Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
DT-Saccos have continued to show great depth of resilience and stability. Last year, the financial institutions recorded a double-digit growth rate according to latest Regulator’s data. The Saccos’ total assets increased by 12.41 per cent to cross the half-trillion mark and reach Sh 556.71 billion, while the total deposits increased by 11.27 per cent to…
By Sammy Chivanga The number of dormant members in the Savings and Credit Cooperative Organisations (Saccos) has risen by 40.1 per cent to 676,052 on increased job cuts and delayed salaries from struggling entities. The dormant membership rose at the highest pace in the year 2018 from 482, 526 the previous year. This was in…
By Our Reporter The regulator has directed all non-deposit taking Saccos to maintain their external auditors for another year after Covid-19 scuttled annual general meetings (AGMs) where a change of auditors is usually ratified. The Acting Commissioner for Cooperatives Geoffrey Njang’ombe has in a circular to all cooperative societies said only those hard-pressed to change…
By Sammy Chivanga The regulator is now calling for the merger of various small Savings and Credit Cooperative Societies (Saccos) to bring stability and efficiency in the vibrant sector that holds over Sh380 billion in deposits. Sacco Societies Regulatory Authority (Sasra) says that large Saccos are deepening the control of deposits – a key source…
