Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Nelly Kamau Melita, Honorary Secretary of Ufanisi DT Sacco, shares her life experience and journey to get to the top. It is an hilarious journey that began in 2009, riding on one particular incident that looked like her fortunes were lost forever. She remembers this with clarity, frivolous as it might be but it took…
Stakeholders in the cooperative movement have decided that the Co-operative Movement Stakeholders’ Conference will now be an annual event, which will be held every year in the month of June. This was agreed during the first conference held at Sarova Whitesands Beach Resort in Mombasa themed ‘Co-operative Business Model for Socio-Economic Transformation’. Itattracted more than…
Tower Sacco recently held a Special General Meeting to review the Society’s performance in the past eight months and to present the budget for the next financial year. Sacco Chairman Peter Mainah Ngugi said the Sacco recorded increased membership to 216,382 by August 31, 2023 compared to 188,115 in the same period last year. During…
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…
