Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Technological advancement is fast-shaping operations and performance in the Sacco and wider financial and banking sector, lessening inconveniences and the high cost of opening and running physical branches. A spot check by Sacco Review has established that more Saccos prefer mobile banking to agency banking due to convenience for members and more profit to the…
The Cooperative Bill 2023, recently approved by the Cabinet, will penalize employers who fail or delay to remit employees’ deductions from salaries to Sacco accounts within 7 days. The Bill proposes that employers who fail or delay to remit the deductions shall pay the amount deducted with compound interest accrued at a rate of not…
Sheria Sacco Society Ltd has introduced a new loan product christened ‘Dividend Advance Loan’. “We are thrilled to inform you about the introduction of our new financial product called the ‘Dividend Advance Loan’. This initiative is a testament to our dedication to offering convenient and easily accessible financial solutions,” read a memo signed by Director…
The Co-operative University of Kenya (CUK) has announced that its 8th Graduation Ceremony will be held on December 1, 2023, at the main campus in Karen, Nairobi. According to the Registrar of Academic Affairs, David Boge Otiende, the graduands will be students who have fulfilled the requirements for the conferment of degrees and award of…
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A team of top CEOs of Savings and Credit Co-operative Associations (SACCAs) drawn from across USA, Europe and Canada, who are in the country for the Inaugural ACCOSCA International CEOs’ Summit which ends on November 11, have called on Kenyan Saccos to strive to meet the needs of their members as a pivotal strategy towards…
Anxiety is brewing among staff at the Standard Media Group as word spreads that Network Sacco, which directly deducts monthly contributions from their salary, is facing severe financial difficulties. The Sacco membership, which is drawn from the editorial, management and other departments, has experienced salary delays attributed to cash flow issues occasioned by a reduction…
Uasin Gishu Governor Jonathan Bii has said that his administration will continue providing financial support to cooperatives in the region. He said that cooperatives are one of the sectors with great potential to employ a large number of jobless youth. While speaking during a forum that brought together women in Cooperatives and MSMEs in Eldoret,…
The co-operative movement in Kenya is playing a vital role in the realization of the government’s Bottom-Up Economic Transformation Agenda. This is according to Cooperatives and Micro, Small, and Medium Enterprises (MSMEs) Development Cabinet Secretary (CS) Simon Chelugui, who praised the sector’s role in economic growth, alleviating poverty and advocating for social inclusion. Speaking in…
The concept of Savings and Credit Cooperative Societies (SACCOs), which have today become an essential part of Kenya’s financial landscape in promoting financial inclusion and empowering communities by providing access to affordable financial services, has a rich history traced to the colonial era. SACCOs started with the formation of agricultural cooperatives aimed at providing financial…
