Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
A section of farmers in three Sub Counties of Kinango, Lunga Lunga and Shimba in Kwale County have started embracing forest cover restoration with eyes on carbon credit funds. Through the Restore Africa program that is implemented by several stakeholders including the Kwale County government and World Vision, more than 20,000 families have already been…
Ministry of Co-operatives and Micro, Small & Medium Enterprises (MSMEs) Development, State Department for Cooperatives has highlighted major coffee reforms achievements a head of Mt Kenya region five days tour, the region has majority coffee farmers. Among the major reforms by the Kenya Kwanza government include placing coffee reforms under the Office of the President…
A Foundation seeking to train the youth and Small and Medium Enterprises (SMEs) on entrepreneurship and financial literacy has been unveiled. Munyiri Africa Foundation (MAF) has embarked on a programme aimed at mentoring and imparting relevant knowledge and skills to the youth which will help hone their business skills and start and sustain their business…
Farmers in cane-growing areas have been urged not to elect misguided individuals in the upcoming Kenya Sugar Board zonal elections. Samuel Ongou, a board member at the Agriculture and Food Authority (AFA) and an aspirant for the Central Zone, stated that farmers have endured hardships for many years, and it is crucial to elect individuals…
