Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Azael Masese CIC Group weathered a tough 2017 to record double digit growth in all its critical market segments, positioning itself as a key financial market player particularly in the co-operative sector. The company posted Sh14.9 billion in premium in the financial year ended as at 31st December 2017 compared to Sh12.4 billion recorded…
By Patrick Odenyo Kenya Union of Savings and Credit Co-operatives (KUSCCO) has launched a series of projects that will culminate into improved service delivery and efficiency for Sacco members. Addressing delegates in Nairobi’s Laico Regency Hotel during the 31 Annual Delegates Meeting, Kuscco Managing Director George Ototo said that last year’s transformative journey is set…
By Obegi Malack Kajiado County Co-operative Commissioner Jane Karanja has urged co-operative societies to open branches in remote areas to reach out for more members. Karanja who was speaking during opening of Ollin Sacco new branch in Kiserian said areas such as Shompole, Nguruman in Magadi’s Kajiado West Constituency remain untapped. She said more locals…
By Azael Masese Savings and Credit Co-operative Societies in Machakos County have been urged to conduct aggressive marketing campaigns to increase their business volumes. County Co-operative Officer Joe Maina noted that critical among them is to improve on their share capital and deposits. Despite the societies’ closeness to Nairobi and the commercial opportunities it presents,…
By Azael Masese Borrowing from financial institutions such as commercial banks is a key source of funding for Savings and Credit Co-operative Societies (Saccos) facing financial constraints. While some borrow to undertake major investments, others do so for onward lending to its members and this might hurt their operations if not carefully evaluated. Vision Point…
By Erick Nyayiera Siaya County government through the department of Enterprise and Industrial Development has been asked to channel its Co-operative Development Funds to residents through established Savings and credit co-operative societies (Sacco’s). According to Bondo sub-county Commissioner of Co-operatives Aineah Ayamba, the Co-operative Development Fund will only benefit Siaya residents if it is channeled…
By Our Reporter Homa Bay County Women’s Sacco is on the verge of turning into a bank. The Sacco is currently pursuing a partnership with the Women Enterprise Fund (WEF) to fulfill its mission. The society was started by Woman Representative Gladys Wanga about three years ago. Currently it has 10,000 members. Its success has…
Below is a glimpse on what co-operators earned for the financial year 2017 from various saving and credit societies based on financial reports seen by Sacco Review.
By Kage Njoroge Amica Savings and Credit Society, one of the fastest growing Saccos, has urged its customers to embrace emerging technologies and transact their business on the Sacco’s ICT money transfer platforms for their convenience. Amica Sacco’s management calls on its clients to take up technology based alternative channels to access quick services, without…
By Munene Maina Kingdom Sacco has joined Tier 3 category of medium Saccos. The Sacco registered growth in asset base to Sh1.116 billion by close of 2017 to move up from Tier 4 category of small Saccos. It registered positive performance in the year despite various challenges arising from the political and economic environment in…
