Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Murang’a County has unveiled more than Ksh.20 billion worth of investment-ready opportunities in the agriculture sector, setting the stage for a major agribusiness investment in the country, in a bid to attract investors. The announcement was made during a high-level pre-conference luncheon jointly hosted by the Kenya Development Corporation (KDC) and the Ministry of Investments,…
A number of rich, mature, and well-established Savings and Credit Cooperative Societies (SACCOs) are busy constructing their own ultra-modern head offices, moving away from rented premises, and getting their own office space. The idea behind this move by aging SACCOs to set up their own nerve centers is driven majorly by the desire to support…
Donkey population has reduced considerably and the situation is expected to worsen if nothing is done to protect the endangered animals, this is according to Africa Network for Animal Welfare (ANAW). The drop in number of donkeys is due to illegal slaughtering of the animals, the demand for their skins is still high and also…
In a landmark achievement for gender equity and inclusivity, the National Cooperative Gender Platform (NCGP) has successfully completed its validation process, marking a significant milestone in the cooperative sector. This development, announced recently, underscores a growing commitment to ensuring that cooperatives—long celebrated for their democratic and community-driven ethos—become equal playing fields for all genders. The…
The Sacco Societies Regulatory Authority (SASRA) has expressed concerns that while credit scoring has immense value, SACCOs have been slow to adopt credit referencing fully, creating gaps in credit decision-making. The regulator also points to challenges in implementing effective credit-scoring systems, which have hampered responsible lending and long-term financial stability. According to the latest SACCO…
As Kenya strides into a transformative phase of its economic landscape, the Cooperative Bill 2024 has emerged as a pivotal piece of legislation poised to reshape the country’s cooperative sector. The law before the Senate comes amid a backdrop of economic challenges and calls for reform. This bill promises to modernize governance, enhance accountability, and…
Kenya Union of Savings & Credit Cooperatives (KUSCCO) has proposed amendments to Section 19A of the Income Tax Act to create a more equitable and neutral tax framework for all cooperative societies in Kenya, regardless of their form The current Income Tax Act (ITA) in Kenya presents a differential treatment between cooperative societies that is…
Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises (MSMEs) Development, Wickliffe Oparanya yesterday distributed coffee seedlings in Vihiga County in an effort by the government to revive the coffee farming in the area, support smallholder farmers with resources, training, and financial assistance. Speaking at a farmers’ sensitization forum at Ebukanga Polytechnic in Vihiga,…
Metropolitan National Sacco members have welcomed the high court ruling that stated that commissioner of cooperatives has the power to investigate any Sacco where misappropriation, theft mismanagement and breach of trust by management occur. Judge Rosyln Abuli indicated that the commissioner of cooperative is permitted by law to carry out the investigation. The ruling means…
The Central Bank of Kenya (CBK) plans to put in an estimated Ksh 180 million into a Deposit Guarantee Fund (DPF), designed to provide a financial safety net for individuals and corporate entities that hold huge deposits in Deposit-Taking Savings and Credit Cooperative Societies (SACCOs). This yet-to-be-established fund is part of the latest reforms in…
