Category: Features

By Our Reporter Sacco Societies Regulatory Authority (SASRA) has advised smaller Deposit-Taking Savings and Credit Cooperative Societies (Saccos), whose market is shrinking, to consider mergers or consolidation as possible survival options. This comes after the Authority this year, withdrew Front Office Service Activity (FOSA) licenses for eight Deposit-Taking Saccos after they failed to meet the…

Chuka Housing Co-operative Society has has joined in the epic transformation of Chuka town, a fast growing business hub in the County. The society, which broke out from Chuka Farmers’ Co-operative has turned around the face of the town after constructing state-of-the-art buildings. It enjoys rent from Co-operative Bank, Thamani and Southern Star Saccos among…

Governor Jackson Mandago has challenged Co-operatives officials to ensure they effectively and transparently deliver on their mandate as they are entrusted by their members. Speaking to Sacco Review at Chemororot Primary School in Soy Sub-County recently during a meeting with over 20 Cooperatives members and their officials, Mandago said the success of Cooperatives depend on…

E/MARAKWET Potato farmers in Elgeyo Marakwet have formed Cooperatives to lobby the County Government to fast-track implementation of potato weight laws. Residents with assistance of Tecno-serve International are petitioning the county administration to ensure that weigh standards are fully implemented in a bid to cushion farmers from exploitation by middlemen. Tecno-serve Field Extension Officer, Emmanuel…

EMBU Embu County Government has been urged to establish a revolving fund where Saccos can borrow funds at low interest rates and loan to their members. Daima Sacco Chairman John Njeru said the County Saccos were the best wheels for poverty eradication since they empowered small traders, farmers and youths to expand their ventures through…

By James Wakahiu Urithi Housing Co-operative Society has acquired a 5-acre plot within Nairobi area and has begun construction of apartments under a project that will cost it over Sh500 million. The Osten Terrace Gardens Apartments will comprise three storied buildings on a parcel of land that is located 13 kilometers from the Eastern Bypass…

By Jackson Okoth The Management and Board of Directors of many Savings and Credit Co-operative Societies (Saccos) are expected to face angry members and a barrage of questions during this year’s Annual Delegates Meetings (ADMs), a season that begins this month. Members will want answers on why their dividend cheques are not as attractive as…

By Wesley Ken Magereza Sacco is one of the giant savings and credit societies in Kenya that has taken a leap into the property market. The Sacco has bought land in Isinya to sell to its members and non-members. The land is subdivided into parcels of 1 acre and 1/8 acre plots totaling 1, 003….

By Jackson Okoth Savings and Credit Co-operative Societies (Saccos) not offering Front Office Services Activity (FOSA) could soon take the fight for clients,right to doorsteps of commercial banks. This is if the Banking Act is amended to allow Deposit-Taking Saccos access to the cheque clearing house. Saccos that offer FOSA to members will then be…

NANDI Siret Outgrowers Empowerment Company Ltd Chairman, Wilson Tuwei has asked the National Government to support tea farmers to look for lucrative markets abroad. Saying Kenya produces the best quality tea, he noted that the country’s tea is not sprayed with pesticides unlike other countries where they spray tea bushes with pesticides. “If buyers from…