Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Correspondent The much-anticipated turnaround of coffee cooperatives following the introduction of cherry advances to the farmers by the recently created New KPCU, a state corporation, continues to elicit mixed reactions from those expected to benefit from the proposed interventions. A cursory assessment shows that the uptake of this facility remains way below expectations despite…
By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are increasingly winning county government staff into the cooperative movement but are dragging their feet on investing in multiple sectors at grassroots level in order to deepen their relevance in the economy. The lack of properly structured internal policies for making targeting investments is standing in…
By Malachi Motano The Savings and credit cooperative societies (Sacco) sub-sector defied the economic challenges recorded in the troubled 2020 financial year to record a growth of 14 per cent in assets during quarter three compared to the same period previously. According to the Sacco Societies Regulatory Authority (Sasra) chairman John Munuve, the sector’s assets…
By Malachi Motano Kisumu Bus Terminus was a beehive of activities on Monday as buses and matatus from different Saccos started ferrying passengers on full capacity. The development following a Memorandum of Understanding (MoU) between the Government and Matatu operators who said they had suffered losses since when the COVID-19 restrictions were introduced in March…
By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are dragging their feet on diversifying their investment into new areas such as health and education as the high demand for loans among members put pressure on their wallets. While the desire to branch into areas such as health exists, not many members are ready to…
By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are increasingly winning county government staff into the cooperative movement but are dragging their feet on investing in multiple sectors at grassroots level in order to deepen their relevance in the economy. The lack of properly structured internal policies for making targeting investments is standing in…
By Malachi Motano The employer based Saccos must now adopt alternative methods to generate income and remain afloat even during difficult economic times like the current Covid – 19 pandemic, rather than relying on the unreliable employers who might remit their employees deduction at their own volition, leaving the societies at the verge of collapse…
By Malachi Motano The government is in the process of implementing the Savings and credit co-operative societies (Saccos) deposit guarantee fund to insulate depositors from unforeseen eventualities. “We are finalising the National Cooperative Policy that will allow the creation of the Sacco Deposit Guarantee Fund (SDGF), a scheme which will provide protection to Sacco deposits….
By Malachi Motano The Kenya Union of Savings and Credit Co-operatives (Kuscco) group has urged saving and credit cooperative societies (Saccos) to safeguard their members’ data in line with the Data Protection Act, 2019. “The Saccos managements should practice data protection by design, by ensuring necessary systems, documents, procedures and policies are in place,” said…
By Kamundia Muriithi Kenya Teachers Sacco Association (KETSA) has new board of directors elected into office during its Annual General Meeting (AGM) held in Embu County recently. The newly elected directors led by the new chairman Mr Robert Njue Kithanju has promised to steer KETSA to greater heights so that it would continue advocating for…
