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

MPs Directs Hustler Fund Department to Submit List of Defaulters

Sacco ReviewOctober 2, 202404 mins

Members of Parliament have instructed the Financial Inclusion Fund, popularly known as the Hustler Fund, to submit a comprehensive list of loan defaulters. The MPs under National Assembly Special Funds Accounts Committee want the committee to present comprehensive details of the defaulters. The Committee which met Principal Secretary Susan Mang’eni and Acting Chief Executive Officer…

Mediation Committee Meets to Consider Contentious Clauses of Sugar Bill

Sacco ReviewOctober 1, 202403 mins

The Mediation Committee on the Sugar Bill (N.A. Bill No. 34 of 2022) has started considering clauses of the Bill that are under mediation. The committee which is chaired by Emmanuel Wangwe (MP Navakholo) first considered sub clause 38 (6), which, if amended, will see the Members agree on the institution that will be in…

ACCOSCA: Cooperatives Bill 2024 will change the sector positively

Sacco ReviewSeptember 30, 202403 mins

African Confederation of Cooperative Savings and Credit Associations (ACCOSCA) Executive Director George Ombado has said that the Cooperatives Bill 2024 which is currently before senate will be the game changer in the country. Ombado who was speaking during a media interview said if the bill passes other countries will also be able to follow the…

Cooperatives Bill 2024 will be the game changer in the cooperative Sector, ACCOSCA Director says

Sacco ReviewSeptember 25, 202403 mins

African Confederation of Cooperative Savings and Credit Associations (ACCOSCA) Executive Director George Ombado has said The Cooperatives Bill 2024 which is currently before senate will be the game changer in the country. Ombado who was speaking during a media interview said if the bill passes other countries will also be able to follow the same…

Best SACCOs feted in 2024 Ushirika Day Award Ceremony

Sacco ReviewSeptember 23, 2024September 24, 202407 mins

Savings and Credit Co-operatives (SACCOs) in the country have been awarded for their good performance in the year ended 2023 in Award Ceremony and Luncheon for Ushirika Day celebrations held in Nairobi on Friday . Some of the Saccos Awarded include Kenya National Police Sacco that was awarded Best Managed Sacco in the country, Tembo…

6.8 million members borrowed over Ksh700 billion in Saccos

Sacco ReviewSeptember 17, 202403 mins

The membership in the country’s Savings and Credit Co-operatives (SACCOs) has increased from 6.42 million in 2022 to 6.84 million in 2023, borrowing over Ksh700 billion within a span of one year. According to the recently released 2023 Annual Sacco Supervision Report by SASRA the increase in the 357-Regulated Saccos translated to 6.57 per cent…

Mwalimu Sacco maintains top position in Kenya, Africa in latest report

Sacco ReviewSeptember 17, 202405 mins

Mwalimu National DT Sacco has maintained its top position in the country and in Africa as one of the Savings and Credit Co-operatives (SACCO) with the highest asset base in the latest supervisory report released by the country’s Sacco regulator. According to the recently released Sacco Societies Regulatory Authority (SASRA) 2023 Annual Supervision Report, Mwalimu…

Govt to aid Saccos to access more funding, Oparanya says

Sacco ReviewSeptember 13, 2024September 13, 202404 mins

The Cabinet Secretary (CS) for Cooperatives and MSMEs development Wycliffe Oparanya has revealed that the government is keen to help Saccos access capital by exploring avenues for increased funding and investment in the sector. Speaking during the 7th Annual Delegates’ Conference for Stima DT Sacco Society Ltd on Thursday, Oparanya urged sector stakeholders to work…

Public varsities, colleges owe highest non-remitted funds to SACCOs

Sacco ReviewSeptember 13, 2024September 13, 202403 mins

Public universities and tertiary colleges owed the largest proportion of non-remitted funds for SACCOs in 2023, a report by Sacco Societies Regulatory Authority (SASRA) has revealed. According to the Sacco Supervision Annual Report 2023 released this week, the institutions owed Ksh958.07 million which translates to 37 per cent of the total non-remitted funds. Subsequently, county…

Kisumu to host this year’s annual tourism week fete

Sacco ReviewSeptember 13, 202404 mins

The Governor of Kisumu County Professor Anyang Nyong’o has revealed that the county will be hosting this year’s Kenya Tourism Week and United Nations World Tourism Day. Nyong’o in a statement made recently expressed his excitement ahead of the prestigious event slated for September 23-27 and guided by the theme “Tourism and Peace.” He revealed…