SASRA - Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya

GDC Sacco seeks to grow its asset base to KSh8.5 billion

Sacco Review3 weeks ago08 mins

GDC Sacco Society Ltd (GDC) has embarked on an ambitious plan to grow its asset base to KSh8.5 billion as it seeks to be among the top 50 Saccos in the country. The Sacco which currently has over 34,000 members, who are mainly dairy farmers in the agriculture-rich Githunguri Sub-county in Kiambu County, is keen…

Smiles for savers as Saccos pay high dividends

Sacco Review2 months ago03 mins

Top Saccos in the country are paying members at least four per cent more in dividends for their 2023 savings compared to a year earlier. Most cooperatives attributed the performance to muscular growth in its net interest income, enhanced member deposits and increased membership. Safaricom Investment Corporative (SIC) members will take home KSh142.4 million in…

Non-deposit-taking Saccos to start paying regulatory levy

Sacco Review2 months ago2 months ago06 mins

The non-withdrawable depositing taking (NWDT) Savings and Credit Co-operatives (Saccos) shall now be required to pay annual regulatory fee to the country’s Sacco Regulator, the Sacco Society Regulatory Authority (SASRA) as they fully come under its purview. According to the November Legal Notice by Sasra the rate of the annual Sacco Societies Levy will be…

SASRA increases approved auditors to accommodate additional Saccos

Sacco Review2 months ago2 months ago05 mins

The Sacco Societies Regulatory Authority (SASRA) has increased the number of audit firms approved for auditing Saccos under its supervision to 365 to accommodate the additional cooperatives. The latest figure for the 2024 auditing of Saccos means an additional 92 audit firms have now been cleared to check the books of Saccos, up from 273…

SASRA warns public against trading with unauthorized Saccos

Sacco Review2 months ago2 months ago08 mins

Sacco Society Regulatory Authority (Sasra) has warned the public against undertaking any related Savings and Credit Co-operative (Sacco) business with those entities that are not registered and regulated by the Authority. In a recent Public Caution issued by Chief Executive Officer (CEO) Peter Njuguna, the Authority has observed that a large section of members of…

Hazina Sacco opposes introduction of levy on non-withdrawable Sacco deposits

Sacco Review3 months ago3 months ago04 mins

Hazina Sacco Chairman Evans Kibagendi has opposed the introduction of a levy on cash deposits held by Non-Withdrawable Deposit-Taking Saccos by the Sacco Societies Regulatory Authority (SASRA) beginning January 2024. Kibagendi will greatly affect the revenue of Saccos as a whole, and the savings of individual members who are ideally the owners of the Saccos….

Number of Sacco female employees on the rise, SASRA says

Sacco Review4 months ago4 months ago05 mins

The number of female employees in regulated Saccos in the country has been steadily rising, surpassing that of male employees, SASRA’s Sacco Supervision Report 2022 has revealed. According to the Report, female employees in regulated Saccos account for 50.61% of the total employees with males accounting for 49.39%. It also reveals that within the DT-SACCOs…

Ghanaian officials in Kenya to benchmark cooperative movement

Sacco Review4 months ago4 months ago03 mins

Senior officials from the Government of Ghana, including representatives from the Ghana Co-operative Credit Unions Association (CUA), Ministry of Finance, and the Department of Cooperatives, are currently in Kenya to benchmark the country’s cooperative movement which is considered the largest in Africa. According to the 2022 Statistical Report by the World Council of Credit Unions,…

Homa Bay Women Caucus Sacco receives Ksh30M boost from Pepea Capital

Sacco Review5 months ago5 months ago02 mins

Homa Bay Women Caucus Sacco has received a boost of Ksh30 million from Pepea Capital. The Sacco’s chairlady Jane Akinyi said the money will be directly deposited into the Sacco’s account and will support members in the production of soya beans, sorghum and sunflower flowers. She noted that the month old Sacco is engaged in…

Chelugui lauds Saccos for exhibiting tremendous growth in past year

Sacco Review5 months ago5 months ago02 mins

Simon Chelugui, the Cooperatives and MSMEs Development Cabinet Secretary (CS), has released a report which indicates a steady growth in the Sacco industry for the past one year. Chelugui said that all the 360 Saccos regulated by the Sacco Societies Regulatory Authority (SASRA) have seen tremendous growth in assets, deposits, loans, and capital from November…