Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Before I get to the core of this story, let me tell you about the amusing anecdote about a strange ‘doctor’ in the village where I grew up. I describe him so because some of the shenanigans he exhibited border on the absurd, if not criminal. You see Disco Matanga, for that was his name,…
Savings and Credit Cooperatives Societies (Saccos) have been urged to change the criteria they use to measure their contribution to the country’s economic and social wellbeing. Sacco Societies Regulatory Authority (SASRA) CEO Peter Njuguna noted that the annual performance based on growth of asset base, deposits, share capital and surplus is never enough. Njuguna underscored…
The successful growth of most Saccos in Kericho and Bomet counties can be traced back to serious commitment by a few ambitious elders. Most of the prominent businessmen today in Kericho County started in a trade known as “Kipsigirio”, which is the use of donkeys to transport commodities. Others were pioneer teachers, while some were the…
Rose Wambua, a former banker at Cooperative Bank of Kenya, has urged upon the government to partner with the private sector to create jobs and fight poverty. Addressing women groups at Kawethei village in Kangundo constituency, Wambua said the private sector plays an important role in the growth of the economy and that job creation…
Wakenya Pamoja Sacco has taken a new growth trajectory with the launch of Wakenya MCash, which is part of its elaborate plans to rebrand as a way of fostering service delivery and improving business performance. The new product will allow members to transact remotely without having to travel to their branches, bringing convenience and comfort…
To ward off unscrupulous cartels that have permeated avocado industry and made themselves a bargaining chip, farmers from Kericho county have formed a cooperative society. Kericho Avocado Farmers Cooperative Society was presented to the registrar of companies last year by the farmers as an umbrella body to collectively market their produce and enhance productions for…
One basic characteristic that distinguishes companies from cooperatives is that companies are associations of capital while cooperatives are associations of persons. Additionally, while companies strive to maximize profits for their shareholders, the same cannot be said of primary cooperatives that are voluntary self-help organizations that aim to solve members’ socio-economic and cultural needs. At the…
Sacco Societies Regulatory Authority (SASRA) CEO Peter Njuguna has stressed on the need for Saccos to collaborate to achieve greatness. “We have realized that Saccos actually collaborate significantly with various service providers because Saccos alone cannot provide the services. Courtesy of the collaborations we have had so far, you will note that we have grown…
Competition for payment of super dividends and interest on deposits among Saccos has topped the list of the major issues affecting the pace of growth of the cooperative movement in the country. The Kenya Society of Professional Co-operators (KSPC) has raised concern over the current trend of offering super dividends and interest on members’ deposits…
I have been busy with my business associate Ole Gunia, with whom, I am sure by now, you know we have a honey processing startup in Mavumbi town.Already, Asali Asili Enterprises has been showing prospects of lifting us from the economic doldrums that stuck since the Covid 19 pandemic struck.For your information, we have acquired…
