Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Pascal Mwandambo The other day, I told you about the unfortunate incident where disgruntled market traders attacked us as we were leaving a town planning committee meeting. I had accepted the offer to serve as the secretary of the committee with the hopes of making an extra buck and in doing so, overlooked the…
By Kamundia Muriithi Tea farmers in Embu County have decried the drop in Bonus payments as they blamed the same to poor management and dragging of implementation of reforms in the Tea sector. The Farmers, who received their awaited 2020-21 bonus at a lower rate, said their dues should have been higher compared to last…
Fredrick Odiero STIMA savings and credits cooperative society (SACCO) now intends to open a branch in Ksii region in order to satisfy the ever increasing demand for its services. According to Kisumu branch manager Mrs. Ann Ayoro the new branch will serve far flung areas such as Nyamira, Homa Bay and Migori together with Mbita….
By Fredrick Odiero Principal Secretary in the Ministry of Agriculture, Livestock and Fisheries Mr. Francis Owino announced that the government plans to start pond fish farming at Ogande Girls High school in Homa Bay County. Speaking in Ogande Girls during the issuing of equipment worth millions of shillings, Owino said the move is vital since it will enhance…
By Andrew Walyaula waliaulaandrew0@gmail.com Lenders in Kenya have gradually adopted the risk lending based mechanism, a move that has led to the rise of credit rating uptake. The Credit Reference Bureau (CRB) Regulation 2020 mandates lenders to use a customer’s credit score when appraising a credit application. Metropol CRB General Managing Director Sam Omukoko urged…
By Tsozungu Kombe Registration of new cooperative societies in Lamu County has been disrupted by the Covid-19 pandemic currently being experienced across the country, Sacco Review has reliably established. Speaking to Sacco Review from Lamu town recently, Lamu county Cooperative auditor, Mr. Nickson Baya disclosed that the registration exercise of new Saccos in the region…
By Kamundia Muriithi and Kage Njoroge Coffee farmers in Kirinyaga County have sought to have majority representation in the Coffee Board of Kenya (CBK), under the proposed Coffee Bill 2021. The growers want to have their own make 80 percent representation at the board, and to have a coffee farmer as the chairman. They told…
By Sammy Chivanga Savings and Credit Co-operative Societies (Saccos) withdrawable deposits rose by Sh57.55 billion amid an environment of Covid-19 economic hardships, pointing to increased confidence of members in the stability of the sub-sector. Latest data from the Sacco Societies Regulatory Authority (SASRA) shows that withdrawable deposits—an equivalent of transactional deposits in the banking sector…
By Sammy Chivanga Savings and Credit Cooperative Organizations (Saccos) have cut returns on members’ savings and share capital for the third year running. Sacco Societies Regulatory Authority (Sasra) report on Saccos shows that deposit-taking (DT) Saccos last year paid an average of 6.01 % on the deposits, a drop from 6.72 % in 2019. The…
By Sammy Chivanga Savings and Credit Co-operative Societies (SACCOs) are being challenged to review their IT systems and also take insurance covers on the back of cyber-attacks that have in the recent spate of attacks cost them Sh106 million. The money was lost in the 17 months to March 2021, meaning that Saccos were losing…
