Category: Co-op News

By Roy Hezron Public universities and other tertiary institutions have been accused of failing to remit members’ deductions to Saccos. The Sacco Societies Regulatory Authority (Sasra), in its annual report, says that the highest proportion of total non-remitted deductions are owed by public universities and colleges. With five deposit-taking Sacco societies whose membership are directly…

By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are increasingly turning their focus on motorcycle riders and women groups for new membership and uptake of products. Motorcycle riders, popularly known as boda bodas, are in particular seen as the fastest growing income group and many Saccos are coming up with targeted products for them….

By Martin Ruto Martin Kororia is not only a passionate teacher, but he also loves farming. He is currently doing well in onion farming, which he is now considering expanding.  He attributes his success to Trans National Times Sacco. It all started with a loan he got from the Sacco that he used to buy…

Only 10.5 per cent of the DT-Saccos’172 CEOs are below 35 years latest Sasra data shows By Sammy Chivanga Young people are conspicuously missing from essential Savings and Credit Cooperative Societies (SACCOs) positions despite making up nearly a third of the membership, raising questions about the succession structures in the vibrant sub-sector. An analysis by…

By Azael Masese Savings and Credit Cooperatives Societies (Saccos) must desist from investing members’ deposits or borrowing to put up rental or commercial buildings. Acting Cooperative Commissioner Geoffrey Njang’ombe noted that with the high interest rates regime, it makes no economic sense for societies to venture into the businesses. “This used to be a fashion…

By Sammy Chivanga Savings and Credit Cooperative Societies (SACCOs) are deepening digital services to conveniently serve customers as branches and Automated Teller Machines (ATMs) popularity drops. Many Saccos are now launching their e-banking services to enable customers to transact at the palm of their hands. Competition from other financial service providers such as banks and…

By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are now turning to a cocktail of reward schemes to recognise and retain big savers as well as encourage other members to increase savings despite the economic hardships. The cut-throat competition among Saccos and other financial service providers has given customers a large pool of options…

By Munene Maina Men dominate top management and leadership positions in Deposit-Taking Saccos new data shows. The Sacco Societies Regulatory Authority (Sasra) latest Sacco Supervision Annual Report, 2019 indicates men occupy 96.4 per cent of all chairmen seats in the institutions’ Board of Directors while women held 3.6 per cent of the positions. Men also…

COVID-19 is accelerating SACCOs’ digital transformation. Covid-19 caught many businesses by surprise. One of the most affected sectors by the lockdown and social distancing measures implemented by the government was the SACCO sector, since many of their operations and activities were conducted in person. The level of technology adopted varies from SACCO to SACCO, according…