Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Saccos have emerged as a vital force in Kenya, making a significant positive impact on communities. With their roots in the cooperative movement, Saccos have evolved into inclusive financial institutions that cater for diverse sectors, including agriculture and technology. Beyond financial services, Saccos also contribute to women empowerment and sustainable development. In a country where…
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…
Umoja Wendani Sacco fraternity is in mourning following the demise of Sacco Chairman Elder Daniel Thige Wambugu. The deceased will be laid to rest on Friday, August 18, 2023 at his home in Chorong’i village, Nyeri Central sub county, Nyeri County. The late left behind a rich legacy of driving the community based Sacco to…
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…
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…
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…
Lake Region Economic Bloc (LREB) Chief Executive Officer Victor Nyagaya has revealed that the bloc has decided to form a Sacco to sustain its economic model. Nyagaya said the bloc has already done the legal paperwork for registration and that they plan to start with a Sacco then gradually build it into a regional bank….
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…
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…
Embu County has targeted to have all its adult population in cooperative societies. County Director of Cooperatives David Muriuki said sector stakeholders in the county are focused on recruiting 600,000 members, which the approximate number of people in the adult bracket. He said the cooperative movement in Embu controls up to Ksh14 billion in liquid…
