Sacco Review - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Universities, colleges yet to remit Sh2.86b to Saccos, says Sasra

Sacco ReviewOctober 19, 2020October 19, 202004 mins

By Roy Hezron Public universities and other tertiary institutions have been accused of failing to remit members’ deductions to Saccos. The Sacco Societies Regulatory Authority (Sasra), in its annual report, says that the highest proportion of total non-remitted deductions are owed by public universities and colleges. With five deposit-taking Sacco societies whose membership are directly…

Saccos scramble for boda bodas, women groups

Sacco ReviewOctober 17, 2020October 17, 2020010 mins

By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are increasingly turning their focus on motorcycle riders and women groups for new membership and uptake of products. Motorcycle riders, popularly known as boda bodas, are in particular seen as the fastest growing income group and many Saccos are coming up with targeted products for them….

Co-op chases away brokers in Kwale

Sacco ReviewOctober 5, 2020October 5, 202004 mins

By Collins Akong’o Farmers in Kwale County no longer worry of market or unscrupulous middlemen thanks to Kwale Pamba and Viazi Cooperative Society (PAVI). PAVI, which was formed in 2014, has enabled local farmers to participate in agricultural livelihood programmes initiated by Base Titanium Company. According to John Cooke, the programme manager, its membership has…

How teacher used Sacco loan to venture into lucrative onion farming

Sacco ReviewSeptember 23, 2020September 23, 202005 mins

By Martin Ruto Martin Kororia is not only a passionate teacher, but he also loves farming. He is currently doing well in onion farming, which he is now considering expanding. He attributes his success to Trans National Times Sacco. It all started with a loan he got from the Sacco that he used to buy…

Youths take back seat in key Sacco positions

Sacco ReviewSeptember 22, 2020September 22, 202006 mins

Only 10.5 per cent of the DT-Saccos’172 CEOs are below 35 years latest Sasra data shows By Sammy Chivanga Young people are conspicuously missing from essential Savings and Credit Cooperative Societies (SACCOs) positions despite making up nearly a third of the membership, raising questions about the succession structures in the vibrant sub-sector. An analysis by…

Saccos turn to marketing executives to grow membership

Sacco ReviewSeptember 18, 2020September 18, 202008 mins

By Sammy Chivanga Savings and Credit Co-operative Societies (Saccos) are increasingly turning to marketing executives to recruit and retain new members as dormant members rise. This is a new trend in the Sacco movement that has traditionally been depending heavily on existing members to market their organizations. Members have been receiving back up from a…

Wananchi Sacco stands with members during Covid-19 period

Sacco ReviewSeptember 17, 2020September 17, 202001 mins

By Staff Reporter Wananchi Sacco has come up with new strategies to curb any possible spread of the Coronavirus disease among its members and the community at large. The Sacco is investing in mobile banking to offer a wide range of services. Its M-Wananchi platform enables members to check balance inquiries, withdrawals, deposits, airtime purchase,…

Kilifi County sets aside Sh1.6m for capacity building for new sacco staff

Sacco ReviewSeptember 16, 2020September 16, 202012 mins

By Tsozungu Kombe Kilifi county will spend Sh1.6 million this year to conduct capacity building seminars for newly registered Sacco top officials. Speaking to Sacco Review , Kilifi County Cooperatives Director, Mr. James Mwasi said the the county will revive five dormant Saccos in the area. He said the county government will conduct audit clinics for…

Saccos warned on risky borrowing to acquire assets

Sacco ReviewSeptember 15, 2020September 15, 202004 mins

By Azael Masese Savings and Credit Cooperatives Societies (Saccos) must desist from investing members’ deposits or borrowing to put up rental or commercial buildings. Acting Cooperative Commissioner Geoffrey Njang’ombe noted that with the high interest rates regime, it makes no economic sense for societies to venture into the businesses. “This used to be a fashion…

As ATM use wanes, Saccos deepen digital services

Sacco ReviewSeptember 14, 2020September 14, 202009 mins

By Sammy Chivanga Savings and Credit Cooperative Societies (SACCOs) are deepening digital services to conveniently serve customers as branches and Automated Teller Machines (ATMs) popularity drops. Many Saccos are now launching their e-banking services to enable customers to transact at the palm of their hands. Competition from other financial service providers such as banks and…