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Loans push up Kuscco earnings by 23 per cent

Kenya Union of Savings and Credit Co-operatives (Kuscco) managing director, George Ototo. Photo/FILE

A Saccos umbrella firm has reported a 23 per cent rise in profits, driven by an increase in loans uptake.

Earnings of the Kenya Union of Savings and Credit Co-operatives (Kuscco) reached Sh94 million in 2012 on the back of increased borrowing by local co-operative societies, which went up 49 per cent.