Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Gilbert Kobi Kisii County Commissioner for Co-operative Development, Pamela Kemunto has urged parents to support their children to embrace the culture of borrowing loans, making investments and saving in Savings and Credit cooperative (Sacco) societies to boost their incomes and strengthen the societies. The Commissioner challenged the parents to secure loans from the Sacco societies…
By Cally Imbayi Fish farmers in the Lake Region Economic Bloc(LREB) which include Kakamega, Kisumu, Siaya, Kisii, Bungoma, Busia, Bomet, Vihiga, Migori, Homabay, Trans-Nzoia, Nyamira,Kericho and Nandi will have ease in storing, processing and selling their fish as a fish processing plant is opened in Kakamega. The Kakamega County Fish Processing Factory that was commissioned…
By Malachi Motano David Obonyo has become the new Co-operative Commissioner replacing Geoffrey Njang’ombe who is set to retire later this year after an illustrious career in civil service spanning to over 32 years. Njang’ombe succeeded Didacus Ityeng’ who was appointed under acting capacity as Commissioner in 2019, which he held the position for…
By Malachi Motano Stima Sacco has partnered with the Kenya Mortgage Refinance Company (KMRC) to offer low-cost home purchase loans to its 14,000 members, most of who are drawn from the energy sector. The sacco will now offer the mortgages at 9 percent per annum on a reducing balance for members in formal employment. Those…
By Malachi Motano Co-operative Alliance of Kenya (CAK) has organised training on taxation, cybercrime risks and preventions for leaders and general Co-operatives stakeholder to help reduce the rising criminal activities brought about by the fast changing technology. “It has been a year since Kenya registered the first case of Covid-19. The news changed how we…
By Fred Sitati Cooperatives, by their very definition, are formed to serve the socio-economic and cultural needs of their members. However, the majority of cooperatives in Africa are agro-based and financial in nature while aspects of social services are given a wide berth. In view of the challenges facing humanity globally courtesy of Covid-19 pandemic,…
By Malachi Motano The Sacco Societies Regulatory Authority (SASRA) Board has today confirmed the appointment of Peter Njuguna as the Authority’s Chief Executive Officer (CEO), effective immediately. Mr Njuguna has been acting as the SASRA CEO since April 2021 when John Mwaka exited the authority upon the expiry of his term. The new CEO brings…
By Fred Sitati The endemic cases of mismanagement in the cooperative movement have reached alarming proportions in the country according to the report released by the Ethics and Anti-corruption Commission (EACC) recently. The EACC Report is coming hot on the heels of the government creating an Anti-fraud Unit domiciled at the Sacco Societies Regulatory Authority(…
By Sasra Sacco Societies Regulatory Authority (Sasra) has released the Sacco Supervision Annual Report, 2020 which highlights the operations and performance of Sacco Societies during the year ended, December 2020. The Report highlights both the aggregated and individual financial performance of the DT-Sacco segment in 2020, as well as the complementary role of DT-Saccos in…
By Fred Sitati Cooperatives, by their very definition, are formed to serve the socio-economic and cultural needs of their members. However, the majority of cooperatives in Africa are agro-based and financial in nature while aspects of social services are given a wide berth. In view of the challenges facing humanity globally courtesy of covid-19 pandemic,…
