Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Mombasa County has witnessed major growth in the number of savings and credit cooperative societies (Saccos) as residents embrace new ways to uplift their living standards. County Cooperative director Nelson Nyoro said some 30 new Saccos were registered by Cooperative Development ministry between July last year and March this year. Among the cooperative societies registered…
Co-operative societies in Kisumu County have been urged to join Sacco Societies Regulatory Authority (SASRA) to improve their financial situation.The officer in charge of cooperatives in Kisumu Central sub-County Philip Akama said they would organise a meeting for members in order to educate them on the importance of being a member of SASRA, a body…
Cooperatives Cabinet Secretary Simon Chelugui has underscored the need for the government to mobilise available resources to generate revenue rather than depend on borrowed funds. Chelugui noted that Kenya has a lot of untapped resources which should be tapped into to generate revenue. “We can mobilise our own savings to invest in express highways, water…
Some 1,200 members of a farmer’s cooperative society in Homa Bay County have lauded plans by Kenya Breweries Ltd (KBL) to raise payments for sorghum farmers in the region. Elisaphan Ager, the chairman of Karachuonyo Lolwe Rume Cooperative Society said the move will go a long way in boosting the morale of sorghum farmers in…
Property developers of mega housing projects have decried the rising cost of building materials, saying it could make realization of affordable housing impossible. Safaricom Investment Co-operative chairman Peter Gichangi said that the government should cushion developers from high increases in the cost of inputs such as steel and cement among others to enable them undertake…
Personal finance refers to a financial management process which an individual or a family unit engages in to budget, save and spend financial resources over a given period of time, considering various financial risks and future life events and expectations. Financial experts argue that personal finance literacy is critical in helping an individual make rational…
State Department for Cooperatives Principal Secretary Patrick Kilemi has stated that the BT cotton seeds being distributed through Saccos will go a long way in strengthening the cotton value chain in the country. Kilemi added that a vibrant cotton sector will reduce the cost of production per litre of milk and help address the shortage of…
The group lending model has increasingly become popular among Saccos and Micro-Finance Institutions (MFIs) in recent years. This is largely based on its ability to leverage on joint liability and increased loan repayments while promoting entrepreneurial spirit among borrowers. Group lending methodology is a unique financial service for low income entrepreneurs. To obtain such a…
Kenya Industrial Research and Development Institute (KIRDI) has partnered with the University of Nairobi (UoN) to train female fishmongers on value addition and preservation of their produce. KIRDI Head of Food Technology & Research Gitutu Nyambane said through the training, the women will be able to use food processing technology to preserve fish in order…
Uasin Gishu governor Jonathan Bii has promised to increase the Cooperative fund through a hustler kitty, a move that echoes the national government’s bottom up economics. He said this will ensure that many people who are in groups benefit. “As a county, we have a standalone Cooperative ministry and my government will increase money allocated…
