Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Tea farmers have a reason to smile after earnings from this week’s Mombasa auction rose slightly. According to data from Tea Brokers East Africa Ltd, tea factories earned Ksh 904.1 million, up from Ksh 902 million last week, following the sale of 3.72 million kilos of tea. The sale, held in Mombasa, saw increased demand and participation…
The cooperative finance sector in Kenya is under growing scrutiny as fresh revelations expose extensive financial mismanagement and fraud across savings and credit cooperatives (SACCOs), with annual losses exceeding Ksh3 billion. According to the Sacco Societies Regulatory Authority (SASRA), these massive losses are attributed to poor governance, unremitted member contributions, liquidity challenges and a widespread…
The government has accelerated coffee reforms, focusing on diverting payment points to the Direct Settlement System (DSS), which has met strong resistance. President William Ruto, during his Mt. Kenya Development tour two months ago, stirred controversy when he announced that from June, coffee proceeds would be remitted directly to farmers, bypassing cooperative society management committees….
The battle between Kirinyaga county coffee farmers and the Nairobi Coffee Exchange (NCE) is now in the corridors of justice, as the high court extended conservatory orders barring the implementation of the Direct Settlement System (DSS) and new reforms in the coffee sector until July 28, 2025. The Cooperative Bank that operates the DSS also…
Within Kenya’s healthcare system lies a growing threat: medical debt. Many households, particularly those in low-income brackets, struggle to pay their medical bills, often forced to choose between their health and financial stability. This presents a critical opportunity for cooperative societies to step in by running health facilities or offering medical insurance cover or credit…
The Sacco Societies Regulatory Authority (SASRA) has expressed concern that, despite the immense value of credit scoring, SACCOs have been slow to fully adopt credit referencing, resulting in gaps in credit decision-making. The regulator also highlights challenges in implementing effective credit-scoring systems, which have hindered responsible lending and undermined long-term financial stability. However, some senior…
The Agriculture and Food Authority (AFA) has launched a cotton seed milling equipment at Luanda cotton ginnery in Samia Sub County in Busia. Speaking during the launch Director General of AFA Dr Bruno Linyiru said the milling equipment will help in value addition as a way of boosting cotton farming and profit to the farmers…
As Kenya gears up for this year’s Ushirika Day celebrations, the Cooperative Alliance of Kenya (CAK) has urged county governments to scale up budgetary allocations toward the cooperative sector, emphasizing its pivotal role in driving financial inclusion, rural prosperity, and food security. Speaking at a media briefing ahead of the event, CAK CEO Daniel Marube…
The air in Kenya’s automotive sector crackles with contention as the Kenya Revenue Authority (KRA) staunchly defends its freshly unveiled price list for used motor vehicles, a list set to dictate the taxes on second-hand models entering the country from July 1, 2025. This move has ignited a fierce debate, particularly with the Car Importers…
Savings and Credit Cooperative Societies(SACCOs) have in recent months stepped up their digital marketing campaigns, running attractive TV advertisements, updating their websites to make them more interactive and going big on X, Facebook and other social media platforms. SACCOs are also investing huge sums of cash to spruce up their online presence. This is being…
