Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By John Majau Meru County Miraa Sacco has been officially launched. The Sacco will champion the interest of miraa farmers locally and internationally. The society will also enable farmers to save and receive loans for business expansion and financial stability. Speaking in Maua town during the official launching of the Pioneer Sacco, leaders from the…
By Stephen Makabila Major re-organisation has been carried out at the State Department of Co-operatives following introduction of four positions of Senior Deputy Commissioners after the Commissioner’s office was elongated from Job Group S to T. The changes which took effect in January this year are the second after an earlier re-organization at the head…
By Mary Wanjiru Ndung’u Saccos have experienced tremendous growth in channel use over the recent past. A channel is defined as the means through which members can access Sacco products. One key indicator on the importance of mobile and ATM channel uptake by saccos is the fact that Sacco Societies Regulatory Authority (SASRA) in all…
The Government has communicated of its intention to go slow on approving plans by saccos that seek to open the common bond. Common bond is where a sacco recruits members outside its jurisdiction. For instance, common bond occurs when a sacco affiliated to teachers opens its doors to members outside teaching profession. Recruiting members from…
By Munene Maina Loise Methu has come a long way to be at the helm of Nakuru based Cosmopolitan Sacco Society Limited. Initially employed as an office sweeper by this Society, Methu will retire as a Chief Executive Officer of the same organization. Her story is one characterized by steadfastness, patience and focus. She has…
By Azael Masese The Government will soon dissolve more than 5,000 dormant co-operative societies as it seeks to tighten the loose ends in the otherwise vibrant sub-sector. Senior Deputy Commissioner in the State Department for Cooperatives Geoffrey Njang’ombe said that though there are more than 20,000 societies less than a half are active. “We want…
By Stephen Makabila A new Co-operative policy is finally set to be forwarded to the Cabinet for approval after over one year of waiting. According to the State Department of Co-operatives, the policy in its final draft form will be forwarded to the Cabinet once it is inaugurated by President Uhuru Kenyatta. Cabinet Secretaries are…
By Staff Reporter Two Saccos, which cannot be named for legal reasons, will soon be dissolved for non-compliance, State Department for Co-operatives has indicated. Senior Deputy Commissioner Geoffrey Njang’ombe said they are about to revoke their licenses which will lead to their dissolution. The move comes at a time when the Government is set to…
By Azael Masese The Government will put brakes on expansion of Savings and Credit Co-operatives (Saccos) to ensure there is regulated growth and financial stability in the sub-sector. Senior Deputy Commissioner in the State Department of Co-operatives Geoffrey Njang’ombe said loan repayment is posing a serious challenge hence the need to take the necessary steps….
By Staff Reporter Total assets held by Kenya Bankers Sacco increased from Sh6.3 billion in 2015 to Sh6.7 billion at the close of financial year ended 31st December, 2016. According to the Sacco Society Regulatory Authority (SASRA) Supervision Report, 2016, the sacco ranks 13th among largest deposit-taking sacco across the country in balance sheet size….
