Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
By Sacco Review Reporter The Sacco Societies Regulatory Authority (Sasra) has urged Saccos to reconcile ‘other assets’ in their books of accounts to ensure there is transparency as the absence of the other assets in their financial statements is a possible conduit of fraudulent activities. “The Authority calls upon the Non-Withdrawable Deposit Taking (NWDT) Saccos…
By John Majau Kenya exported miraa (khat) worth Sh221 million in four days since the recent resumption of the Somalian market highlighting the significant role that the commodity is playing in the economy. Head of Miraa Pyrethrum and other Industrial Crops Felix Mutwiri said the country had exported 81.4 tonnes of the stimulant to Mogadishu since the…
By Azael Masese Kenya’s saving rate might decline due to skyrocketing inflation, raising fears on the country’s ability to raise the necessary capital for investment. The cooperative sector and Savings and Credit Cooperative Societies (Saccos) in particular stand to be the biggest losers. As Kenya marked the 100th Ushirika Day on 2nd July 2022, it was praised…
By Azael Masese The move by some Saccos to bar non-core members from elective positions has come under sharp criticism even as the Government seeks to enhance good governance in the entities. Most Saccos rebranded and opened the common bond to allow members from outside their traditional catchment areas to join the Saccos but didn’t…
By Azael Masese Savings and Credit Cooperative Societies (Saccos) across the country are set to witness drastic changes in their management following plans by Sacco Society Regulatory Authority (SASRA) to engage top industry players in formulation of regulations that affect Sacco operations. This is a shift from the past where societies were expected to enforce…
