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Hazina Sacco members told to focus on affordable loans

Sacco ReviewFebruary 26, 2024February 26, 202402 mins

Commissioner for Co-operative Development David Obonyo has challenged Savings and Credit Cooperative Organizations (Saccos) members to focus on getting affordable loans from their Saccos rather than high dividends. Speaking during the recently concluded Hazina DT Sacco Annual Delegates Meetings (ADMs) in Nairobi, he asked members to have long term investments through the Saccos, since co-operative…

SASRA warns public against trading with unauthorized Saccos

Sacco ReviewFebruary 22, 2024February 22, 202408 mins

Sacco Society Regulatory Authority (Sasra) has warned the public against undertaking any related Savings and Credit Co-operative (Sacco) business with those entities that are not registered and regulated by the Authority. In a recent Public Caution issued by Chief Executive Officer (CEO) Peter Njuguna, the Authority has observed that a large section of members of…

Kenyan innovations star at EAC MSMEs Trade Fair

Sacco ReviewFebruary 22, 2024February 22, 202407 mins

Kenya scooped the second position for the most innovative products during the recently concluded 23rd East Africa Community Micro, Small and Medium-sized Enterprises (MSMEs) Trade Fair formerly known as the Jua Kali-Nguvu Kazi Exhibition after the United Republic of Tanzania clinched first position in the exhibitions held in Bujumbura, Burundi. The Trade Fair whose theme…

Co-operative Bill deferred after governors complain of being sidelined

Sacco ReviewFebruary 22, 2024February 22, 202407 mins

The Co-operative Bill, 2023 has now been put on hold after county governors claimed that they were not consulted during the drafting. Sponsored by the government through the Ministry of Co-operatives and Micro, Small and Medium-sized Enterprises (MSMEs) Development, the Bill was in Parliament to allow for its first reading before proceeding to other stages…

Govt asked to urgently initiate data privacy policies to protect Kenyans’ rights

Sacco ReviewJanuary 27, 2024January 27, 202404 mins

Cabinet Secretary (CS) for Information, Communications and the Digital Economy, Eliud Owalo, has said there is an urgent need for the country to foster a culture of data privacy as we navigate the intricate web of data-driven advancement. Owalo said that prioritizing data privacy allows organizations to secure the confidentiality, integrity and availability of personal…

Resurgence of digital lenders giving traditional Saccos a headstart

Sacco ReviewJanuary 24, 2024January 24, 202407 mins

The resurgence of digital lenders is giving Saccos a headstart as it poses a significant challenge to attract and retain the younger generations; Millennials and Generation Z. It is particularly made more difficult by their overall predisposition since many of them still operate in a traditional manual style at their physical branches. A 2022 SASRA…

Change of guard as KUSCCO gets new Chairman, Managing Director

Sacco ReviewJanuary 16, 2024January 16, 202404 mins

The Kenya Union of Savings and Credit Co-operatives (KUSCCO) has made changes to its top leadership after the departure of National Chairman George Magutu and the Group Managing Director George Ototo. In a circular addressed to all Savings and Credit Co-operatives (SACCOs) dated January 15, 2024; David Langat from Imarisha Sacco in Rift Valley region…

Kenya’s coffee products record exciting prices at NCE

Sacco ReviewDecember 20, 2023December 20, 202303 mins

The Cabinet Secretary, Ministry of Co-operatives and MSMEs Development, Simon Chelugui, has announced that Kenyan coffee products have recorded exciting prices on the Nairobi Coffee Exchange (NCE). “Today, we have received exciting news from the NCE, where Kenyan coffee products have attracted big interest across the globe, with some 32 companies now participating in the…

Claims will soon be settled within 24 hours, NSSF says

Sacco ReviewDecember 11, 2023December 13, 202302 mins

The National Social Security Fund (NSSF) is working on modalities to ensure that members’ claims are paid within 24 hours, but they will first put measures to settle claims within 14 days. Speaking in Kisumu during a consultative meeting with members of the Central Organization of Trade Unions (COTU), NSSF Managing Trustee David Koros disclosed…

Kenya National Police DT Sacco wins the FiRe Awards Sacco category award

Sacco ReviewDecember 11, 2023December 11, 202303 mins

The Kenya National Police DT Sacco has been awarded as the winner in this year’s FiRe Awards – Sacco category. The award comes months after the Sacco was recognized as the top-performing Sacco nationwide in the Management and Capitalization category during the Ushirika Day celebrations held on July 1 at the KICC. In a statement…