National News - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

KUSCCO seeks review of Tax Act for more equitable tax treatment for Saccos

Sacco ReviewMay 29, 202505 mins

Kenya Union of Savings & Credit Cooperatives (KUSCCO) has proposed amendments to Section 19A of the Income Tax Act to create a more equitable and neutral tax framework for all cooperative societies in Kenya, regardless of their form The current Income Tax Act (ITA) in Kenya presents a differential treatment between cooperative societies that is…

Court rules commissioner of cooperatives has the power to investigate saccos

Sacco ReviewMay 28, 202502 mins

Metropolitan National Sacco members have welcomed the high court ruling that stated that commissioner of cooperatives has the power to investigate any Sacco where misappropriation, theft mismanagement and breach of trust by management occur. Judge Rosyln Abuli indicated that the commissioner of cooperative is permitted by law to carry out the investigation. The ruling means…

CBK to pump KSh 180m into SafetyNet to protect SACCO cash

Sacco ReviewMay 27, 202509 mins

The Central Bank of Kenya (CBK) plans to put in an estimated Ksh 180 million into a Deposit Guarantee Fund (DPF), designed to provide a financial safety net for individuals and corporate entities that hold huge deposits in Deposit-Taking Savings and Credit Cooperative Societies (SACCOs). This yet-to-be-established fund is part of the latest reforms in…

Former KUSCCO directors challenges order to vacate office

Sacco ReviewMay 27, 2025May 28, 202504 mins

In the midst of a growing leadership struggle within the Kenya Union of Savings and Credit Cooperatives (KUSCCO), former directors who were recently ousted from office are protesting the decision and the official removal order. The former directors who are now directors and executives in various SACCOs were removed from the KUSCCO office after the…

Stakeholders call for urgent solutions to devastating hacking cases

Sacco ReviewMay 27, 202504 mins

Following an increase in hacking in the country, attributed to massive tech job layoffs, which have in recent years plagued many enterprises, organizations have been urged to convert the negative energy of hackers into positive energy by creating opportunities for them. As a result of increased cyberattacks (hacking) and ransomware, many institutions have been grappling…

Cooperators from eight countries in Africa benefit form financial training by ACCOSCA

Sacco ReviewMay 26, 2025May 26, 202503 mins

Cooperators from eight countries in Africa and beyond have benefitted from the impactful Financial Coaching Certification Class of May 2025 organized by The African Confederation of Co-operative Savings and Credit Association (ACCOSCA). The ACCOSCA Academy Center of Excellence addressed psychological aspects of financial management, helping members understand and change their financial behaviors as a key…

PS defends move to seek additional funding of Ksh5 billion for the Hustler Fund

Sacco ReviewMay 26, 202503 mins

State Department for Micro, Small, and Medium Enterprises (MSMEs) Principal Secretary Susan Mang’eni, has defended the department’s move to seek additional funding of Ksh5 billion for the Hustler Fund. The PS while speaking during the 42nd Annual Institute of Certified Public Accountants of Kenya (ICPAK) Seminar in Mombasa, Mang’eni underscored the fund’s importance in providing…

Government pays sugar factory workers Ksh 600 million as part of arrears

Sacco ReviewMay 23, 202505 mins

The Kenya Union of Sugar Kenya Plantation and Allied Workers (KUSPAW) has confirmed receipt of Ksh 600 million as part of the arears owed to its members by the government. KIUSPAW secretary Francis Wangara said that it is the first phase of the Ksh. 5.3 billion owed to workers leaving Ksh. 4.7 billion in arears….

SACCOs urged to adopt new technology to compete effectively with banks

Sacco ReviewMay 23, 202502 mins

Savings and Credit Cooperative Organizations (SACCOs) have been challenged to adopt new technology to penetrate in the current business market. Speaking during leaders’ meeting and launch of Ushirika activities Cooperative Bank of Kenya vice chairman Macloud Malonza said saccos should also intensify investments in product development to endure the current market competition. Malonza said Saccos…

SACCOs are preferred choice for affordable and accessible loans, KNBS survey indicates

Sacco ReviewMay 23, 202503 mins

Savings and Credit Cooperative Organizations in Kenya are emerging as a preferred choice for affordable and accessible loans as demand for housing in the country. According to the 2025 Economic Survey by The Kenya National Bureau of Statistics (KNBS), 31.8% of real estate firms partnered with SACCOs for financing arrangements in 2023, highlighting the growing…