Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Legal limitation has increased Saccos’ loan portfolio risks By Jackson Okoth The process of blacklisting Sacco loan defaulters by Credit Reference Bureaus (CRB) will soon become mandatory. This is as soon as the Sacco Societies Act is amended to allow societies to share both positive and negative information of their members with the CRBs. These…
By Tsozungu Kombe The Government intends to ensure that co-operative societies become tools for social and economic development. This includes promotion of inclusivity and improved livelihoods for all through participation in the Big 4 Agenda. Speaking during the the 20th Annual SACCA Congress held in Mombasa County, Cabinet Secretary for Industry, Trade and Cooperative, Peter…
By Munene Maina Saving and Credit Co-operative Societies (Sacco) still command the lead in offering highest interest on savings and dividends to members annually, latest industry report shows. The Sacco Supervision Annual Report, 2018 released by Sacco Societies Regulatory Authority (SASRA) in August this year noted that Deposit-Taking (DT) Saccos paid an interest on the…
Only 22.9 per cent of women hold CEO position By Jackson Okoth Women are yet to break the glass ceiling in terms of ascending to top leadership in co-operative societies. Industry findings indicate that men still dominate boardrooms, management suites and internal audit positions within most of these societies. This gender disparity has remained intact…
By Jackson Okoth Government-based Deposit Taking-Saccos control majority of both total assets and total deposits in the Sacco sub sector. These financial co-operatives, which derive the bulk of their membership from Ministries, State agencies, Corporations and County Governments, controlled 37.67 per cent of the industry’s entire balance sheet of Sh 495.25 billion as at the…
By Washington Okellah Hundreds of rice growers from Bunyala sub-county in Busia County, who are members of Bunyala Rice Farmers’ Cooperative Society Ltd, are set to earn more. The Society has harvested and sold rice planted on 700 acre parcel of land according to its chairman Robert Musolo. He said they have a membership of…
By Florence Norah Migori County Youth Bunge Sacco chairman Joseph Nyapete has appealed to the youth to join Saccos to secure affordable loans. Nyapete, who was speaking during the launch of “Kuza Kazi” initiative by Coca-Cola and USAID at Kababu Technical College, urged youths to embrace self-employment. Nyapete told off youths waiting for white collar…
By Our Reporter Beth Mugo Cancer Foundation in collaboration with Co-operative Bank and other partners has drawn out a countrywide programme of Free Cancer Screening Camps where Kenyans can get free screening for the key lifestyle disease conditions that continue to ravage families including cancer, blood sugar levels, blood pressure and related health needs. The…
By Jackson Okoth It is quite disheartening that after sacrificing all their life savings and pumping their hard earned cash into Moi University Sacco Society, culprits, swindlers and thieves who stole from this co-operative society have taken to the hills and walking freely, leaving a distraught, helpless and penniless members. What is still not clear…
By Eugene Kioko Drivers in Machakos were recently screened for various eye conditions at Machakos Bus Park in an exercise organized by Machakos Matatu Owners Association. Association Chairman Steve Mutuku said they organised the clinic in conjunction with the National Transport and Safety Authority and The City Eye Hospital in order to gauge the eyesight…
