Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Obegi Malack obegimalack@gmail.com Kenyans will now access Hustlers Fund after launch by President William Ruto on Wednesday at Green Park in Nairobi City. Hustler Fund borrowers will use *254# to access the fund, they will access the fund from leading network telcos Safaricom, Airtel and Telekom. To be eligible for the fund one must…
By Robert Nyagah Members of various university-based Saccos are cash strapped and unable to borrow from their Saccos as their employer failed to remit their deductions that have accumulated to a whopping Ksh4.2 billion. The managements of several of the Saccos have been struggling to give their members loans, given that they have no cash…
By Peter Otuoro Cooperatives Cabinet Secretary (CS) Simon Chelugui has said that over Ksh2 billion has not been remitted by various state and private organizations to Saccos on behalf of their employees. Chelugui said the government will put strict measures to ensure all deductions on members’ salaries are remitted without delay, be they from public or…
The first Loan Product under the Fund (Personal Loan) will be rolled-out by the end of November 2022. The draft regulations of the Fund has pointed out that Saccos can also apply for loans from the Fund as financial intermediaries for on-lending to a business person or micro, small and medium enterprises. By Hezron Roy …
By Kage Njoroge Cooperative societies have been touted as the key pillars of economic development as they have the ability to mobilize citizens to pool financial resources to achieve set objectives. Alex Irungu, the retired long serving CEO of Mentor Sacco, argued that Saccos are crucial drivers of social and economic progress with multiple benefits…
By Azael Masese Nairobi County Director of Cooperatives Dolphine Aremo has urged area residents to join cooperative societies, identifying them as valuable investment tools to enabling them achieve their financial goals. Speaking to Sacco Review at her Nyayo House office, Aremo said Nairobi is home to some of the best performing and profitable Saccos with…
By Obegi Malack obegimalack@gmail.com The government’s Financial Inclusion Fund commonly known as Hustlers Fund program which is set to be launched at the end of this month will not require any official registration. Co-operative and Micro, Small, and Medium Enterprises (MSMEs) Cabinet Secretary Simon Chelugui has clarified that Kenyans seeking to access the funding will…
By Tsozungu Kombe Imariki Sacco, formerly Kilifi Teachers Sacco, continues to improve the livelihoods of its members through the variety of savings and loan products it offers. The Kilifi based Sacco has grown to be one of the best saccos in Kenya. Zafarani Mkawasi Chisenga, a member of Imarika Sacco, and a former chairperson of…
By Roy Hezron Stakeholders in the cooperative sector have applauded the government’s move to create a full-fledged ministry for Co-operatives and Small and Medium Enterprises (SMEs) development stating that the sector more so Savings and Credit Cooperatives (Saccos) is best placed to roll out the ‘Hustler Fund’. The Co-operative Bank of Kenya Group Managing Director…
By staff reporter Qwetu Sacco has turned a new page as an important sector player by launching the new Qwetu Sacco Plaza in the heart of Voi town, a key milestone in their quest to become a critical financial solution provider in the coastal region and the country at large. Now, its more than 50,000…
