Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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. The focus on boda bodas and women groups…
As cooperators troop to various venues across the country to celebrate the International Day for Cooperatives, commonly known as Ushirika Day locally, it’s important to look at what the day means for players in this industry. Ushirika day 2023 has a unique theme of Cooperatives: Partners For Accelerated Sustainable Development. The theme attempts to reflect…
More than 1,800 youth in Meru and Tharaka Nithi counties have received startup capital and kits worth Ksh60 million in a business incubation programme by Zoe Empowers that targets orphaned and vulnerable youths. Zoe Empowers is a non-governmental organisation that supports child headed families and orphans through business and vocational skills training. Speaking while issuing…
Young traders in Embu County have been challenged to form or join Saccos to qualify and access loans to enable them upgrade to become entrepreneurs. Embu County Director of Cooperatives David Muriuki cautioned the traders against underestimating the financial resources they mobilized daily, further urging them to save at least Ksh20 daily. “Saving in Saccos…
Hell broke loose during Sunrise Dairy Cooperative Society in Butali Chegulo ward, Malava constituency annual general meeting after members protested and called for the immediate arrest of staff and individuals who purchased their products and have refused to pay a debt amounting to Ksh218, 000. The members unanimously agreed to surcharge the debt to the…
The emergence of the Covid-19 pandemic three years ago compelled most Saccos to adopt technology so as to continue serving their members even as they iterated around new ways to survive and thrive. Digital consumption was at its all-time highest during the pandemic. Technology aided a number of operations in many industries across the world…
Cooperatives today have become very important drivers of personal financial growth and the route to member’s economic empowerment. Since the first cooperative society was formed in Kenya and its subsequent success, both the private and public sectors embraced cooperatives as vehicles to financial breakthrough. Cooperatives must adopt the best policies, bylaws and strategies because good…
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…
