Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Jackson Okoth. It is a race against time for Sacco loan defaulters as the noose tightens on their necks. This follows recent disclosures by the Principal Secretary, Ministry of Industry, Trade and Co-operatives Ali Noor Ismail that the Ministry is working on a plan together with the Central Bank of Kenya (CBK) and the…
By Dennis Bett. Matatu Saccos in Nandi County have pledged to pay taxes so as to enable the Government improve service delivery to the residents. Matatu operators who fall under six Saccos operating in Kapsabet main bus station and other bus stations across the county had rejected a mandatory payment of taxes since December 2016…
By James Wakahiu. The Chairman of Central Rift Boda boda Association, Stanley Kitetu has urged operators in the country to join the co-operative movement and improve their living standards. Kitetu who leads over 20, 000 members said the co-operative movement had transformed the lives of many Kenyans and boda boda operators should not be left…
By James Wakahiu. Urithi Housing Co-operative Society has acquired 200 acres of land in Machakos County. The land in Tala will be sold to members at introductory price of Sh175, 000 for a 1/8, Sh330, 000 for a ¼, Sh640, 000 for ½ and Sh1.2m for an acre. Urithi Sales Manager, Gabriel Ng’ang’a he said…
By Azael Masese. Mobile and agency banking platforms are key areas where Savings and Credit Societies (Saccos) will invest in stand alone Automated Teller Machines (ATMs) emerging as least among their priorities. The sub sector is increasingly embracing new technologies to rope in the unbanked population and drive upwards their much desired growth. Yetu Sacco,…
By Jackson Okoth. A baseline assessment involving several Deposit-Taking Saccos, conducted by Kingslink International Kenya Limited has revealed the need for these Societies to move to a more secure IT platform. This is to enable them deal with an emerging trend where Saccos continue to lose members’ cash through the activities of online criminals. Kingslink…
By Godfrey Wamalwa. The Bungoma County Government has said that it has registered over 200 Cooperatives since 2013. The Bungoma County Chief Officer in Charge of Cooperatives Societies, Sella Mutsotso disclosed this in an interview with the Sacco Review recently. She expressed hope that Cooperatives would provide employment opportunities to youths in the County. “We…
By Erick Nyayiera. Juakali artisans and small scale traders in Siaya County have been urged to join Savings and Credit Co-operative Societies (Saccos) to get easy access to cheap loans. Siaya County Director of Co-operatives, Vitalis Okech has said small scale traders can easily access loans through Saccos compared to commercial banks. He lamented that…
By Staff Reporter. A planned increase in Sacco levy for Deposit-Taking Saccos that run FOSAs has been withdrawn.Sacco Societies Regulatory Authority (SASRA) withdrew plans to increase the Sacco levy from the current 0.1 per cent to 0.125 per cent and progressively to 0.175 per cent at the end of three years. But it was withdrawn…
