Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By George Otieno Cooperative Commissioner David Obonyo has called for a paradigm shift on how Saccos conduct their businesses, warning that relying on the check off system is no longer tenable. Most Saccos, Obonyo stated, were employee based Saccos that depended on a check off at the end of the month to give loans that…
By George Otieno Mombasa County Cooperative Director Nelson Nyoro has pointed out that the justification of Saccos’ existence is their ability to satisfy members’ needs. Speaking during Kenya Teachers Sacco Associations (KETSA) conference in Mombasa aimed at discussing the sustainability of Saccos and the Sacco sub sector, Nyoro stressed that the sustainability of the association rested…
By George Otieno Kilifi County Deputy Governor Flora Mbetsa Chibule has stressed on the need to support cooperatives as key enablers of Kenya’s improved social and economic growths. Cooperatives, she said, cut across all the sectors of the economy namely agriculture, mining, housing, transport, and manufacturing. In addition, they are known worldwide as instruments of…
By Tsozungu Kombe Kenya Teachers Sacco Association (KETSA) is set to change name to become a Federation after a pending Bill in Parliament has been approved. Speaking during KETSA Annual Delegates Meeting (ADM) held at Flamingo Beach Resort in Mombasa County recently, KETSA national chairman Robert Njue said that a pending bill is awaiting approval in parliament…
By Benedict Ng’etich Imarisha Sacco has launched new tailor-made products to help new members achieve their financial dreams. Sacco Chairman Mathew Ruto noted that the products include the take off loan which caters for newly employed people and does not require one to have deposits. The repayment period is 84 months and the applicant should…
By Our ReporterMembers of B -Smart Sacco Limited are demanding to be refunded their savings after the Saccoreportedly failed to issue them with loans and blocking them from withdrawing their savings.The shareholders said the Sacco has not been giving them loans for two years now and hasdeclined to give them back their savings.The members who…
By Peter Otuoro Tower Sacco members has elected Patrick Thogo as their new director in a competitive election which was held at Olkalou Primary School in Nyandarua County. Thogo got 222 votes against his close competitor former director James Mwangi get 219 votes. The new director promised to initiate a mass recruitment of new members…
By Roy HezronVihiga County Government has committed to support Savings and Credit Co-operatives (Saccos) throughestablishment of a revolving fund.Speaking during a stakeholders meeting to discuss the performance of the Vihiga County Traders Saccoin December 2022, the County Governor Dr. Wilber Ottichilo hinted that the Sacco, which mainly drawsits membership from micro and small traders, would…
By George Otieno All Cooperatives will in future become federations and subscribe to an apex body, group managing director of the Kenya Union of Savings and Credit Cooperatives (KUSCCO) George Ototo has hinted. A restructured Cooperative sector will ensure sustainability and viability as it will solely depend on the subscription of the cooperative members. Ototo…
By Agnes Orang’o Komarock Housing Cooperative Society members have been urged to avoid unnecessary land sales and instead invest on the lands to secure their future. Speaking to members during one of the society’s meetings, the society’s chairman Bernard Maembe expressed concern over the increased land sales. “Most of you inherited your land from your…
