Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
President William Ruto has lauded the unique nature of the cooperative business model of aggregating human and capital resources for informing his administration’s economic transformation agenda. The president revealed that since Saccos focus on uplifting Kenyans at the bottom of the economic pyramid, his administration decided to use them to help in economic transformation. He…
The fall of the hammer is dreadful. An encounter with an auctioneer is the most frightening experience for an investor, not just because of the humiliation, but the thought of losing property to an indifferent executor of orders is traumatising. However, Sacco leaders have maintained that despite auctioneers having a place in Saccos, they should…
Co-operative professionals and practitioners, through the Kenya Society of Professional Cooperators (KSPC), have asked the Co-operative University of Kenya (CUK) to re-introduce the traditional cooperative courses it used to offer before it was upgraded to a full-fledged public university. The professionals and practitioners noted that traditional cooperative courses, such as Certificate in Cooperative Administration (CCA),…
Savings and Credit Cooperatives (Saccos) and Microfinance institutions are expected to reap big following a move by the Central Bank of Kenya (CBK) to increase banks’ lending rates. CBK Governor Kamau Thugge raised the benchmark lending rates to the highest point in nearly seven years on heightened fear of a spike in consumer prices. The…
During this year’s National Cooperatives CEO’s Workshop in Mombasa organized by the Co-operative Bank, the Sacco heads decried lack of adequate information about SMEs as a hindrance to getting loans as their inability to keep records pushed them away from investing. In addition, most SMEs have a poor saving culture, denying them the banking history…
Geoffrey Njang’ombe, former Commissioner of Cooperatives, has a unique demeanour; polite, cool and collected. Yet behind the tranquility of mien is a tough uncompromising personality, but not in the usual sense of intense outlook commanded by senior corporate gentlemen and ladies. His amiability goes beyond common etiquette, transcending even the wiles of temptation in the…
Personal finance refers to a financial management process which an individual or a family unit engages in to budget, save and spend financial resources over a given period of time considering various financial risks and future life events and expectations. Financial experts argue that personal finance literacy is critical to help an individual make rational…
SASRA is finalizing the guidelines that will standardize member complaints management, which will be applied across the Sacco sub-sector which is under the regulation of the Authority. The proposed Guidelines on Complaints Management by Sacco Societies, which were subjected to public and stakeholders’ comments and feedback for 15 days running from March 3, 2023, to…
Sacco Society Regulatory Authority (SASRA) has set minimum requirements for engagement of third-party financial system integrators (vendors) that provide their financial services to Saccos in a bid to deal with cyber-attacks related to third parties.In a letter dated June 6, 2023 addressed to chief executives (CEOs) of the regulated Sacco societies, SASRA CEO Peter Njuguna…
Deputy President Rigathi Gachagua has assured tea farmers that the government is in the process of implementing the Tea Act of 2020 sponsored by Kericho County Senator Aaron Cheruiyot. Speaking during the closing ceremony of a three-day conference dubbed, “Mkulima Kwanza” held at the Kericho Golf Club, the DP noted that implementing the Act will…
