Co-op News - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

50 women from Mombasa and Kwale complete financial literacy, business management training

Sacco ReviewJanuary 9, 2025January 9, 202507 mins

Fifty women from Mombasa and Kwale counties have successfully completed a three-month training program in Financial Literacy and Business Management. The training, part of the Empower Her initiative, was sponsored by Base Titanium in partnership with the Taji Langu Foundation. The program aimed to empower small-scale women entrepreneurs by providing them with essential business skills…

Afresa Sacco boosts Kisumu’s Boda Boda sector with financial support

Sacco ReviewJanuary 9, 202505 mins

Kisumu County’s boda boda sector has received a major boost as Afresa Sacco has stepped in to support them with their financial needs. Members will now be able to save and borrow with low interest rates. Afresa Sacco, which has been in operation for more than two years, as stated by the chairperson of the…

Kitui Women’s Rep supports local women groups with valuable donations

Sacco ReviewJanuary 8, 202505 mins

Some women’s groups from across Kitui County have benefitted from water tanks, catering equipment, motorcycles, tents, and chairs worth millions of shillings, donated by the Kitui County Women’s Representative, Dr. Irene Muthoni Kasalu. The donation ceremony took place recently at Kauwi Primary School in Kitui West District within Kitui County. The Makueni County Women’s Representative,…

How financial communication inspires co-op stakeholders make informed decisions

Sacco ReviewJanuary 7, 202506 mins

Financial communication, which refers to the process of disseminating financial information to stakeholders such as investors, analysts, and the general public, is increasingly becoming an important aspect in the corporate world. It encompasses a wide range of activities, including the preparation and release of financial statements, investor relations, and financial reporting. It is important to…

Saccos cautioned against paying unrealistic bonuses and interest

Sacco ReviewJanuary 7, 202504 mins

The Ministry of Cooperatives and Micro, Small, and Medium Enterprises (MSME) Development has cautioned SACCOs against paying unrealistic bonuses, dividends, and interest, as such cash outflows could cause liquidity challenges if not properly managed. Through a circular sent to SACCOs by the State Department of Cooperatives, the Office of Commissioner David Obonyo stated that the…

Why Saccos should embrace a co-operative business model

Sacco ReviewJanuary 7, 202508 mins

The primary purpose of a Sacco is to serve the community in which it operates. This is based on the understanding that co-operatives are not-for-profit enterprises, as the majority of the profit goes toward fulfilling the social, economic, and cultural needs of the community in which they operate. It is obvious that when a co-operative…

Nakuru County Government launches sacco digitization initiative

Sacco ReviewJanuary 7, 2025January 7, 202504 mins

The County Government of Nakuru has rolled out a program to digitize the business models of Savings and Credit Cooperative Organizations (SACCOs) to make their operations more efficient and transparent. County Cooperatives Chief Officer Kibet Kurgat said the County had initiated a training program for Sacco officials on the digitization of their operations, aimed at…

Governor Lenku condoles with family of fallen sacco founder

Sacco ReviewDecember 11, 202402 mins

Kajiado County Governor, Joseph ole Lenku, has condoled with the families of Obomo Sacco, a savings and credit cooperative that was founded by Mzee Zablon Nyakeruma who passed on last week. Governor Lenku said Mzee Nyakeruma was not just a pioneer but a visionary leader who left an indelible mark in Kajiado County. He said…

Yetu Sacco sets aside a historical Sh.1.4 billion as operational budget for the next financial year

Sacco ReviewDecember 7, 2024December 7, 202404 mins

Yetu Sacco has set aside a mouthwatering operational budget of Sh 1.4 billion for it next financial year. The board of management came up with the historical 2025 operational budget which is slightly higher than the previous year that had hit a billion mark for the first time since its inception. The budget estimates were…

Government plans to finalize Cooperatives Bill to strengthen governance and legal collaboration

Sacco ReviewDecember 6, 202405 mins

The government is planning to finalize the Cooperatives Bill that will enhance governance and legal collaboration between the national and county governments. The ministry is relooking at the Sacco Societies Act to be amend and establish a central liquidity facility and shared services platform to streamline the financial services. According to the CS Oparanya, Saccos…