opinion

How Saccos can maximize return on ATM and mobile banking channels

Website-Logo-sacco-review-1

By Mary Wanjiru Ndung’u Saccos have experienced tremendous growth in channel use over the recent past. A channel is defined as the means through which members can access Sacco products. One key indicator on the importance of mobile and ATM channel uptake by saccos is the fact that Sacco Societies Regulatory Authority (SASRA) in all their recent supervision reports dedicated ...

Read More »

Rethink on opening of common bond timely

Website-Logo-sacco-review-1

The Government has communicated of its intention to go slow on approving plans by saccos that seek to open the common bond. Common bond is where a sacco recruits members outside its jurisdiction. For instance, common bond occurs when a sacco affiliated to teachers opens its doors to members outside teaching profession. Recruiting members from outside their catchment area, especially ...

Read More »

Membership referral strategies can boost Sacco recruitment

By Mary Wanjiru Ndung’u Savings and Credit Co-operative Society’s (Saccos) membership recruitment is an ongoing process that requires planning and a well thought out strategy. The reasons as to why Saccos need to constantly recruit is so as to grow their membership base, maintain their relevance and strengthen their financial muscle. Recruiting is the lifeblood of membership organizations. Many studies ...

Read More »

Why Saccos are critical for the unbanked population

By David Kipkorir. As the country celebrates 95th International Co-operative Day, (locally known as Ushirika Day) on July 1, 2017, Savings and Credit Co-operative Societies (Saccos) continue to play an important role in uplifting lives by providing financial services to many disadvantaged Kenyans as espoused in Vision 2030. Vision 2030 blue print recognizes Sacco societies as important players in deepening ...

Read More »

Coop Commissioner: Target youth market or perish

sac2

Gichuki also asked Saccos to incorporate youth and women in their leadership structures as a way of boosting membership from these two groups. Speaking during an Exclusive interview with the Sacco Review, Gichuki further called on County governments to maximize their support to cooperatives in their respective counties. “We know most Saccos have rebranded but by the law, they remain ...

Read More »

41,000 people join Saccos in Kajiado County

kajiado

By Isaac Lenkou The Kajiado County Government has disclosed that over 41,000 people have joined Co-operatives in the last three years. The Societies transaction total business worth Sh 470 million. “I commend efforts undertaken by Co-operatives to improve the livelihood of people in Kajiado County,” said Paul Ntiati, Deputy Governor, Kajiado County during the 94th Ushirika Day celebrations. According to ...

Read More »

Boresha Sacco targets Sh500 million in shares drive

boresha-sacco

By Jackson Okoth Boresha Sacco Society Limited with its headquarters in Eldama Ravine has begun selling shares to its members. The Society aims to raise a minimum of Sh500 million but has set a maximum target of Sh1 billion, depending on the response of its members. The exercise is aimed at raising share capital, develop more long term lending products, ...

Read More »

Kirinyaga Butchers feted for being Highest Savings rural Sacco

kirinyaga

By Ken Ondieki Going by Kirinyaga Butchers Sacco Chairman, Christopher Muthigani, butchers are the most trusted people in the world. He is a firm believer in this and firmly believes that the only way for his Sacco is up. Thus, the Sacco’s prospects will soon hit the skies. The Sacco scooped the Rural Sacco with highest savings per member award ...

Read More »

NewFortis Sacco comes tops at Ushirika

news-fortis

By Joseph Mukubwa New Fortis Sacco, formerly known as Nyeri Teachers Savings and Credit Co-operative Society, emerged the Best Managed Co-operative Nationally at the Ushirika Day gala night, a ceremony that was recently held at Safari Park Hotel in Nairobi. It also won the award for Best Managed Teachers Sacco and trophy for Best Banking Services in the Teachers Sacco ...

Read More »