Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
The proposed Co-operative bill will see the transformation of Co-operatives in the country into a four-tier structure of primary, secondary, co-operative federations and apex co-operatives. According to the Draft Co-operatives Societies Act 2021, Primary Co-operatives, which may admit into its membership a corporate or an unincorporated person, shall include producer, housing, Saccos, savings and investment,…
Good corporate governance is a system by which an organization is directed, controlled and held accountable by its shareholders and stakeholders. In this case, good corporate governance goes beyond compliance with basic legal requirements. It provides a framework on which a culture of business integrity, accountability and standardized best business practices are established. The Sacco…
Githunguri Dairy and Community (GDC) Sacco has decried the double taxation that they are subjected to by the government, calling on policy makers to review the relevant laws that have seen them paying duplicated duty on loans advanced to members. According to Sacco chairman Joseph Gitau, they are taxed on members’ income and the same…
A 2020 Survey conducted by the State Department for Co-operative Development revealed that there are 5,723 dormant cooperatives, which are at risk of losing its assets to unscrupulous officials. Kenya Society of Professional Co-operators (KSPC) has called on the government to develop policy guidelines that will help to safeguard assets of cooperatives that may fall…
Many Saccos have embraced Corporate Social Responsibility (CSR) which entails operating in an ethical and sustainable way and dealing with environmental and social impacts. This means a careful consideration of human rights, the community, environment, and society in which it operates. It’s incredibly important that a cooperative society operates in a way that demonstrates social…
Farmers in various cooperative societies across Machakos County stand to gain following the huge allocation for the agriculture sector in the county’s Ksh14.75 billion 2023/2024 budget proposal. County Finance Executive Committee Member Onesmus Kuyu said agriculture was allocated Ksh904 million to enable farmers access affordable agricultural inputs, add value to their produce and enhance marketing…
Rose Wambua, a former senior banker at the Cooperative Bank of Kenya, has advised livestock farmers to have farm insurance covers for their cattle. Wambua said the move ensures farmers who lose their animals due to drought receive compensation to either allow them to restock faster or invest in other productive activities. “Livestock insurance aims…
Cooperative movement stakeholders are gearing up to celebrate the 101st International Day of Cooperatives (Ushirika Day) on July 1, 2023 at the Kenyatta International Convention Centre (KICC). The event which is themed “Cooperatives for Sustainable Development” will be graced by President William Ruto as the chief guest. Since 1923, cooperatives from around the world have…
