Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Joyce Wambui African credit unions had the largest increase in membership in 2018 with a 21 per cent jump from 2017 according to World Council of Credit Unions last year Statistical Report. Globally the membership stands at more than 274 million with a 9.38 per cent penetration. The report also showed that there were…
By Achola Mathews Business people and members of Saccos have been cautioned against agreeing to guarantee loans for people they do not know well. According to the lending laws, a guarantor is responsible for any loan recovery in case the client does not honour the terms of payment agreed upon at the time of lending….
By Enock Kipturgut A Korean investor Reverend Cha Bo Yong is set to put up a Sh 70 million coffee milling factory that will benefit Tugen Hills Farmers’ Co-operative Society members. The society Chairman Mark Yatich noted that the factory is a landmark project that will empower coffee farmers in Baringo County and beyond besides…
By Staff Writer Bingwa Sacco has continued to expand its reach countrywide. The financial institution that has embraced information and communication technology in service delivery in September last year opened its 19th branch in Kagio town. The Sacco has consistently increased its presence in Kirinyaga County and surrounding regions. It also has presence in Nairobi…
By Correspondent The process to revive Wanjohi Co-operative Society has begun Nyandarua County Executive Committee Member for Trade, Industrialization and Cooperative Raphael Njui has said. Njui met with a group of investors from Ziara Dairies at the society who will revamp the society. The co-operative will receive milk coolers and is expected to start milk…
By Tsozungu Kombe African Confederation of Cooperatives Savings and Credit Associations (ACCOSCA) has established Africa Co-operative Development Fund (ACDF) to support programmes and activities in the co-operative movement. Speaking during the 20th Annual SACCA Congress in Mombasa County, ACCOSCA Chairman Cambridge Mdlalose said the organization has also been reaching members through african development educators programme….
By Jackson Okoth Economists are already projecting tougher times for Kenya’s economy this year. But even with grim prospects and gloomy statistics, the resilient Co-operative industry is putting on a brave face. Latest figures from Sacco Societies Regulatory Authority (SASRA) databases indicate that Kenya’s Sacco Sub-sector holds total assets worth more than Sh 442.3 billion…
Legal limitation has increased Saccos’ loan portfolio risks By Jackson Okoth The process of blacklisting Sacco loan defaulters by Credit Reference Bureaus (CRB) will soon become mandatory. This is as soon as the Sacco Societies Act is amended to allow societies to share both positive and negative information of their members with the CRBs. These…
By Tsozungu Kombe The Government intends to ensure that co-operative societies become tools for social and economic development. This includes promotion of inclusivity and improved livelihoods for all through participation in the Big 4 Agenda. Speaking during the the 20th Annual SACCA Congress held in Mombasa County, Cabinet Secretary for Industry, Trade and Cooperative, Peter…
By Munene Maina Saving and Credit Co-operative Societies (Sacco) still command the lead in offering highest interest on savings and dividends to members annually, latest industry report shows. The Sacco Supervision Annual Report, 2018 released by Sacco Societies Regulatory Authority (SASRA) in August this year noted that Deposit-Taking (DT) Saccos paid an interest on the…
