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SASRA decries SACCOs slow adoption of credit scores in loan appraisals

Sacco ReviewJuly 4, 2025July 4, 202509 mins

The Sacco Societies Regulatory Authority (SASRA) has expressed concern that, despite the immense value of credit scoring, SACCOs have been slow to fully adopt credit referencing, resulting in gaps in credit decision-making. The regulator also highlights challenges in implementing effective credit-scoring systems, which have hindered responsible lending and undermined long-term financial stability. However, some senior…

Counties urged to prioritize Cooperatives as Key Pillars of grassroots growth

Sacco ReviewJuly 4, 202503 mins

As Kenya gears up for this year’s Ushirika Day celebrations, the Cooperative Alliance of Kenya (CAK) has urged county governments to scale up budgetary allocations toward the cooperative sector, emphasizing its pivotal role in driving financial inclusion, rural prosperity, and food security. Speaking at a media briefing ahead of the event, CAK CEO Daniel Marube…

KRA defends new used car tax values amidst importer outcry

Sacco ReviewJuly 4, 202504 mins

The air in Kenya’s automotive sector crackles with contention as the Kenya Revenue Authority (KRA) staunchly defends its freshly unveiled price list for used motor vehicles, a list set to dictate the taxes on second-hand models entering the country from July 1, 2025. This move has ignited a fierce debate, particularly with the Car Importers…

MPs raise concerns over unpaid salary arrears at Nzoia Sugar Company

Sacco ReviewJuly 3, 202503 mins

Members of parliament, (MPs) have raised concerns about unpaid salary arrears at Nzoia Sugar Company. The legislatures said that employees have been passing through hardships due to arrears owed by the company even though government had assured the workers that it will cover their salaries and pensions for the first year as they face transition…

SACCOs still remains development haven to many despite Bank’s efforts to harmonize loan policies

Sacco ReviewJuly 3, 202509 mins

A move by commercial banks to cut their lending rates after intense pressure from monetary authorities, is attracting the attention of many financial services users. Do these latest cuts in the price of bank loans pose any threat to SACCOs, considered a serious player in the lending business and Kenya’s financial sector? “This trend to lower…

Why Coops uptake in Affordable Housing program remains low

Sacco ReviewJuly 3, 202506 mins

Housing Co-operatives, SACCOs as well as Investment units of these Societies appear to have given the state-run affordable housing program a wide berth. A spot check of various players in the Housing Cooperatives Segment reveals lack of interest in the program by most while others cite numerous bottlenecks. Savings and credit co-operatives (SACCOs) Top Executives…

Uchumi Supermarket wins Ksh26.7 million in franchise dispute

Sacco ReviewJuly 2, 202505 mins

Uchumi Supermarket PLC has emerged victorious in a commercial dispute with Aljazeera City Market after the High Court awarded the retailer KSh26.7 million in special damages for breach of a franchise agreement. The case revolved around an eight year franchise deal signed between the two parties in October 2018. The court found that Aljazeera had…

Stanchart turns to court to block billions pension payments to 629 former employees

Sacco ReviewJuly 2, 202503 mins

Standard Chartered Bank Kenya has blocked a KSh 7.09 billion payout to 629 former employees after obtaining a court order halting enforcement of a tribunal’s ruling. The decision comes after the Retirement Benefits Appeals Tribunal (RBAT) recently ordered the bank and its pension trustees to pay the retirees their revised benefits. The retirees, some of…

Govt, Equity Bank unveil bold reforms to propel SME growth

Sacco ReviewJuly 2, 202504 mins

In a bid to bolster Kenya’s economy, the government through the Ministry of Cooperatives and MSMEs Development has joined forces with Equity Bank to support Small and Medium-sized Enterprises (SMEs) in accessing capital, expanding markets, and building institutional capacity. Speaking at the second edition of the Annual SME Conference, Cabinet Secretary Wycliffe Oparanya emphasized that…

Oparanya unveils bold SACCO reforms after Ksh 13B scandal

Sacco ReviewJuly 2, 202504 mins

Co-operatives and MSMEs Development CS Wycliffe Oparanya stood before SACCO leaders at Kenya Union of Savings and Credit Co-operatives (KUSCCO).on 23 June, 2025, and delivered an upbeat progress report on the sector clean-up launched after the KSh 13 billion KUSCCO scandal. He said investigative files have been handed over for prosecution and promised that “every…