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

Asili Sacco recruits a record 3,500 members in 2023 as it casts net wider

Sacco ReviewApril 17, 2024April 17, 202403 mins

Asili Deposit Taking Sacco Society Limited, taking a huge leap in performance across board, pulled a major stunt in membership as 3,500 more were added into the fold in the year ended December 2023. In financial reports released by the Sacco National Chairman Evans Kegode Aluda during the Sacco Annual Delegates Meeting (AGM) in KICD…

Iconic Hilton Hotel in Nairobi’s CBD put up for sale

Sacco ReviewApril 17, 2024April 17, 202403 mins

Interested parties have been invited to purchase iconic Hilton Hotel situated in the Nairobi’s Central Business District. Both State and Hilton International Hotel Limited on Tuesday, April 16, separately invited expressions of interest from willing buyers to acquire 100 per cent equity stake in the hotel. In an advertisement published in one of the dailies…

How Saccos can assist members to spread out their investments

Sacco ReviewApril 17, 2024April 17, 202405 mins

Saccos are democratically owned and member-controlled financial institutions that play a pivotal role in Kenya’s financial services economy. These credit cooperatives more often than not provide a wide range of products and financial services to their members, including but not limited to savings, loans, insurance and investment. Saccos can play an important role in assisting…

Defaulters on Sacco loans accused of denying others chance to borrow

Sacco ReviewApril 17, 2024April 17, 202404 mins

Kericho County Commissioner of Cooperatives Dr Leonard Otii has said defaulters on loans and those who delay repayments are denying other members a chance to use the same facility. Speaking during Simba Chai Sacco’s Annual Delegates Meeting (ADM), Otii was concerned about the high rates of delinquency witnessed in some societies, which he cautioned the…

Saccos vs money market funds: Which gives the best return?

Sacco ReviewApril 17, 2024April 17, 202406 mins

Money Market Funds (MMFs) and Savings and Credit Cooperative Organizations (SACCOs) are both money-saving instruments that have gained popularity in the country. And they both promise one thing — to make your money work for you. The two work in different ways therefore understanding their unique features before making a choice is vital. What are…

CBK survey shows food prices decline in March, increased access to subsidized fertiliser

Sacco ReviewApril 17, 202404 mins

There has been a general reduction in prices of key food items last month compared to February. This is according to Central Bank of Kenya (CBK) Agriculture Sector Survey findings. The survey conducted from March 11 to 15, 2024 was aimed at identifying market expectations and recent trends on prices of key commodities and output…

Health, security set to receive largest budget increase

Sacco ReviewApril 16, 2024April 16, 202403 mins

Health, national security, Public administration and international relations sectors are set to receive the huge budget increases in the next Financial Year 2024/25. According to Institute of Public Finance (IPF), the increase in allocation will be necessitated by States’ needs preferences and the budget increase which is expected to grow by four per cent to…

State keen on fulfilling affordable housing promise, DP Gachagua says

Sacco ReviewApril 16, 2024April 16, 202402 mins

Deputy President Rigathi Gachagua has said that the Government is committed to ensure the success of the affordable housing programme. He said the programme is enabling youth earn their daily bread and has also assisted in reducing cases of alcoholism and drug abuse. “The President is very clear on his intention which is for the…

Kajiado County inspectorate officers will not use excessive force, assures Governor Lenku

Sacco ReviewApril 16, 2024April 16, 202402 mins

Kajiado County Governor Joseph Ole Lenku has said there will be no excessive force and harassment of business people by county inspectorate officers. This is after he graced the pass out of two hundred inspectorate officers who had undergone a rigorous training at Kasarani Stadium which is managed by Sports Kenya. They were trained on…

Private security firms ordered to stop monthly remittances to COTU

Sacco ReviewApril 16, 2024April 16, 202406 mins

The Private Security Regulatory Authority (PSRA) has ordered all security firms to immediately stop remitting union contributions to the Central Organization of Trade Unions (COTU). In a letter dated April 15, PSRA Director General Fazul Mahamed said for years, private security have consistently deducted trade union fees from the private security guards and subsequently remitted…