Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
The recent media reports highlighting how one Sacco had lost billions of shillings through its leaders should serve as a wakeup call to all industry players. This may as well be a tip of the iceberg as cases of discontent abound in a number of Saccos across the country. But exactly what could be the…
Siaya-based Taraji Sacco is set to open a satellite office in Homa Bay County to spur growth in line with its new 2023-2027 strategic plan. Speaking during the Sacco’s 44th Annual General Meeting (AGM), Sacco chairman Charles Ochieng’ Ngutu revealed that a survey conducted recently established that there was an opportunity for business there. “After carrying…
As a financial year comes to an end, cooperatives need to review the year’s performance through the annual general meetings. Cooperatives are democratic organizations that are controlled by members, who actively participate in setting policies and making decisions. Members are the source of all authority and the basic unit of democratic control. Members need to…
Kewisco Sacco is in the process of building its own office block in Nairobi to reduce operational costs. Speaking during the 32nd Annual Delegates Meeting (ADM) held at the Nairobi National Park Club House, the chairperson Rebecca Kipchumba said the land had already been acquired and the Sacco was waiting for the processing of the…
The government plans to revive agricultural extension services through the Agricultural and Livestock Extension Services Bill, 2022, which when passed into law, will establish the Agricultural and Livestock Extension Service (ALES). The corporate body will be mandated to enhance the competitiveness of the agriculture and food industries and increase their long-term productivity. It doing this,…
The main reason for the establishment of a Sacco is to bring together members of the community with a common need. The Saccos are based on the cooperative values of self-help, responsibility, democracy, equality, equity and solidarity. These values are easy to maintain since the Saccos are formed by people who know each other very…
Rural Saccos play a critical role in providing financial solutions to rural communities as they offer savings and loan facilities to members, who are often smallholder farmers. However, many rural Saccos face challenges that hinder their effectiveness in delivering financial services. One of the biggest challenges facing rural Saccos is poor governance and management. In…
Harambee Sacco is employing every strategy to ensure that they hit their 2025 target of 86,502 members, Sacco chairman Macloud Malonza has said. Speaking during the 52nd Annual Delegates Meeting (ADM) held at Safari Park Hotel, the chairman said the membership currently stands at 74,274 having recruited 6,276 new members in 2022. To help sustain…
Nafasi DT Sacco recently rebranded from Nafaka Sacco so as to open up the market through new products which target various sectors of the economy. Speaking during the rebranding and opening of the Sacco’s first branch at Shujaa Mall in Kayole, Sacco chairman Koech Mwerey said the new branch is a great milestone for the…
Gusii Youth Bunge Sacco recently held a colourful Annual Delegates Meeting (ADM) to celebrate its tremendous growth and performance last year. Speaking during the event held at Agricultural Training Centre (ATC) in Kisii town, Sacco chairman Asha Moranya noted that the Sacco’s share capital increased by Ksh1,184,729 from Ksh7,026,031 in 2021 to Ksh8,210,760 as at…
