Saccos driving innovation in home ownership

By Our Reporter While institutions offering financial services are in the vanguard of driving innovation, technology adoption, artificial intelligence and going digital, experts say it is time for financial institutions like Savings and Credit Co-operative Societies (Saccos) joined the effort to increase financial inclusion.  According to Ng’ang’a Mbugua, a Partner and Head of Content at…

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Adoption of Risk based lending has increased credit rating uptake

By Andrew Walyaula waliaulaandrew0@gmail.com Lenders in Kenya have gradually adopted the risk lending based mechanism, a move that has led to the rise of credit rating uptake. The Credit Reference Bureau (CRB) Regulation 2020 mandates lenders to use a customer’s credit score when appraising a credit application. Metropol CRB General Managing Director Sam Omukoko urged…

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Covid-19 pandemic disrupts registration of new cooperatives in Lamu

By Tsozungu Kombe Registration of new cooperative societies in Lamu County has been disrupted by the Covid-19 pandemic currently being experienced across the country, Sacco Review has reliably established. Speaking to Sacco Review from Lamu town recently, Lamu county Cooperative auditor, Mr. Nickson Baya disclosed that the registration exercise of new Saccos in the region…

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Central farmers buy mill, demand majority representation on Board

By Kamundia Muriithi and Kage Njoroge Coffee farmers in Kirinyaga County have sought to have majority representation in the Coffee Board of Kenya (CBK), under the proposed Coffee Bill 2021. The growers want to have their own make 80 percent representation at the board, and to have a coffee farmer as the chairman.                                     They told…

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SACCO

Sh125 billion liquidity boost for Saccos

By Sammy Chivanga Savings and Credit Co-operative Societies (Saccos) withdrawable deposits rose by Sh57.55 billion amid an environment of Covid-19 economic hardships, pointing to increased confidence of members in the stability of the sub-sector. Latest data from the Sacco Societies Regulatory Authority (SASRA) shows that withdrawable deposits—an equivalent of transactional deposits in the banking sector…

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