Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Intensive marketing and customer-friendly financial solutions have seen Saccos overtaking commercial banks in deposits and customer numbers. Experts have attributed this revolution to adherence to guidelines set by regulatory bodies, including the Central Bank of Kenya (CBK), attractive loan interest rates, quick processing of loans, and favourable returns through interest and end of year dividend…
A recent report by SASRA has revealed that Sacco accounts holding more than Ksh1 million stood at 92,000 by the end of 2022. This is a 29.6 per cent rise from about 71,000 accounts reported in 2021. The 92,000 accounts, an equivalent of 0.63 per cent of all the 14.52 million accounts, held Ksh163.3 billion…
Deputy Vice Chancellor Finance Planning and Administration at the Co-operative University of Kenya (CUK) and career cooperator Prof Esther Gicheru has called for mergers in the co-operative sector if better governance and management have to be achieved. In her presentation titled ‘The Contribution of the Cooperative Business Model in Development: Practices and Opportunities’ to the…
The New Kenya Planters Co-operative Union (NKPCU) has highlighted a number of ways in which coffee farmers can expand access to the international market, including market exposure through exhibitions to unlock the potential of the local industry. Giving his presentation on export marketing and farmer financing during the inaugural Cooperative Movement Stakeholders’ Annual Conference, NKPCU…
Sacco Societies Regulatory Authority (SASRA) has plans to create a framework that will see the National Treasury (NT) deducting funds directly from exchequer-funded entities to Saccos. SASRA Chairperson Jack Ranguma said county governments and their legislative assemblies, as well as public universities and tertiary colleges, have continued to top the list of defaulters of Sacco…
The financial landscape in Kenya is characterized by a diverse array of institutions like banks, insurance companies and Saccos that cater to the financial needs of individuals and businesses. At the heart of the effective functioning of these organizations lies the crucial element of professional management. This article explores the unique characteristics of banks, insurance…
Principal Secretary (PS) of Housing and Urban Development Charles Hinga has defended the housing levy, arguing that it aims to provide housing to millions of people who lack the means to build, purchase or secure a mortgage for their own homes. The PS said in Nairobi, one of Africa’s most developed cities, 90 percent of…
Cooperatives and Micro, Small and Medium Enterprises Development Cabinet Secretary Simon Chelugui has urged SACCO leaders to attend the Annual Savings and Credit Cooperative Association Congress so as to exchange knowledge on cooperative policies and practices. Speaking during SACCO leaders’ consultative breakfast meeting on preparedness status for the 23rd SACCA congress organized by African Confederation…
Twelve suspects linked to the mysterious disappearance of Ksh166 million belonging to the Njiwa Sacco have been charged before the Kahawa Law Courts. Appearing before Senior Principal Magistrate Boaz Maura Obwewa, the suspects pleaded to 223 charges filed against them by the office of the Director of Public Prosecutions. Through their lawyers led by Danstan…
The Office of the Data Protection Commissioner has issued three penalty notices to three data controllers for failing to observe data privacy rights to data subjects and , not complying with the Data Protection Act. This has been revealed through a press released today, September 26, 2023, by the office of the data protection commissioner….
