Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Renson Ireri With the continuous growth of Deposit-Taking Saccos in Kenya, and the positive reception given to the Sacco societies concept by Kenyans of different status, regions, age and professions, the future of the co-operative movement is very bright and needs to be well nurtured. Whereas the banking industry continues to face a myriad…
By Benedict Ngetich Most of the local savings and credit societies are cautiously piloting the new trends of mobile technology which come with a myriad of challenges. From the big societies to those still struggling with recruitment of members, the trend is to venture into mobile banking, this despite the menace of Cyber Crime rearing…
By John Majau Trans-Nation, one of the fastest growing Saccos has kicked off elaborate plans to start agency banking in a move meant to capture a greater market share within Tharaka Nithi, Meru, Kitui and Isiolo counties. Trans-Nation Sacco Chief Executive Officer, Ransam Mugambi Nthiga said plans to turn the organisation into a banking agency…
By Munene Maina The technological advancements sweeping the financial sector and the high cost of opening and running branches have forced Savings and Credit societies to re-strategize to beat the competition and grow their businesses. Most Saccos are now rolling out agency banking or opening satellite branches to extend their reach and reduce operation cost…
By Our Reporter Amica Sacco in Murang’a County plans to expand their mobile banking platform Amicash by increasing the number of registered members, setting a target of 70,000 from the already registered 14,000. Chief Executive Officer James Mbui said the move has been initiated to raise the Sacco members’ deposits and increase profits in the…
By Ndichu Kamau Githunguri Dairy and Community (GDC) Sacco has rolled out agency banking to become the first sacco to launch this service in Kiambu County. Also, in an effort to bring services closer to its 23, 318 members, GDC, after authorisation by Insurance Regulatory Authority (IRA), will now offer insurance agency services. These achievements…
By Munene Maina Viktas Sacco is seeking to upgrade its current Management Information System (MIS) to a robust and scalable system that has both the Sacco banking system and ERP integrated. In a newspaper advertisements, the Sacco has requested for proposals for the supply, installation and commissioning of an integrated Sacco banking and ERP system….
By Bonface Mulu Kitui Teachers Sacco plans to reduce cases of loan defaults and has partnered with Trans Union to share credit information with other financial institutions. The Sacco Chairman, Dr. Joseph Kithome , said the move would stabilize the Sacco as cases of loan defaults would be minimized and members with bad credit history…
By Our Reporter Felix Ochieng has a well cut-out vision on Siraji Sacco’s growth plan. When you meet him, the Chief Executive Officer is crisp, precise and articulate on the strategic development plan for the Sacco he has headed for the last nine years. Clad in black suit, a striped shirt and a matching tie,…
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…
