Sh2.1 billion https://bit.ly/3bZRnBu

Microlenders’ loss deepens to Sh2bn in tough economy The micro-lenders have been in a loss-making streak since 2015 due to high defaults and competition from digital lenders.

Saccos receive Sh587.2 million owed by public varsities https://bit.ly/3x17A1t

Saccos receive Sh587.2 million owed by public varsities A cash crunch in most public universities had left them with outstanding remittances.

https://www.the-star.co.ke/news/2021-02-21-senators-approve-law-taming-rogue-saccos/

Senators approve law taming rogue Saccos Bill stipulates roles of national and county governments in Sacco management

FRONTIER SACCO HOLDS ITS THIRD ANNUAL GENERAL MEETING - Burji Online By Burji Online Correspondent Frontier Selam Sacco today held its third AGM at Jowanga Holdings in Huruma. During the meeting, the chairman, Mr. Tego Wolasa, reiterated Sacco’s ultimate goal: to establish an Islamic Bank. As soon as we attain the share capital of kes. 10million, we will start plan...

FRONTIER SELAM SACCO 3rd AGM

Members’ group photo after the society’s fruitful 3rd AGM held on 14/02/2021 at Jowanga Hotel, Nairobi.