Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Malachi Motano The National Transport and Safety Authority (NTSA) has suspended operations of Memba, a public service (PSV) Sacco after the death of a female passenger. NTSA stated that the Sacco officials were summoned and appeared before the Authority and were told that the vehicles belonging to the Sacco will be subjected to a…
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…
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…
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…
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…
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…
By Sammy Chivanga The number of newly registered cooperative societies dropped by nearly a third in the financial year last June on the back of Covid-19 disruptions that made it difficult for applicants to submit required paperwork. Sector report shared by the State Department of Cooperatives shows that new registrations dropped to 846 or 32…
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…
By Roy Hezron Joseph ‘Joe’ Nyagah, a former minister and presidential candidate left behind a remarkable history of championing the co-operative movement before his demise on 11th December 2020 at Nairobi hospital. Nyagah, alumnae of Alliance High School and the University of Nairobi, was appointed the Minister for Co-operative Development during the Grand-Coalition Government formed…
Press Release On 4th November 2020, Metrotrans Sacco, one of the leading PSV transport Saccos operating in Nairobi received 45 new buses at Isuzu East Africa with financing from Co-op Bank in form of a lease worth Kes 225 Million. The lease will enable the Sacco to respond to increased demand in their existing routes,…
