Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
A move by commercial banks to cut their lending rates after intense pressure from monetary authorities is attracting the attention of many financial services users. Do these latest cuts in the price of bank loans pose any threat to SACCOs, considered serious players in the lending business and Kenya’s financial sector? “This trend to lower…
Ms. Ndegwa, in an interview with SACCO Review, said that the use of credit scoring as an assessment tool when considering whether to give a loan product to a SACCO member is already happening, particularly where SACCOs are offering mobile loans. “Members apply for mobile loans on online platforms using the mobile app and the…
The culture of saving is not well entrenched in the country. Cancelled happiness is what comes to mind when one thinks about saving. The word saving itself conjures images of waiting in line, unnecessary delays and in most instances, outright denial. It is painful to subject oneself to the misery of depravation. This is idea…
In the picturesque green hills of Homa Bay County, washed by the cool breeze of Lake Victoria, the country last month converged for the 13th edition of the devolution conference. Governors, especially from counties that are rich in agriculture, hailed devolution as a game-changer in powering the agricultural sector and creating employment most prominently in…
An audit on the Agricultural Finance Corporation (AFC) has revealed systemic mismanagement, fraud, and operational failures that could cost taxpayers and farmers hundreds of millions. The findings, released by Auditor General Nancy Gathungu, paint a picture of a government agency in disarray, struggling to recover loans, manage payroll, and safeguard public funds. The review, covering…
The government of Kenya and Iran have agreed to establish a joint committee tasked with eradicating trade obstacles within 60 days, paving the way for the lifting of the ban on Kenyan tea exports to Iran. The agreement was reached during the 7th Session of the Kenya-Iran Joint Commission for Cooperation (JCC) held in Nairobi…
Savings and Credit Cooperative Societies (SACCOs) are being challenged to tighten their systems and take insurance covers on the back of rising cyber-attacks in the era of digital transactions. Cooperatives are increasingly gaining prominence among formal and informal workers and currently hold over Sh800 billion customer deposit—a sum that makes them a target of cyber…
Despite rapid advancements in digital banking, Kenya’s Savings and Credit Cooperative Societies (SACCOs) continue to prioritize opening brick-and-mortar branches—especially in rural areas where a significant number of their members, such as peasant farmers, reside. Annual reports for the year ending December 31, 2024 and outlooks for 2025 reveal that several dynamic deposit-taking SACCOs plan to…
The Sacco Societies Regulatory Authority (SASRA) has expressed concerns that while credit scoring has immense value, SACCOs have been slow to adopt credit referencing fully, creating gaps in credit decision-making. The regulator also points to challenges in implementing effective credit-scoring systems, which have hampered responsible lending and long-term financial stability. According to the latest SACCO…
In a landmark achievement for gender equity and inclusivity, the National Cooperative Gender Platform (NCGP) has successfully completed its validation process, marking a significant milestone in the cooperative sector. This development, announced recently, underscores a growing commitment to ensuring that cooperatives—long celebrated for their democratic and community-driven ethos—become equal playing fields for all genders. The…
