Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Kisii County Director of Cooperatives Pamella Mercy has asked cooperatives to amend their by-laws to embrace virtual services and comply with the Cooperative Societies Act. Speaking at Kisii Agricultural Training Institute during Gusii Youth Bunge Sacco ADM, the director pointed out that the advent of the Covid-19 pandemic forced some Sacco employees to work from…
By Ben Oroko The group lending model has increasingly become popular among Saccos and Micro-Finance Institutions (MFIs) in recent years. This is largely based on its ability to leverage on joint liability and increased loan repayments while promoting entrepreneurial spirit among borrowers. Group lending methodology is a unique financial service for low income entrepreneurs. To…
By Our Reporter As Public Participation on the contentious Finance Bill, 2023/24 enters homestreach, I am not certain whether the cooperative sector has submitted any Memoranda on behalf of the 15,000-strong membership. To the best of my knowledge, the cooperative sector hasn’t affiliated to KEPSA; yet that is where it rightfully belongs as part of…
The government has been urged to shelve the 2023 finance bill and introduce it later when the economy recovers. Meru Chamber of Commerce Chairman Joshua Kirimi Mungania said the bill will add extra burden to the already suffering Kenyans who are over taxed. He advised President Ruto to concentrate on the recovery of the economy…
Kewisco Sacco is in the process of building its own office block in Nairobi to reduce operational costs. Speaking during the 32nd Annual Delegates Meeting (ADM) held at the Nairobi National Park Club House, the chairperson Rebecca Kipchumba said the land had already been acquired and the Sacco was waiting for the processing of the…
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,…
Harambee Sacco is employing every strategy to ensure that they hit their 2025 target of 86,502 members, Sacco chairman Macloud Malonza has said. Speaking during the 52nd Annual Delegates Meeting (ADM) held at Safari Park Hotel, the chairman said the membership currently stands at 74,274 having recruited 6,276 new members in 2022. To help sustain…
Nafasi DT Sacco recently rebranded from Nafaka Sacco so as to open up the market through new products which target various sectors of the economy. Speaking during the rebranding and opening of the Sacco’s first branch at Shujaa Mall in Kayole, Sacco chairman Koech Mwerey said the new branch is a great milestone for the…
Aggressive marketing has seen Chai Sacco’s active membership grow by 27.9 per cent from 25,945 in 2021 to 33,184 in 2022, a consequence of a campaign that reduced dormancy from 9,131 to 707. Revealing this during the Sacco’s 50th Annual Delegates Meeting (ADM) at Safari Park Hotel, Chairman Boniface Ayub said this was a result…
The government has pledged to support the formation of Sacco Central, a platform which will see Savings and Credit Cooperatives (Saccos) borrow from each other to save them the trouble of going for expensive loans from other financial institutions. The platform will mainly assist Saccos to share data and do inter-Sacco lending the way inter-bank…
