Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Jackson Okoth It appears that the road for corrupt Sacco officials, who have the habit of dipping their hands into the cookie jar, is nearing a dead end. This is if the Ethics and Anti-Corruption Commission (EACC) makes true its threat to assist the State Department for Co-operatives to conduct a lifestyle audit of…
By Munene Maina Dimkes Sacco posted a strong financial performance for the fiscal year ending 31st December 2018 registering an asset base growth rate of 5.4 per cent to reach Sh1.59 billion. The Sacco, which had positive outcomes in all growth parameters, also recorded increase in members’ deposit to reach Sh1.35 billion in 2018 from…
Defaulters to lose property in stringent loan recovery measures By Jackson Okoth Deposit-Taking Saccos have warned members of stringent loan recovery measures that include use of debt collectors and Credit Reference Bureaus to lock out loan defaulters from accessing Sacco products. The rate of non-performing loans has been on the rise in the Sacco sub-sector….
The Sacco is also set to introduce new products as it seeks to grow business By Wesley Ken Kimisitu Sacco will now offer Front office Services (FOSA). The resolution was unanimously passed by members during the Society’s 34th Annual General Meeting (AGM) held recently at the All Saints Cathedral in Nairobi, elevating the Sacco in the…
By Jackson Okoth Ol-Kalou-based Tower Sacco in Nyandarua County is set to open new branches in Nairobi and Narok counties, as more rural-based Saccos eye new opportunities and businesses in major urban centres. Most of these Societies are targeting women, the youth and those engaged in small and medium sized enterprises. Those who are engaged…
By Jackson Okoth A growing number of deposit-taking Saccos are reviewing their strategy on recruitment and lending to members involved in the informal and micro enterprise sectors. This has been occasioned by the high default rates by members from informal businesses. One such player is Wanandege Sacco Society, which has stopped recruiting members from the…
By Our Reporter Asili Sacco has maintained a steady growth in membership, members’ deposit and asset base to stand out among fast growing co-operative societies in the country. The Sacco shrugged off harsh economic realities in the financial year 2017 to post impressive financial performance. Its total asset base increased to over Sh 2.227 billion…
By Kage Njoroge Prominent cooperative industry leader, Stanley Charles Muchiri rose from a humble background to climb to the highest echelons of cooperatives leadership at the global arena. He joined the country’s cooperative sector at its formative stage in early years of independence and had witnessed it flourish to a competitive investment platform. He passed…
By Erick Nyayiera Individuals who are self-employed in Siaya County have been encouraged to embrace the culture of saving for retirement as a security measure for their old age. According to Retirement Benefit Authority (RBA) Cooperate Communication Manager Rose Kwena, those in self-employment should ensure they join the various private and occupational pension schemes to…
By Godfrey Wamalwa Anglican Church of Kenya Katakwa Diocese Women Sacco became the 100th to be registered in Busia County following the partnership between the County Government and Busia Women representative Florence Mutua. Mutua who presided over the launch in Amagoro recently pledged Sh500, 000 from the Affirmative Action Fund to help in kick-starting the…
