Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Robert Nyagah Experts and other stakeholders in the cooperative movement have been challenged to offer professional guidance on prudent financial management to start-up groups to ensure such units mature to Saccos and Cooperatives. Former Commissioner of Cooperatives Mr. Geoffrey Njang’ombe argued that when well equipped with skills and funds management skills, the groups have…
By Obegi Malack obegimalack@gmail.com The government’s Financial Inclusion Fund commonly known as Hustlers Fund program which is set to be launched at the end of this month will not require any official registration. Co-operative and Micro, Small, and Medium Enterprises (MSMEs) Cabinet Secretary Simon Chelugui has clarified that Kenyans seeking to access the funding will…
By Obegi Malack obegimalack@gmail.com The government has approved the legal and institutional framework to anchor the establishment and implementation of the financial inclusion fund (Hustlers Fund) which was in President William Ruto’s pre-election manifesto. The first phase roll out of the fund is expected to be launched on November 30, this year. Kenyans will be…
By Azael Masese Cooperatives and SME Cabinet Secretary Nominee Simon Chelugui has promised to streamline the cooperative sector to significantly contribute to improving living standards of Kenyans. While appearing before the National Assembly’s Committee on Appointments recently, Chelugui identified amending the Cooperative Societies Act, strengthening Sacco Societies Regulatory Authority (Sasra) as top in his agenda….
By Roy Hezron Disputes in co-operative sector will now be handled by the Co-operative Court which will stand on its own aside from the existing Co-operative Tribunal, if the draft bill will be enacted into law. The Draft Co-operative Bill, 2021 which if enacted into law will repeal the long-term Co-operative Societies Act which was…
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…
