Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Our Reporter The regulator has directed all non-deposit taking Saccos to maintain their external auditors for another year after Covid-19 scuttled annual general meetings (AGMs) where a change of auditors is usually ratified. The Acting Commissioner for Cooperatives Geoffrey Njang’ombe has in a circular to all cooperative societies said only those hard-pressed to change…
By Sammy Chivanga The regulator is now calling for the merger of various small Savings and Credit Cooperative Societies (Saccos) to bring stability and efficiency in the vibrant sector that holds over Sh380 billion in deposits. Sacco Societies Regulatory Authority (Sasra) says that large Saccos are deepening the control of deposits – a key source…
KSPC has no legal mandate to set guidelines in hiring of Sacco staff By Our Reporter The Savings and Credit Co-operative Society (SACCO) industry has yet to develop a framework that can be used when recruiting of senior management staff or even board members. While most of these Saccos have vetting committees, which nominates individuals…
By Elizabeth Angira Teachers have been urged to do mobile banking to avoid Coronavirus pandemic. This after the teachers have been camping at Gusii Mwalimu Sacco Branch waiting for their dividends on long cues. Speaking in his office, Gusii Mwalimu Sacco Branch, Mr. Charles Omwanza stated that it has become a challenge to handle such huge crowd of teachers who are not adhering to the government …
By Jackson Okoth A growing number of Savings and Credit Co-operative Societies (Saccos) are facing a dilemma. Most are at a loss over how to retain an ageing membership that is fast withdrawing from the society, upon retirement from formal employment. Majority Saccos have no specific financial products or services for their retired members, owing…
By Geoffrey Njang’ombe The Co-operative Movement in Kenya has mobilized savings to the tune of Sh776 billion and commands an asset base of Sh1 Trillion. It has granted members loans to the tune of Sh742 billion. This is big achievements for our country and we will continue providing a conducive environment for the growth of…
By Obegi Malack Acumen Equities Limited launched its new logo to keep up with current business and market trends which will lead to achievement of vision of the company The logo is now the face of the company and connects with all current and future customers. It also attracts local and international business. Julius N…
By Munene MainaMuki Savings and Credit Cooperative Society, a fast growing rural based Sacco in Kinangop, Nyandarua County is a story that began with the sowing of small but well-selected seed that blossomed into an inspiring co-operative. Muki’s phenomenal growth has been a tale of humble beginnings using members’ own savings, and using members ingenuity to progress…
By Obegi Malack Motorcycles are increasingly becoming a popular means of transport for many rural and urban dwellers. However, a National Crime Research Centre (NCRC) report has found that motorbike riders are the leading cause of road accidents, increased crimes, and teenage pregnancies. Many boda boda operators have also become lynch mobs who know no…
By Dennis Bett Boda Boda operators in Elgeyo Marakwet have received reflectors and face masks from Prime Time Sacco as part of its corporate social responsibility. 13 Boda Boda youth groups benefited. The Sacco has issued more than 100 motorbikes to the youth on loan and plans to ensure that more youth acquire the motorbikes…
