Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
As the Country’s hard economy bites most of the Kenyans, Boda boda riders, farmers and traders from Western region have been asked to join Saccos and save for the future. Speaking to Journalists in Busia town, Godfrey Saidi, Chairman of Faridi Sacco stated that many boda boda riders are facing a lot of challenges of…
Cooperatives Commissioner David Obonyo has urged the sector to be guided by the values and principles of the cooperative movement in their operations, with a view to standing out from other business models. Addressing Sacco leaders during a Cooperative Alliance of Kenya (CAK) conference recently, Obonyo noted that the core mandate of CAK is to…
Kisii County Director of Cooperatives Pamella Mercy has asked cooperatives to amend their by-laws to embrace virtual services and comply with the Cooperative Societies Act. Speaking at Kisii Agricultural Training Institute during Gusii Youth Bunge Sacco ADM, the director pointed out that the advent of the Covid-19 pandemic forced some Sacco employees to work from…
By Ben Oroko The group lending model has increasingly become popular among Saccos and Micro-Finance Institutions (MFIs) in recent years. This is largely based on its ability to leverage on joint liability and increased loan repayments while promoting entrepreneurial spirit among borrowers. Group lending methodology is a unique financial service for low income entrepreneurs. To…
By Our Reporter As Public Participation on the contentious Finance Bill, 2023/24 enters homestreach, I am not certain whether the cooperative sector has submitted any Memoranda on behalf of the 15,000-strong membership. To the best of my knowledge, the cooperative sector hasn’t affiliated to KEPSA; yet that is where it rightfully belongs as part of…
The government has been urged to shelve the 2023 finance bill and introduce it later when the economy recovers. Meru Chamber of Commerce Chairman Joshua Kirimi Mungania said the bill will add extra burden to the already suffering Kenyans who are over taxed. He advised President Ruto to concentrate on the recovery of the economy…
By Agnes Orang’o A lot of conflicts witnessed in cooperative societies are contributed by failure to follow the rules of cooperatives, says Benedict Ngumbau Chief Officer of Cooperatives in Machakos county. Ngumbau spoke after visiting Koma Housing cooperative society and commended them for their commitment to ensuring every member benefits. Chief Officer said that many…
By Agnes Orang’o Komarock bus park is yet to be functional four years after Komarock Housing Society handed it over to the Machakos county government. The society chairman Benard Maembe expressed worry that the sh 50m bus park is wearing off when it could solve transport problems facing the area. Maembe told Sacco review that…
On August 27, 2010, Kenya adopted a new Constitution, quickly forming the Transition Authority whose key mandate was to take stock of government assets across the country and oversee their transfer to counties, where applicable. As the country gears up to mark the 10th anniversary of the devolution, there are so many things to take…
The government recently warned Saccos against the culture of declaring ‘impractical dividends’ to members at the expense of financial stability of the institutions. The government’s argument was that if not checked, the trend would lead to the collapse of many Saccos. Since their inception, Saccos have become very popular among Kenyans and provided financial services…
