Sacco Review - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Why SACCOs are reluctant to use Credit Scores in loan appraisals

Sacco ReviewJune 14, 2025013 mins

The Sacco Societies Regulatory Authority (SASRA) has expressed concerns that while credit scoring has immense value, SACCOs have been slow to adopt credit referencing fully, creating gaps in credit decision-making. The regulator also points to challenges in implementing effective credit-scoring systems, which have hampered responsible lending and long-term financial stability. According to the latest SACCO…

Stakeholders call for urgent solutions to devastating hacking cases

Sacco ReviewJune 14, 202504 mins

Following an increase in hacking in the country, attributed to massive tech job layoffs, which have in recent years plagued many enterprises, organizations have been urged to convert the negative energy of hackers into positive energy by creating opportunities for them. As a result of increased cyberattacks and ransomware, many institutions have been grappling with…

Should Saccos trust their auditors?

Sacco ReviewJune 14, 2025June 16, 2025015 mins

A recent revelation that a dead auditor certified the financial statements and accounts of the now financially crippled Kenya Union of Savings and Credit Cooperative Society (KUSCCO) is raising questions on whether or not members of any Society should trust the opinion and audited accounts presented by these esteemed professionals. It also raises the lid…

SASRA urges Sacco to embrace modern technology and strict compliance for sustainable growth

Sacco ReviewJune 13, 2025June 13, 202506 mins

Manager of Market Conduct Supervision at the Sacco Societies Regulatory Authority (SASRA), Anne Kago has said the financial and Sacco sector is constantly evolving, and staying ahead of regulatory trends is key to growth and compliance. Addressing a gathering of Sacco leaders and financial experts, she broke down the latest regulatory shifts shaping the industry,…

Oparanya warns against embezzlement of coffee farmers money

Sacco ReviewJune 13, 202504 mins

Management committees running various coffee cooperative societies in Ukambani region have been cautioned against mismanagement and embezzlement of farmers’ money from the coffee proceeds. Cooperative CS Wycliffe Oparaya said on Thursday that the rampant reports of numerous cooperative societies in the constituency sinking into huge debts from financial institutions were worrying. The CS who addressed…

Sugar Belt Union pushes for more farmers’ representative slots in the decision making committee

Sacco ReviewJune 11, 202506 mins

The Kisumu sugar belt union now wants cane farmers to have more say in making of decisions affecting cane farmers. The members said that the composition of farmers in various committee was too minimal to make any meaningful impact. Union chairman Zedekiah Otene said more farmers should be incorporated in the pricing committee since they…

Meru Governor assents to Cooperative Societies Amendment Bill

Sacco ReviewJune 11, 2025June 13, 202504 mins

Meru Governor Isaac Mutuma has assented to the Cooperative Societies Amendment Bill aimed at strengthening governance of the cooperative movement. The assessment ceremony, held at the county headquarters, was attended by members of the County Assembly, representatives of cooperative societies, and various stakeholders from the finance and agricultural sectors. Governor Mutuma described the moment as…

Cooperators shoots down contentious clauses in Meru cooperative societies Bill 2025,

Sacco ReviewJune 11, 2025June 11, 202504 mins

Cooperators have shot down the contentious clauses proposed through the Tribunal Act 2014 and forwarded to the Meru County assembly sectoral committee on Trade, Tourism, and Cooperatives. The committee chaired by Nyaki West MCA Kirima Mubichi that held a public participation at Kamundi Hall on Thursday wanted to align the Meru County Cooperative Act, 2025,…

Machakos Youth Empowerment Program to enroll 1500 trainees in July – Governor Wavinya reveals

Sacco ReviewJune 10, 202502 mins

The Machakos Youth Empowerment Program (MYEP) will enroll 1500 youths in July following successful completion of training of the inaugural cohort of 1000 youths in April. Machakos County Governor Wavinya Ndeti said the program has attracted Ksh20 Million sponsorship from the Kenya Commercial Bank. Speaking at AIC Katoloni in Machakos on during a fundraising event…

Meru traders call for elections of new leaders

Sacco ReviewJune 10, 202503 mins

Traders at Gakoromone market, in Meru County are calling for the election of new leaders, alleging corruption by the current leadership. They have raised concerns over disbursement of empowerment funds that were released by the government a few weeks ago. The bitter traders also raised questions on the formula and methodology of distribution, citing unfairness. “We…