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

Sacco Loan Book Grows Fastest in Four Years on Covid-19 Hardships

Sacco ReviewSeptember 15, 2021September 15, 202107 mins

By Sammy Chivanga Savings and Credit Cooperative Organizations (Saccos) members tapped Sh54.19 billion additional loans last year on the back of coronavirus disruptions that hurt incomes for households. The new credit saw the loan book of Deposit-Taking (DT) Saccos rise by 13.41 percent to Sh473.74 billion from Sh419.55 billion, being the fastest jump in four…

Saccos emerge from Covid-19 morass

Sacco ReviewSeptember 15, 2021September 15, 202108 mins

By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are recording a sharp rise in demand for development loans after the Covid-19 slump. Most Saccos are now happy that members have emerged from the Covid-19 morass that had left the cooperative movement with a lot of liquidity. The demand for development loans is in sharp…

Worry as Dormant Sacco Members Hit 1.4m Due to Economic Hardships

Sacco ReviewSeptember 15, 2021September 15, 202108 mins

By Sammy Chivanga The number of dormant members in the Savings and Credit Cooperative Societies (Sacco) has risen by 79.55 percent to 1.37 million on increased job cuts and delayed salaries from struggling entities. The increase in dormant membership is the fastest in recent years and came on the back of economic fallout that hit…

Youth in Business Asked to Form Saccos for Advancement of Their Activities

Sacco ReviewSeptember 15, 2021September 15, 202102 mins

Fredrick Odiero The Kisumu County Government has called upon youths who are engaged in various enterprises to form Savings and Credit Cooperative Societies (Saccos) in order to advance their activities. The Director of Co-operatives, Trade and Enterprise Susan Kanga said Saccos when formed will ensure youths borrow credit and other facilities from the government. Addressing youth…

Alarm as coffee thieves hit factories in Meru

Sacco ReviewSeptember 8, 2021September 8, 202105 mins

By John Majau Security agencies in Meru County have raised an alarm after three coffee factories lost more than 360 bags of coffee valued at Sh5.8 million in the last six months. Police now suspect insiders could be colluding with criminals to have the coffee stolen. This is because most of the incidents are said…

Form groups to get loans, cassava farmers urged

Sacco ReviewSeptember 8, 2021September 8, 202102 mins

By Tsozungu Kombe Cassava farmers in Malindi sub county in Kilifi county have been urged to form groups in a bid to secure loans from MicroFinance Fund from the Kilifi county government to bost their farming activities. Speaking to Sacco Review in her office in Malindi town recently, Malindi sub county Co-operative Officer, Mrs Flister…

Youth in Business Asked to Form Saccos for Advancement of Their Activities

Sacco ReviewSeptember 6, 2021September 6, 202102 mins

Fredrick Odiero The Kisumu County Government has called upon youths who are engaged in various enterprises to form Savings and Credit Cooperative Societies (SACCOS) in order to advance their activities. The Director of Co-operatives, Trade and Enterprise Susan Kanga said Saccos when formed will ensure youths borrow credit and other facilities from the government. Addressing youth…

Malava Teachers Housing Sacco Dismiss Claims of Funds Misuse

Sacco ReviewSeptember 6, 2021September 6, 2021011 mins

BY ANDANJE WAKHUNGU Officials at the Malava Teachers Housing Co-operative Society have come out to strongly condemn the utterances by the region’s Kenya National Teacher’s Union (KNUT) that there were misappropriation of funds at the co-operative, terming the allegations as propaganda meant to portray them as corrupt. They cited that, there were plans by the…

Kitui Sacco puts up chicken abattoir

Sacco ReviewSeptember 6, 2021September 6, 202104 mins

By Boniface Mulu The Kitui County Poultry Traders Savings and Credit Cooperative Society Limited has constructed a chicken abattoir at a cost of Sh4.2 million. The abattoir is at the Wikililye market in Katulani region of Kitui County. The amount is part of the Sh9.8 million funding by the National Agricultural and Rural Inclusive Growth…

Bodaboda Sacco Transforms Youth in Murang’a

Sacco ReviewSeptember 2, 2021September 2, 202106 mins

Meet George Mungai Njoroge. He is the vice chairperson of a Bodaboda Sacco in Murang’a County. He shares with Malachi Motano how the Sacco that was formed only five years ago has become a source of inspiration after transforming the lives of its members who are majorly the youth. “It is high time for youths…