Ariel Guarco, President International Cooperative Alliance. Photo/Courtesy

World Co-operatives Congress Day postponed

By Roy Hezron The 33rd World Cooperative Congress Day celebrations, which were to be held next month in South Korea, have been postponed due to the Covid-19 pandemic. The congress, which brings together all co-operative movements affiliated to the InternationalCooperative Alliance(ICA), has been re-scheduled to December next year. Seoul will still host the celebrations. The…

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Boresha Sacco CEO Dr Moses Chebor. Photo/File

Sacco leaders react to regulator’s call for mergers

By Simon Njane Savings and Credit Cooperative Societies (Saccos) leaders are expressing mixed reactions to the regulator’s call for mergers as deposits get skewed towards large entities. While leaders of various Saccos support the proposal by the Sacco Societies Regulatory Authority (Sasra) that Saccos should consider merging to avoid collapsing, they are calling for caution….

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Eliud Chepkwony, Jamii Sacco CEO.

Jamii Sacco unveils strong measures to boost business

The Sacco has restructured its operations, developing new products and bettered its digital platforms. By Ken Ondieki Jamii Sacco has remained resilient in the face of Covid-19 pandemic that has adversely affected the country’s social and economic status. The Deposit-Taking Sacco, has reviewed its business plan for the financial year 2020, scaled down on areas…

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Sacco members being served at the Registration Desk ahead of Bandari Sacco's 44th ADM.

Saccos report high liquidity even as Covid-19 strikes

By Sammy Chivanga When Covid-19 struck, it was expected that many Savings and Credit Cooperative Societies (Saccos) would face their biggest liquidity test. And as an increased number of Sacco members applied for consumption loans, Sacco leaders such as the Kenya Union of Savings and Credit Co-operatives Ltd (Kuscco) called for caution. But in a…

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Co-operative Bank Group MD Gideon Muriuki. Photo/Courtesy

Co-op bank named best bank in Kenya at EMEA finance awards

Press Release 19th October 2020 The Co-operative Bank has been named Best Bank in Kenya at this year’s African Banking Awards 2020 organised by EMEA Finance. This is the third time around, having won again in 2018 and 2019. The EMEA Finance Awards recognise financial institutions which, through their client focus and sound leadership, continue…

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

Universities, colleges yet to remit Sh2.86b to Saccos, says Sasra

By Roy Hezron Public universities and other tertiary institutions have been accused of failing to remit members’ deductions to Saccos. The Sacco Societies Regulatory Authority (Sasra), in its annual report, says that the highest proportion of total non-remitted deductions are owed by public universities and colleges. With five deposit-taking Sacco societies whose membership are directly…

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Boda Boda riders attending the launch of Imarika Sacco in Mtwapa. Photo/File

Saccos scramble for boda bodas, women groups

By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are increasingly turning their focus on motorcycle riders and women groups for new membership and uptake of products. Motorcycle riders, popularly known as boda bodas, are in particular seen as the fastest growing income group and many Saccos are coming up with targeted products for them….

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A woman at her farm in Nyalani Kwale County. Photo/Courtesy

Co-op chases away brokers in Kwale

By Collins Akong’o Farmers in Kwale County no longer worry of market or unscrupulous middlemen thanks to Kwale Pamba and Viazi Cooperative Society (PAVI). PAVI, which was formed in 2014, has enabled local farmers to participate in agricultural livelihood programmes initiated by Base Titanium Company. According to John Cooke, the programme manager, its membership has…

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Martin Kororia, a teacher and great beneficiary of onion and livestock farming.

How teacher used Sacco loan to venture into lucrative onion farming

By Martin Ruto Martin Kororia is not only a passionate teacher, but he also loves farming. He is currently doing well in onion farming, which he is now considering expanding.  He attributes his success to Trans National Times Sacco. It all started with a loan he got from the Sacco that he used to buy…

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

Youths take back seat in key Sacco positions

Only 10.5 per cent of the DT-Saccos’172 CEOs are below 35 years latest Sasra data shows By Sammy Chivanga Young people are conspicuously missing from essential Savings and Credit Cooperative Societies (SACCOs) positions despite making up nearly a third of the membership, raising questions about the succession structures in the vibrant sub-sector. An analysis by…

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