Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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,…
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…
The best choice for the youth to achieve the much sought after financial empowerment is for them to join good Saccos. Offering young entrepreneurs admission into Saccos and other accelerators alleviates the risk and fear that comes with taking the leap into entrepreneurship alone. Enterpreneurhsip is an area where many youth have feasible ideas about…
The 2022 Sacco Supervision Annual Report revealed that the cumulative core capital of DT Saccos grew from Ksh109.29 billion in 2021 to reach Ksh124.89 billion in 2022. The institutional capital to total assets ratio, which tests the ability of DT Saccos to build their capital from retained earnings and surpluses, increased from 9.15 percent recorded…
A report from SASRA investigative unit (Sacco Societies Fraud Investigations Unit) has revealed that the Sacco sub-sector suffered an enormous loss of Ksh118.1 million in the last two years due to fraud. An additional Ksh114.4 million is suspected to have been lost in the same period. The investigative unit revealed that the fraudsters have been…
Cooperatives today have become very important drivers of personal financial growth and the route to members’ economic empowerment. Since the first cooperative society was formed in Kenya and its subsequent success, both the private and public sectors embraced them as vehicles to financial breakthrough. Cooperatives must adopt the best policies, bylaws and strategies because good…
The fifth cooperative principle of education, training and information encourages Cooperative societies to hold education days through which members, stakeholders and the public are made to understand their operations. Staff training is an important strategy for any Sacco that wants to achieve its set goals. There might be a possibility that the staff hired in our…
Kenya Union of Sugar Plantation and Allied Workers (KUSPAW) has demanded the clearance of outstanding salary arrears before any further reforms or changes are made in the sugar sub-sector. During the National Assembly joint committee meeting on Finance, National Planning & Agriculture co- chaired by Dr. John Mutunga and Kuria Kimani, the workers said the…
Saccos and Cooperative Societies have been urged to adopt swift models of repayment of the Cooperative Enterprise Development Fund (CEDF) loans. Speaking during the scrutinizing and approval of CEDF loan application documents, Cooperatives and Enterprise Development Chief Officer Ruth Samoei maintained that it’s vital for the societies to put the fund into good use since…
The SASRA Sacco Supervision Report has revealed that the total amount of financial investments of regulated Saccos decreased from Ksh50.30 billion in 2021 to Ksh49.95 billion in 2022. The drop in the proportion of financial investments to total assets was as a result of a significant drop in the financial investments of the deposit taking…
