SACCO Co-operatives

Cooperatives CS proposes Saccos to clear their cheques 

Cooperatives Cabinet Secretary (CS) Simon Chelugui has proposed that Saccos be allowed to clear their cheque books directly as opposed to the current practice of doing it through commercial banks. The CS said Saccos were incurring a lot of expenses when clearing their cheques through commercial banks.  “I believe that Saccos will be able to … Read more

Read More

Real estate players form association to weed out land fraudsters

Over 100 firms in the real estate sector have formed an association dubbed Real Estate Stakeholders Association to help end the many cases of Kenyans being conned millions of shillings by fraudulent land buying and selling companies. According to Zani Properties Limited chairman Shamton Githere, the association will play a pivotal role in regulating the … Read more

Read More

Stick to Coop values to stand out from crowd, sector told

Cooperatives Commissioner David Obonyo has urged the sector to be guided by the values and principles of the cooperative movement in their operations, with a view to standing out from other business models. Obonyo noted that the core mandate of CAK is to ensure cooperatives entrench the principles and values of cooperatives so that its … Read more

Read More

Lecturer’s innovation to spearhead affordable housing

Dr Joseph Mwiti’s innovation of manufacturing cement using clay will serve as a welcome relief to thousands of Kenyans who aspire to build home. Dr Mwiti, a lecturer who teaches Chemistry at Meru University of Science and Technology(MUST), believes that using clay to make cement will revolutionize construction and provide a solution to high costs … Read more

Read More

KTS invites tender applications for construction of its office block

KTS, formerly Kitui Teachers Sacco, has invited suitable local constructors for the construction of an office block on plot number LR KYANGWITHYA/TUNGUTU/3892. The minimum and mandatory qualifications include possession of a pre-qualification document, incorporation or registration certificate, valid tax compliance certificate and a recent copy of CR 12. Current registration with the national construction authority … Read more

Read More

Redefine role of Saccos in new sugar law, stakeholders urge Govt

Leaders and farmers from the sugar belt want the role of Saccos redefined in the new sugar law to drive sugarcane development activities. Speaking during a sugar summit held in Kakamega, the leaders proposed that Saccos and outgrowers companies be the key drivers in sugar development and management. “Notable cane out growers companies and Saccos … Read more

Read More

Government should bring back arbitration to solve cooperatives disputes

One of the key reforms introduced in the judicial system by the 2010 constitution was the implementation of Alternative Dispute Resolution mechanisms (ADR), which aimed to settle disputes in various sectors, including cooperatives. During the era of the Cooperative Societies Act, 1966, I vividly recall how cooperative disputes were resolved through a process known as … Read more

Read More

Agriculture based Saccos lead in loan defaults, SASRA reveals

The annual Savings and Credit Cooperative Organizations (SACCOs) supervision report 2022 released by Sacco Societies Regulatory Authority [SASRA] has revealed that 49 agriculture-based SACCOs have topped the charts in loan defaults by the ratio of 18.42 percent, more than double the industry average. Notably, these 49 agriculture-based Saccos represent the largest membership within the sector, … Read more

Read More

SASRA Report highlights intensified competition between SACCOs, Commercial Banks

The latest released Sacco Societies Regulatory Authority (SASRA) report reveals a significant surge in competition between Savings and Credit Cooperative Societies (SACCOs) and commercial banks in Kenya, with consumers opting for SACCOs. The craze for SACCOs is because they offer low-interest loans and attractive dividend payouts, making them an appealing choice. Furthermore, SACCOs’ member centric … Read more

Read More
Not Allowed