CBK Governor Patrick Njoroge. Photo/File

CBK leverage Saccos loan default at 8-year high

By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are facing the biggest stability test because of hardship caused by the Covid-19 pandemic. A new Central Bank of Kenya report that sheds light on the health of multiple sectors of economy shows that non-performing loans (NPLs) ratio for deposit-taking (DT) Saccos jumped to 9.12 percent…

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Geoffrey Njang'ombe, Commissioner for cooperatives award delegate from Muranga who recruited 42 members into Hazina Sacco. Photo/File

You will have to be certified to run a cooperative society

By Roy Hezron Current cooperative chief executives have to join the Kenya Society of Professional Co-operators (KSPC) to obtain professional certification. Speaking to Sacco Review, KSPC acting Chief Executive Symon Mburia urged cooperatives CEOs and managers to register with the organisation. “All serving co-operative officers and managers of co-operatives are eligible for membership as associate…

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Geoffrey Njang'ombe, Commissioner for cooperatives award delegate from Muranga who recruited 42 members into Hazina Sacco. Photo/File

Mergers will bring stability in co-ops, says Commissioner

By Roy Hezron Smaller co-operatives have been encouraged to come together to enable them enjoy economies of scale. Commissioner for Co-operatives Geoffrey Njang’ombe told Sacco Review in a recent interview that Sacco mergers is nothing new, saying it is anchored in the law.  “We encourage small entities to merge in order to expand their horizon…

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Geoffrey Njang'ombe, Commissioner for cooperatives award delegate from Muranga who recruited 42 members into Hazina Sacco.

Cooperative policy implementation task force to be in place soon

By Roy Hezron The process of establishing the taskforce for the implementation of the National Co-operative Policy is at an advanced stage.   According to Co-operative Commissioner Geoffrey Njang’ombe, letters asking the stakeholders to appoint representatives to the taskforce have been dispatched. “We have sent out letters to the main stakeholders to appoint representatives in…

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SASRA CEO John Mwaka (left) exchanges pleasantries with Kieni MP Kanini Kega. Photo/File

Most Sacco members are below 50, SASRA survey reveals

By Roy Hezron Majority of members in deposit-taking Saccos in the country are between the ages of 36 and 50 years. They account for 28.8 per cent, or 1,380,784 members, according to a survey by Sacco Societies Regulatory Authority (SASRA). Of these, 833,512 are men, 514,752 are women while 32,520 are of undisclosed gender. The…

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CBK Governor Patrick Njoroge. Photo/File

CBK: Saccos loan default hits 8-year high

By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are facing the biggest stability test because of hardship caused by the Covid-19 pandemic. A new Central Bank of Kenya report that sheds light on the health of multiple sectors of economy shows that non-performing loans (NPLs) ratio for deposit-taking (DT) Saccos jumped to 9.12 percent…

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