Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Our Reporter Only 60 Saccos have submitted their unclaimed financial assets, including nil returns to Unclaimed Financial Asset Authority (UFAA) as at June 2021, the agency has revealed. In a workshop with stakeholders on compliance by the Sacco sector to UFAA Act, 2011, the authority’s CEO and Managing Trustee Mr. John Mwangi revealed that…
By Roy Hezron Savings and Credit Co-operatives (Saccos) in the country are increasingly investing more resources in technology and security in efforts to protect members’ funds from cyber criminals, a recent survey report has shown. According to Serianu Ltd, a business consulting firm, the percentage of Saccos that have a cybersecurity strategy improved by 44.7…
By Obegi Malack obegimalack@gmail.com Kenya Teachers Sacco Association (KETSA) national chairperson Robert Njue has called upon teachers Saccos to join the association to pool resources together and address the unique needs of Saccos. Njue, who is also Winas Sacco chairman, said the association has been successful in ensuring employers remit money to the Saccos on…
By David Kipkorir The Cooperative movement welcomed the commitment to restore the ministry, saying such a move will encourage transformative changes in the sector. With Simon Chelugui having been nominated as the preferred Cabinet Secretary to take over this crucial docket, sector players are upbeat things are looking up at last. During his swearing-in ceremony…
By Sacco Review Writer President William Ruto has appointed Labour and Social Protection Cabinet Secretary, Simon Chelugui to the new Cooperatives docket in the same capacity. Chelugui is the only Cabinet Secretary serving under the Uhuru Kenyatta regime to be retained and will spearhead Co-operatives and Micro Small, and Medium Enterprises (MSME) Development. Cooperative players…
By Azael Masese Former President Uhuru Kenyatta has asked Cooperative societies to invest in Government Bonds to lend the government the much needed cash to undertake long term development projects instead of relying on expensive external debt. Speaking during the 100th Ushirika Day celebrations at the KICC, the president said Cooperatives can be major players…
By Sacco Review Reporter Kenya’s vibrant cooperative sector will gain immensely if the promise by President-Elect William Ruto to reduce the price of fertilizer is implemented. While speaking in Meru over the weekend, Ruto hinted at a possible reduction of fertilizer price from the current Ksh.6,500. “I have had meetings with those at the Ministry…
By Kevin Odera/ Roy Hezron Kenya’s savings and credit co-operative (Sacco) sub-sector has recorded a growth in its asset base to reach Ksh 807.11 billion in 2021, the recently released the Sacco Society Regulatory Authority (SASRA) report has shown. According to the country’s Sacco regulator, the sub-sector total asset base increased from Kshs 734.22 billion…
By Musyoka Kaleti County Cooperative societies have urged the government to consider channeling the social protection funds for the aged through Saccos to make it easy for them to access their funds. This was said by Diana Wawira Mbogo, Chief Executive Officer of Daima Sacco Society during this year’s 100th Ushirika Day celebrations at Kangaru…
By David Kipkorir Nafaka Sacco has joined in the long list of Saccos rebranding and is set to rebrand as it seeks a bigger pie in nationwide membership drive. “Through this rebranding, we have embarked on an exciting adventure to increase our visibility and accessibility countrywide,” said Nafaka Sacco chairman Mr Raymond Kipkoech Mwarey. Speaking…
