Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Michael Ochieng and his partner Esther Omcheni have co-owned Afritech, a print media investment since 1997 but the fortunes improved after the joined Universal Traders Sacco (UTS). They shared with this writer the sweet journey they have walked with UTS since they became members. “I came to know of the Sacco through one of its…
President William Ruto has reiterated that the national government is keen on supporting cooperative societies to improve the economy of the country.Speaking during the 101st Ushirika Day Celebrations at the Kenyatta International Convention Centre, the president said the government will work with cooperatives to improve livelihood of Kenyans.“My administration understands the importance of cooperatives. That…
Peter Kariuki is the Chief Executive Officer for Sheria Sacco, one of the leading tier 1 Deposit-Taking Saccos in the country. He speaks elaborately on his vision for the Sacco in an interview with our reporter. He talks about the Sacco’s expansion plan, achievements and challenges among other pertinent issues. Here are excerpts from the…
Order is now set to be restored in the Ministry of Agriculture and Livestock Development after seven regulations were drafted to promote the growth of the sub-sector in the country. The move targets areas that have, over the years, remained unregulated, affecting the growth of the sub-sector. Directorate of Livestock Policy and Regulations representative Dr….
The government is negotiating with banking institutions to streamline their lending packages to accommodate Small and Medium Enterprises(SMEs), which are thought to be the pillar of the country’s future economy. Cooperatives Cabinet Secretary Simon Chelugui said the government was consulting with banks to restructure and be more attractive to small and medium enterprises. Chelugui was…
Chief Executive Officers (CEOs) of various Saccos have revealed why they are averse to lending to Small and Medium Enterprises (SMEs), top among the reasons being their lack of verifiable information. During this year’s National Cooperatives CEO’s Workshop in Mombasa organized by the Co-operative Bank, the Sacco heads decried lack of adequate information about SMEs…
As the country’s hard economic times bite, boda boda riders, farmers and traders from the Western region have been asked to join Saccos and invest in the future to cushion themselves against the current cash crunch.Speaking to journalists in Busia town, Faridi Sacco chairman Godfrey Saidi said many boda boda riders are facing a lot…
Machakos County Chief Officer (CO) of Cooperatives Benedict Ngumbau has urged officials of cooperative societies to uphold integrity and abide by the Cooperative Societies Act to ensure the survival of their cooperatives.Speaking after a visit to Komarock Housing Cooperative Society, the officer pointed out that most cooperatives fail due to mismanagement.“Cooperatives should ensure they hold…
23 years ago, Stanley Joseph Njue and a few business people from Embu County came together to form a self-help group, whose monthly contributions started at Ksh100 but now stands at Ksh1,000 monthly. The self-help group has now matured into Mediators Savings and Credits Cooperative controlling a circulating capital of more than Ksh80 million. It…
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…
