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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Boda-boda riders urged to join Co-operative Societies in Taita Taveta

By Michael Oduor Over 6,000 Boda-boda riders in Taita Taveta County have been urged to register their association with available Deposit Taking (DT) Saccos in a bid to increase their chances of development through the various loan services provided to members by these co-operative societies. Speaking to Sacco Review, on phone, Taita Taveta Boda-boda Riders…

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