Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
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…
Following an increase in hacking in the country, attributed to massive tech job layoffs, which have in recent years plagued many enterprises, organizations have been urged to convert the negative energy of hackers into positive energy by creating opportunities for them. As a result of increased cyberattacks and ransomware, many institutions have been grappling with…
A recent revelation that a dead auditor certified the financial statements and accounts of the now financially crippled Kenya Union of Savings and Credit Cooperative Society (KUSCCO) is raising questions on whether or not members of any Society should trust the opinion and audited accounts presented by these esteemed professionals. It also raises the lid…
Management committees running various coffee cooperative societies in Ukambani region have been cautioned against mismanagement and embezzlement of farmers’ money from the coffee proceeds. Cooperative CS Wycliffe Oparaya said on Thursday that the rampant reports of numerous cooperative societies in the constituency sinking into huge debts from financial institutions were worrying. The CS who addressed…
The Kisumu sugar belt union now wants cane farmers to have more say in making of decisions affecting cane farmers. The members said that the composition of farmers in various committee was too minimal to make any meaningful impact. Union chairman Zedekiah Otene said more farmers should be incorporated in the pricing committee since they…
The Machakos Youth Empowerment Program (MYEP) will enroll 1500 youths in July following successful completion of training of the inaugural cohort of 1000 youths in April. Machakos County Governor Wavinya Ndeti said the program has attracted Ksh20 Million sponsorship from the Kenya Commercial Bank. Speaking at AIC Katoloni in Machakos on during a fundraising event…
Traders at Gakoromone market, in Meru County are calling for the election of new leaders, alleging corruption by the current leadership. They have raised concerns over disbursement of empowerment funds that were released by the government a few weeks ago. The bitter traders also raised questions on the formula and methodology of distribution, citing unfairness. “We…
Muguka farmers in Embu County have a reason to smile after a bill that threatened to strip the crop of state protection was dropped following the intervention of Deputy President Kithure Kindiki. The proposed amendment to the Crops Act 2025, introduced by Kilifi North MP and National Assembly Majority Whip Owen Baya, aimed to delist Muguka from…
Kenya loses an estimated Ksh100 billion annually to counterfeiting and illicit trade the Anti-Counterfeit Authority (ACA) has revealed. ACA’s Deputy Director-Research and Policy, Henry Maina, said statistics indicate that the government revenue loss was estimated at Ksh129.72 billion and Ksh153.1 billion in 2017 and 2018, respectively. According to the National Baseline Survey on Counterfeit and…
