Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Roy Hezron Cooperative society managers will soon be required to be fully registered and certified members of Kenya Society of Professional Co-operators (KSPC). Those targeted include Chief Executive Officers (CEOs) and others holding senior managerial positions in the cooperatives sector. “Those measures are meant to restore the image of the multi-billion sector which has…
By Roy Hezron A co-operative society baseline survey conducted last year found that many of them have no websites, email addresses and other digital tools. It was observed that many had no websites or email services, resulting in the low level of digitization in co-operative societies governed by the State Department of Cooperatives (SDC). Last…
By Malachi Motano Sacco leaders call for introduction of stiffer penalties against public entity heads who do not remit Sh3.8 billion deducted from workers’ salaries. According to Kenya Union of Savings and Credit Co-operatives (Kuscco) group Managing Director George Ototo, the stern measures will deter a trend where universities, county governments, water companies and fresh…
By Malachi Motano The deposit taking savings and credit cooperatives societies (DT-Saccos) remained on the growth track despite the harsh economic time in 2020 that resulted from the outbreak of Covid-19 pandemic. The Saccos managed to post an average of 12 per cent growth on their assets, loans and deposits. John Mwaka, the chief executive…
By Roy Hezron The National Co-operative Policy Operationalization (NCPO) Tasks-force has officially become operational after its members were gazetted. The tasksforce which was constituted by the Cabinet Secretary Agriculture Livestock Fisheries and Co-operatives Peter Munya will have 15 members and is expected to submit its report to the CS within 90 days from the date…
By Malachi Motano Savings and credit cooperatives societies (Sacco) will have to focus more on diversification to create wealth for their members in 2021. According to the Industry players, the sector is grappling with loan re-structuring to pick up business in the continued wake of Covid -19 pandemic, as members expect their hopeful returns popular…
My Malachi Motano Kenya Police savings and credit cooperative (Sacco) society limited has re-branded to Kenya National Police Deposit Taking (DT) Sacco society limited to reflect the changing environment landscape.
By Malachi Motano Saccos in the country are owed nearly 4 billion shillings in non-remittance of deductions from members. According to the Kenya union of cooperatives (Kuscco) managing director George Ototo, the 3.8 billion is largely owed by government linked institutions Speaking during the sixth annual Sacco leader’s convention held in Mombasa, Ototo said universities,…
By Malachi Motano The Cabinet secretary (CS) for Agriculture Peter Munya says it is high time the coffee sector is streamlined to allow farmers benefit from their commodity. “We have experienced cases of farmers paying many interests on small loans they take but the government has reduced the burden and farmers will be dealt with…
By Roy Hezron Stima and Tower Saccos are among the first four Primary Mortgage Lenders (PMLs) to benefit from the Sh2.75 billion Kenya Mortgage Refinancing Company (KMRC) kitty. The disbursement done on 17th December 2020 saw Nyandarua based Tower Sacco which is a get Sh29 million while Stima Sacco got Sh69 Million. The two Saccos…
