Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Robert Nyagah Members of various university-based Saccos are cash strapped and unable to borrow from their Saccos as their employer failed to remit their deductions that have accumulated to a whopping Ksh4.2 billion. The managements of several of the Saccos have been struggling to give their members loans, given that they have no cash…
By Peter Otuoro Cooperatives Cabinet Secretary (CS) Simon Chelugui has said that over Ksh2 billion has not been remitted by various state and private organizations to Saccos on behalf of their employees. Chelugui said the government will put strict measures to ensure all deductions on members’ salaries are remitted without delay, be they from public or…
The first Loan Product under the Fund (Personal Loan) will be rolled-out by the end of November 2022. The draft regulations of the Fund has pointed out that Saccos can also apply for loans from the Fund as financial intermediaries for on-lending to a business person or micro, small and medium enterprises. By Hezron Roy …
By Kage Njoroge Cooperative societies have been touted as the key pillars of economic development as they have the ability to mobilize citizens to pool financial resources to achieve set objectives. Alex Irungu, the retired long serving CEO of Mentor Sacco, argued that Saccos are crucial drivers of social and economic progress with multiple benefits…
By Azael Masese Nairobi County Director of Cooperatives Dolphine Aremo has urged area residents to join cooperative societies, identifying them as valuable investment tools to enabling them achieve their financial goals. Speaking to Sacco Review at her Nyayo House office, Aremo said Nairobi is home to some of the best performing and profitable Saccos with…
By Fredrick Odiero Migori County’s Department of Cooperatives has now embarked on a major sensitization and capacity building programme for sector members and officials in order to strengthen the sector. According to area Director of Cooperatives Justus Nyangwecha, the move is aimed at revitalizing dormant cooperatives and further strengthening active ones. Nyangwecha told Sacco Review…
By Boniface Mulu The chairman of Kitui Urban Jua Kali Artisans Association Reuben Daudi Kioko was returned to office together with his management committee officials unopposed during the association members elections held on November 17, 2022. The Kitui County Enterprise Development Officer (CEDO), Mrs. Josephine Mukiira was the returning officer for the elections. Boniface Musembi…
By Azael Masese Management of Kenya’s cooperatives is set to get better with the establishment of the African Confederation of Cooperative and Credit Associations (ACCOSCA) Academy in Nairobi. The academy, the first of its kind in Africa, will offer hybrid training programmes with the aim of enhancing professionalism and competencies to run effective cooperatives in…
By Munene Kamau Fortune Sacco FC from Kirinyaga County which got an automatic promotion to the National Supper League a few months ago will now start using the Wanguru International stadium for practice and national engagements . This fortunate development has come about after a weekend presidential directive that this team which has done proud to the county be…
By Robert Nyagah Experts and other stakeholders in the cooperative movement have been challenged to offer professional guidance on prudent financial management to start-up groups to ensure such units mature to Saccos and Cooperatives. Former Commissioner of Cooperatives Mr. Geoffrey Njang’ombe argued that when well equipped with skills and funds management skills, the groups have…
