Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Amoto Dennis Slightly a year after Gor Mahia FC Savings and Credit Co-operative was launched by the club’s patron, Raila Odinga; the Sacco is moving to gain a foothold in the competitive savings mobilization and credit provision space. Establishment of the Sacco meant to make the club financially independent and also to help…
By Our Reporter It will soon be possible for Savings and Credit Co-operative Societies (Saccos) to share both positive and negative credit information of their members with Credit Reference Bureaus (CRBs). This is if a Bill to amend the relevant statutes, now before a departmental committee of the National Assembly is passed into law. The…
By Jackson Okoth All the Deposit-Taking Saccos supervised by the Sacco Societies Regulatory Authority (SASRA) are expected to begin altering their letter heads, corporate identity, brand names or even logos. This will happen as soon as a proposal contained in The Sacco Societies (Amendment) Bill, 2016, allowing them to change names, is passed into law….
By Jackson Okoth An American consultancy appointed to assist the Sacco Societies Regulatory Authority (SASRA) set up a facility to allow Saccos lend to each other like banks do, is almost completing the task. Madison-based Dave Grace & Associates is expected to provide a roadmap for establishment of central liquidity facility for Savings and credit…
By Munene Maina Nakuru County Government has embarked on an ambitious strategy to strengthen farmer’s co-operatives and boost Agricultural sector. Speaking to Sacco Review in his office, Nakuru Co-operatives Director Patrick Mak’Anyengo said strong societies for farmers will ensure they get good returns from their activities. “Agriculture sector plays a big role in our county…
By James Wakahiu More than 1, 000 youth will benefit from a Sh50 billion technical training support and market linkages under an entrepreneurship programme dubbed 2jiajiri by the Kenya Commercial Bank (KCB) in collaboration with Bidco Oil Refineries Limited Under the partnership, KCB will offer the technical capacity building and Bidco will provide a guaranteed…
By Kamundia Muriithi Focus Realtors Housing Society Ltd has embarked on a process to help her members acquire and develop plots in Rumuruti town, where Laikipia County plans to relocate its headquarters to next year. Nelson Mwenda, the society’s manager said the aim is to empower members acquire land for development in Rumuruti region and…
By Eric Nyariera Formation of many small Saccos is killing the co-operative movement in the County, according to Industrialization, Energy, Enterprise and Development County Executive Committee (CEC) member, Johnson Awuor (pictured). Awuor who was speaking during Ushirika Day celebrations in Kisumu, lamented that though the county has more than 400 registered Saccos, many of them…
Sotico Sacco in Chebilat has brightened members’ lives by advancing loans to parents to venture into businesses as well as pay school fees for their children. The Sacco’s Chief Executive Officer, Everline Moraa, during her school days used to receive loans through her parents to pay school fees. This support saw her grow up confident…
By Jackson Okoth Kimisitu Sacco, which draws its membership from Non-Governmental Organizations (NGOs), embassies and international missions, plans to launch a Front Office Service Activity (FOSA) wing. This will enable it to offer quasi-banking facilities to its members. “We have to first have the right capital ratios as well as satisfy several regulatory requirements before…
