Sacco Review

SACCO SASRA

SASRA: Saccos have 21 days to address members’ complaints

Sacco Societies Regulatory Authority (SASRA) has issued new guidelines on complaints management by cooperatives. According to the new guidelines, Saccos have only 21 days to investigate and solve members’ complaints. The days will be split into two; 14 working days for carrying out investigations into complaints and an additional seven days to communicate to members…

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SACCO

Issue more loans to farmers to increase agricultural production, Govt urged

Bishop Meshach Mukwili of the Africa Brotherhood Church has urged both the national and county governments to provide more soft loans to farmers to enable them expand farms, create employment and boost food production. Speaking during a leaders’ forum in Wote Church, the bishop also reiterated that there is need for farmers to embrace technology so…

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SACCO

Obonyo raises alarm over increased cybersecurity attacks in Saccos

Commissioner for Cooperatives David Obonyo has raised concern over the threats posed by cyber-related crimes in Sacco operations. Obonyo lamented that criminal activities that target users through computers and phones have been on the increase in the Saccos. “This challenge is more prominent in Saccos that are financially struggling and those that are suffering from…

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sacco

Banks urged to change lending packages to serve SMEs

The government is negotiating with banking institutions to streamline their lending packages to accommodate small and medium enterprises, which are thought to be the pillar to the country’s future economy. Cooperatives Cabinet Secretary Simon Chelugui said the government was consulting with banks to restructure and be more attractive to the small and medium enterprises. Chelugui…

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SACCO

KSPC wants policy safeguards on assets of Coops facing liquidation

A 2020 Survey conducted by the State Department for Co-operative Development revealed that there are 5,723 dormant cooperatives, which are at risk of losing its assets to unscrupulous officials.  Kenya Society of Professional Co-operators (KSPC) is now calling on government to develop policy guidelines that will help to safeguard assets of cooperatives that may fall…

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bill

MCAs urged to fast-track passage of County Cooperative Draft Bill

The County Assembly of Taita Taveta has been asked to fast-track passage of the County Cooperative Draft Bill to provide trustworthy market intelligence, practical advice and business tools to regulate and streamline registration of Saccos in the County. Deputy Governor Christine Kilalo said that the county administration is keen to ensure cooperatives in the area…

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