Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Roy Hezron Cooperative societies raised a total of 13 million to the Co-operative Coronavirus Response Committee (CCRC) to fight the Covid-19 pandemic. The committee was constituted by the Department of Co-operatives to cushion vulnerable members in the co-operatives sector who were heavily affected by the pandemic. Speaking to Sacco Review, Commissioner for Co-operatives Mr….
By Roy Hezron Murang’a County Governor Mwangi wa Iria says he will soon establish a co-operative society for hawkers. The Governor said they have started recruiting members and so far 30,000 hawkers and small-traders have registered as members of Wachuuzi Cooperative Society. He said the county government is coming up with a law which will…
By Malachi Motano Kikuyu based Ndetika Rural Sacco Ltd (NRS) has launched an E-Banking App, an additional product to an array of services it offers members and customers. The society says the new product will be handy in improving support and services to its customers which also improve efficiency to its clientele. The Sacco unveiled…
By Asa Maina Nyeri Governor Mutahi Kahiga has challenged teachers to apply for county tenders so as to increase their revenue base. Speaking during the Newfortis Sacco (formerly Nyeri Teachers Sacco) Annual General Meeting (AGM), Kahiga asked teachers to start other income generating ventures instead of relying on their salaries alone. He also urged lending…
By Roy Hezron Cooperative society managers will soon be required to be fully registered and certified members of Kenya Society of Professional Co-operators (KSPC). Those targeted include Chief Executive Officers (CEOs) and others holding senior managerial positions in the cooperatives sector. “Those measures are meant to restore the image of the multi-billion sector which has…
By Roy Hezron A co-operative society baseline survey conducted last year found that many of them have no websites, email addresses and other digital tools. It was observed that many had no websites or email services, resulting in the low level of digitization in co-operative societies governed by the State Department of Cooperatives (SDC). Last…
By Malachi Motano Sacco leaders call for introduction of stiffer penalties against public entity heads who do not remit Sh3.8 billion deducted from workers’ salaries. According to Kenya Union of Savings and Credit Co-operatives (Kuscco) group Managing Director George Ototo, the stern measures will deter a trend where universities, county governments, water companies and fresh…
By Malachi Motano The deposit taking savings and credit cooperatives societies (DT-Saccos) remained on the growth track despite the harsh economic time in 2020 that resulted from the outbreak of Covid-19 pandemic. The Saccos managed to post an average of 12 per cent growth on their assets, loans and deposits. John Mwaka, the chief executive…
By Roy Hezron The National Co-operative Policy Operationalization (NCPO) Tasks-force has officially become operational after its members were gazetted. The tasksforce which was constituted by the Cabinet Secretary Agriculture Livestock Fisheries and Co-operatives Peter Munya will have 15 members and is expected to submit its report to the CS within 90 days from the date…
By Malachi Motano Savings and credit cooperatives societies (Sacco) will have to focus more on diversification to create wealth for their members in 2021. According to the Industry players, the sector is grappling with loan re-structuring to pick up business in the continued wake of Covid -19 pandemic, as members expect their hopeful returns popular…
