Year: 2020

By Sammy Chivanga When Covid-19 struck, it was expected that many Savings and Credit Cooperative Societies (Saccos) would face their biggest liquidity test. And as an increased number of Sacco members applied for consumption loans, Sacco leaders such as the Kenya Union of Savings and Credit Co-operatives Ltd (Kuscco) called for caution. But in a…

Press Release 19th October 2020 The Co-operative Bank has been named Best Bank in Kenya at this year’s African Banking Awards 2020 organised by EMEA Finance. This is the third time around, having won again in 2018 and 2019. The EMEA Finance Awards recognise financial institutions which, through their client focus and sound leadership, continue…

By Roy Hezron Public universities and other tertiary institutions have been accused of failing to remit members’ deductions to Saccos. The Sacco Societies Regulatory Authority (Sasra), in its annual report, says that the highest proportion of total non-remitted deductions are owed by public universities and colleges. With five deposit-taking Sacco societies whose membership are directly…

By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are increasingly turning their focus on motorcycle riders and women groups for new membership and uptake of products. Motorcycle riders, popularly known as boda bodas, are in particular seen as the fastest growing income group and many Saccos are coming up with targeted products for them….

By Martin Ruto Martin Kororia is not only a passionate teacher, but he also loves farming. He is currently doing well in onion farming, which he is now considering expanding.  He attributes his success to Trans National Times Sacco. It all started with a loan he got from the Sacco that he used to buy…

Only 10.5 per cent of the DT-Saccos’172 CEOs are below 35 years latest Sasra data shows By Sammy Chivanga Young people are conspicuously missing from essential Savings and Credit Cooperative Societies (SACCOs) positions despite making up nearly a third of the membership, raising questions about the succession structures in the vibrant sub-sector. An analysis by…