Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Azael Masese The negative cash accumulation among Deposit Taking (DT) Saccos continued to rise unabated to reach a high of Ksh. 48 billion in 2021. Though some players turned to retained earnings to bridge the deficit, some turned to external borrowing with SACCO Societies Regulatory Authority (SASRA) warning that they were subjecting themselves to…
By Azael Masese Saccos defied a tough business environment posed by Covid-19 to report growth in three market portfolios; asset base, deposits and loan portfolios in the 2020/2021 Financial Year (FY). The finding was revealed in the Sacco Supervision Annual Report, 2021, released on August 3, 2022. SASRA Board chairman George Murathe said the growth…
By John Majau The Gankumbu Dairy Farmers Group in Tharaka Nithi County has received a donation of 1,000 packets of free semen, a milk ATM machine and milking cans from the Ministry of Agriculture. Delivering the items to 2,500 farmers in Chuka town recently, Agriculture Cabinet Secretary Peter Munya’s personal assistant Kofia Kaunani said the…
By John Majau Avocado farmers across the country have been urged to harvest mature fruits in order to boost the product’s international market. Addressing farmers at Kaguru in Imenti South, the Avocado Society of Kenya CEO Earnest Muthomi said the Kenyan avocado market has greatly been affected by low quality produce caused by premature harvest….
By Azael Masese Former President Uhuru Kenyatta has asked Saccos to be a major player in the country’s domestic debt market; raising a raft of concerns in the sector should it take up this lending position. The president’s proposal comes at a time when the government is burdened with foreign debts with a large chunk…
By Staff Reporter The Sacco Societies Regulatory Authority (SASRA) withdrew the licenses of four deposit-taking Saccos by close of December 2021. Effectively, the four are barred from conducting deposit-taking business in 2022. Affected Saccos are Nyamira Tea Sacco Society Ltd, Uchongaji Sacco Society Ltd, Nanyuki Equator Sacco Society Ltd and Comoco Sacco Society Ltd. SASRA…
By Ben Oroko Smallholder coffee growers drawn from the two Gusii counties of Kisii and Nyamira can now directly sell their coffee produce to consumers in South Korea without going through brokers in the coffee marketing chain. This comes after the giant Gusii Coffee Farmers Co-operative Union (GCFCU), an umbrella of 28 primary coffee co-operative…
By Mutuvi Janet Bungoma County Commissioner Samuel Kimiti has urged boda boda riders from the region to join Saccos to build themselves economically. Speaking to riders in his office Kimiti said that Saccos will help them grow and cater for themselves without difficulties. “Join Saccos and save so as to qualify for loans to finance…
By Sacco Review Reporter Kenya’s vibrant cooperative sector will gain immensely if the promise by President-Elect William Ruto to reduce the price of fertilizer is implemented. While speaking in Meru over the weekend, Ruto hinted at a possible reduction of fertilizer price from the current Ksh.6,500. “I have had meetings with those at the Ministry…
By David Kipkorir Nafaka Sacco has joined in the long list of Saccos rebranding and is set to rebrand as it seeks a bigger pie in nationwide membership drive. “Through this rebranding, we have embarked on an exciting adventure to increase our visibility and accessibility countrywide,” said Nafaka Sacco chairman Mr Raymond Kipkoech Mwarey. Speaking…
