Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Data recently released by Sacco Societies Regulatory Authority (Sasra) has revealed that 92,000 Sacco savers have savings of more than Ksh1 million. The number represents an increase of 29.6 per cent from the 71, 000 reported in 2021. It is also more, than double the 39, 000 accounts that were holding such amount five years…
Before I get to the core of this story, let me tell you about the amusing anecdote about a strange ‘doctor’ in the village where I grew up. I describe him so because some of the shenanigans he exhibited border on the absurd, if not criminal. You see Disco Matanga, for that was his name,…
Sacco leaders have been urged to use the appropriate technology to run Sacco operation so as to spur growth. Martin Kimani, an Associate Director in KPMG’s Technology Transformation Unit and a speaker at the forum, told the leaders that technology reaches more ground and keeps up with the ever changing business environment. Kimani said that…
Herman Mwashighadi Mwachia can truly attest to how Saccos are beneficial to its members. Mwachia, who is a member of Qwetu Sacco, says that the Sacco changed his life for the better. The retired primary school teacher acquired a loan of Ksh2.5 million from Qwetu Sacco which he used to build a modern permanent house…
The importance of Saccos as suitable vehicles for mobilising local savings and extending affordable credit to their members requires no belabouring. The impact of the Sacco movement on the country’s economy has over the years been hailed as significant and a success story in the region and beyond. Stories abound that some big Saccos are…
More than 12,500 farmers are expected to double their harvests once the first phase of the Lower Nzoia Irrigation project is completed as they will be able to do two seasons of rice a year. Irrigation Principal Secretary (PS) Ephantus Kimotho said farmers will get enough water by gravity when the Ksh3.8 billion project is…
Inadequate supply of affordable housing, high incidental costs, slow property registration and titling process and high cost of land for construction have been identified as some of the reasons most Kenyans are unable to own modern houses, a new report has shown. According to Kenya Mortgage Refinance Company (KMRC) 2022 Annual Integrated Report and Financial…
President William Ruto has assured cooperative sector stakeholders that his government will fully implement the National Co-operative Policy in plans to strengthen the multi-billion shilling sector. He said the movement has contributed immensely to national socio-economic development. “The government is determined to take appropriate measures to ensure full implementation of Sessional Paper Number 4 of…
Co-operative professionals and practitioners through their body the Kenya Society of Professional Cooperators (KSPC) have called upon the government through the State Department for Co-operatives to address the matter of timely data and information in cooperatives. The practitioners have further recommended for the establishment of an information and document portal with links to various users….
While Saccos have been in existence for years and being lauded as priceless savings and credit extension avenues, it now looks quite challenging to convince the youth to save in Saccos. The Sacco sub-sector Demographics Study Report of 2019 released by Sacco Society Regulatory Authority (SASRA), which carried an in-depth study on age and gender…
