Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Saccos have moved into a second wave of rebranding, in an apparently new order that is adding the words DT Saccos (Deposit Taking-Saccos) on their names. What is the rationale of this craze? How does this change of identity impact in the industry? Is it a way of DT Saccos delinking with other societies such…
The government has identified cooperatives as the vehicle through which it will achieve its transformational objective of improving lives and promoting economic growth. Cooperatives Cabinet Secretary (CS) Simon Chelugui said the national transformation agenda will focus on several key areas such as food security, financial inclusion, nutrition, infrastructure, production, education, healthcare and economic development. He…
If a draft Bill by the Kenya Society of Professional Cooperators (KSPC) is passed into law, no person will be allowed to practice or provide cooperative services unless they have been issued with a valid practising certificate by KSPC. According to the draft law, a copy of which Sacco Review has seen, KSPC will be…
Saccos are increasingly winning county government staff into the cooperative movement but are dragging their feet on investing in multiple sectors at grassroots level in order to deepen their relevance in the economy. The lack of properly structured internal policies for making targeting investments is standing in the way of the pace of their integration…
Saccos are dragging their feet on diversifying their investments into new areas such as health and education as the high demand for loans among members puts pressure on their wallets. Many Kenyan Saccos are stuck on the primary objective of enabling members to save regularly so as to create a pool of funds from where…
Caritas Microfinance Bank has opened a new branch in Nakuru city, in a colorful ceremony attended by Nakuru Deputy Governor David Jones and Nakuru Catholic Diocese Bishop Rt. Rev. Cleophas Oseso. Kones promised that the county government will continue to create a conducive environment to attract more investors, especially financial institutions, to provide more services…
The government plans to revive agricultural extension services through the Agricultural and Livestock Extension Services Bill, 2022, which when passed into law, will establish the Agricultural and Livestock Extension Service (ALES). The corporate body will be mandated to enhance the competitiveness of the agriculture and food industries and increase their long-term productivity. It doing this,…
Disputes in co-operative sector will now be handled by the Co-operative Court which will stand on its own aside from the existing Co-operative Tribunal, if the draft bill will be enacted into law. The Draft Co-operative Bill, 2021 which if enacted into law will repeal the long-term Co-operative Societies Act which was enacted in December…
The urge to splurge out cash on secondary needs is slowly driving the youth away from saving. Savings are considered critical funding sources, which enable governments, institutions and individuals undertake investment projects. Harrison Song’e, the chief executive of Airports Sacco regrets that the younger generation is mostly driven by spending more than savings. This, he…
The National Cooperative Policy that has since transmuted into Sessional Paper No 4 of 2020 advocates for, among other things, the adoption of self-regulation by the cooperative sector as it grapples to find its space in the highly competitive business environment. Self-regulation is intended to create a paradigm shift in the manner cooperative management is…
