Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
The one time vibrant Moi University Savings and Credit Cooperative Society (MUSCO) is now on its deathbed. The Sacco’s MUSCO Towers, a commercial building in Eldoret town, will forever bring back painful memories to the thousands of Sacco members who are not sure whether they will ever recover their hard earned cash they pumped into…
Sacco Society Regulatory Authority (SASRA), the regulatory body for Savings and Credit Co-operatives (Saccos), has issued revised guidelines to govern the renewal of operating licences for the country’s Deposit-Taking (DT) Saccos. This has seen new procedures being introduced and the existing ones improved to hold the 176 DT Saccos more accountable and ensure the protection…
In a fast changing and dynamic labour market, it is essential for employees to embrace effective communication for better understanding and as well increase productivity at workplace. Employees who often than not tend to do everything on their own, will basically get overburdened to the extent of eventually getting fatigued to the level of failing…
The operationalization of the Kenya Sacco Central Liquidity and Shared Services Cooperative Society Ltd (The Sacco Central) is set to change Kenya’s Sacco sub-sector’s landscape as it will help address liquidity challenges, especially for small Saccos. Under the outfit, Saccos are expected to pool resources under one platform and access a host of services at…
Kenya National Police DT SACCO Board Chair David Mategwa has expressed the Sacco’s commitment to work with any struggling Sacco. Kenya National Police DT SACCO is among the wealthiest and the most vibrant Sacco in the country. Mategwa said the SACCO is willing to take over the struggling Saccos’ liabilities and assets to enable the…
Savings and Credit Cooperatives Societies (Saccos) have been urged to change the criteria they use to measure their contribution to the country’s economic and social wellbeing. Sacco Societies Regulatory Authority (SASRA) CEO Peter Njuguna noted that the annual performance based on growth of asset base, deposits, share capital and surplus is never enough. Njuguna underscored…
One basic characteristic that distinguishes companies from cooperatives is that companies are associations of capital while cooperatives are associations of persons. Additionally, while companies strive to maximize profits for their shareholders, the same cannot be said of primary cooperatives that are voluntary self-help organizations that aim to solve members’ socio-economic and cultural needs. At the…
Sacco Societies Regulatory Authority (SASRA) CEO Peter Njuguna has stressed on the need for Saccos to collaborate to achieve greatness. “We have realized that Saccos actually collaborate significantly with various service providers because Saccos alone cannot provide the services. Courtesy of the collaborations we have had so far, you will note that we have grown…
Competition for payment of super dividends and interest on deposits among Saccos has topped the list of the major issues affecting the pace of growth of the cooperative movement in the country. The Kenya Society of Professional Co-operators (KSPC) has raised concern over the current trend of offering super dividends and interest on members’ deposits…
Savings and Credit Cooperatives (Saccos) must leverage on technology in order to remain relevant in highly competitive and dynamic financial world. Sector leadership must innovate and take advantage of the many resources that are available to assist and secure the stability and future of Saccos and build prospects, wealth and impact positively on members. The…
