Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
A recently released Financial Sector Deepening (FSD) survey, which has the backing of the Central Bank of Kenya (CBK), has revealed that Small and Medium Enterprises (SMEs) are the worst-hit by debt crisis. The survey revealed that one in every six small scale business borrowers has defaulted on a loan in the past eleven months….
Unity Homes and Absa Bank Kenya have entered into an agreement to allow potential home buyers acquire houses in Tatu City through the affordable housing financing scheme. The collaboration will see the bank provide Kenya Mortgage Refinancing Company (KMRC)-backed mortgages with terms of up to 25 years. The price of modern apartments starts at Ksh5,950,000….
Traders in Kilifi county have been advised to apply for Wezesha Fund ( formerly Mbegu Fund ) from the county government to boost their businesses. Speaking during a public function held in Malanga village in Malindi sub county, Sokoke Ward Member of County Assembly ( MCA ) Thaura Mweni said the loans do not have…
The SASRA Sacco Supervision Report 2022 has revealed that total assets by the Sacco sub-sector grew by 11.79 per cent with those from Deposit Taking (DT) Saccos standing at Ksh763.50 billion while those from Non-Withdrawable Deposit Taking (NWDT) Saccos shot to Ksh126.80 billion up from Ksh116. 02 billion recorded in 2021. The increase reflects a…
Kenya Union of Savings & Credit Co-operatives (KUSCCO) National Chairman George Magutu has urged women and youth to vie for leadership positions in their societies to take them to the next level. Magutu said for many years, youth and women have been sidelined and they must be ready to take up positions, even that of…
Mentor Sacco Society Limited is set to auction a Ksh300 million property in Nairobi’s Ngara area belonging to Mugoiri Development Company Limited. This is after Commercial and Tax Division Court Judge Justice David Majanja, on August 24, issued the ruling in a dispute where the Company had filed a suit seeking to block the Sacco…
Kenya Union of Savings & Credit Co-operatives (KUSCCO) has marked its 50 years of existence with a share capital of Ksh2.99 billion in 2022 that had risen from Ksh2.81 billion previously, which represents a growth of 6.4 per cent. National Chairman George Magutu revealed this as he highlighted their achievements in the housing sector, where…
Dairy cooperatives in Kiambu County dominated the awards in this year’s International Day of Cooperatives, Kiambu chapter, held at Karuri Primary School grounds in Kiambaa Sub-county. Githunguri Dairy Farmers Cooperative Society, the third largest milk processor in the country, emerged the winner in large society’s category and was awarded as the best in value addition/innovation with diverse…
The Sacco Societies Regulatory Authority (SASRA) has reported that Kenyans cashed out Ksh30.8 billion of the money saved in Saccos in 2022. “This can be attributed to the high cost of living, which has resulted in members withdrawing their savings for consumption purposes,” said the report. The latest supervisory report also showed that withdrawable deposits…
Invest and Grow (IG) Sacco has unveiled its 2023-2027 Strategic Plan. Speaking during the launch at Kakamega County Golf Hotel today, Chief Executive Officer Peter Vuhyah said that the move has marked a significant milestone for the Sacco as they embark on a journey of growth, innovation, and service excellence. The Strategic Plan has seven…
