Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Malachi Motano Covid -19 pandemic disrupted a lot of operations across many sectors of the economy and Sacco sector was one such industry. To understand how the pandemic really affected the Saccos space in Kenya, the volatility, lessons learnt and remedies to adopt to caution future disruptions, Cynthia Wandia, core founder and CEO of…
By Kamundia Muriithi Owning a home is a dream that many Kenyans harbour, but few actualise it due to the associated high costs of constructing houses. In recent times, housing cooperatives have sprung up in different parts of the country to empower ambitious Kenyans acquire decent, modern houses through homeownership plans. Coupled with the government’s…
By John Majau Meru County Government has released Sh10 million to the Meru People With Disability (PWD) Sacco to empower them economically. The money will be lent out to members across the County at low interest rates in line with the devolved government’s promise to empower PWDs. Speaking when he presented the cheque to Sacco…
By Malachi Motano The State Department of Cooperatives (SDC) is in the final stages transforming passenger transport Saccos into cooperatives. The Commissioner of Cooperatives Geoffrey Njangombe, says the process is now only awaiting stakeholder’s sensitization. Draft by-laws to ensure realization of the transformation and rebranding from PSV Sacco to Trans-coop have already been published. The…
BY TALARUS CHESANG The Sh85 million Baringo Cha Coffee factory has been commissioned in a 2.5 acre Tugen hills farm in Baringo North. There was some tussle with the location of the milling plant; some stakeholders proposed Baringo North while others wanted it taken to Eldama-Ravine sub-county. Baringo Governor Stanley Kiptis said they had been…
By Malachi Motano Saving and Credit Cooperative Societies (Sacco) leaders must counter the fear of redundancy that is slowing the adoption of technology in their institutions. The Head of information Technology (IT) at Boresha Sacco Winnie Sergon says it is only through adoption of technology that they can compete effectively in the financial sector. “It…
By Sammy Chivanga Just as the name suggests, Savings and Credit Co-Operative Societies (Saccos) are about members cooperating to create a pool of savings from which to borrow for growth. The Sacco movement in Kenya is founded on trust because people mobilise money and take loans at attractive interest rates to achieve their dreams. But…
By Benedict Ng’etich Saving and Credit Societies in Bomet County have been urged to adhere to the recommended key audit ratios if they want to succeed. Bomet County Government auditor K. Kemboi asked local societies to be compliant on recommended key audit ratios of member’s savings.“Some key audit ratios like the retained reserves are geared…
By Dennis Bett The National Assembly Trade, Industrialization and Cooperatives Committee will push for allocation of more money to industries. The MPs said support should be accorded to the manufacturing sector and more so cooperative societies including ailing Sacco’s for the country to attain industrialization. The team led by Vice chairperson Oundo Wilberforce Ojiambo spoke…
By Nancy Masit Nancymasit80@gmail.com. Members of Nkoilale Women Group in Narok South Sub-County are now engaged in commercial bead weaving which has impacted positively on their lives. Magdalene Ntinka who is the production officer at their craft centre said the group was started in 2005 and has 85 women whose main activity is beadwork and…
