Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Anxiety is brewing among staff at the Standard Media Group as word spreads that Network Sacco, which directly deducts monthly contributions from their salary, is facing severe financial difficulties. The Sacco membership, which is drawn from the editorial, management and other departments, has experienced salary delays attributed to cash flow issues occasioned by a reduction…
The co-operative movement in Kenya is playing a vital role in the realization of the government’s Bottom-Up Economic Transformation Agenda. This is according to Cooperatives and Micro, Small, and Medium Enterprises (MSMEs) Development Cabinet Secretary (CS) Simon Chelugui, who praised the sector’s role in economic growth, alleviating poverty and advocating for social inclusion. Speaking in…
Deputy President (DP) Rigathi Gachagua has said that coffee farmers in the country will now sell their coffee directly to the United States of America (USA) without brokers. Gachagua said that there are ongoing talks with the world’s largest coffee chain, Starbucks Corporation, to sign a landmark deal that will see farmers double their incomes….
The rush by Saccos to embrace mobile and internet banking as a replacement for the brick and mortar branches is proving to be a weak link in the fight against fraud in Saccos. A recently released SASRA report covering 2021 and 2022 shows that rogue Sacco staff are breaching internal systems and riding on mobile…
President William Ruto has urged unregistered farmers to register and benefit from subsidized fertilizers to boost their production. Speaking during the Mashujaa Day celebrations at Kericho Green Stadium, the President emphasized that his administration is committed to ensuring that every farmer in Kenya has access to the resources they need to thrive. He revealed that…
The Cabinet has approved the release of an additional Ksh4 billion for coffee farmers. It had earlier on released Ksh3 billion . This implies that farmers will now earn Ksh80 for a kilogramme of cherry from the current Ksh20 as an advance payment. To re-energise the Nairobi Coffee Exchange, the government will also search for better markets for…
Deputy President Rigathi Gachagua has revealed that coffee farmers will sell their produce directly to Starbucks, eliminating intermediaries. The DP said that the government is currently in discussions with Starbucks Corporation, the world’s largest coffee chain based in the United States, regarding a groundbreaking deal. “The collaboration is expected to revolutionize the coffee industry in…
Peter Gikonyo, the Chairman of the Nairobi Coffee Exchange (NCE), has revealed that five coffee marketers are set to showcase 6,369 bags of coffee at the inaugural sale of the 2023-2024 coffee crop. He noted that there will be 37,636 kilograms of pristine AA-grade coffee and 201,197 kilograms of AB-grade coffee. The chairman stated that…
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…
The growth of Saccos in Kenya has shown how important they are in providing affordable financial services and enabling easier access to savings and credit for members. Saccos have therefore impacted the economic growth experienced in Kenyan communicates. More often than not, we place a lot of emphasis on the achievements of the Sacco but…
