Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Despite rapid advancements in digital banking, Kenya’s Savings and Credit Cooperative Societies (SACCOs) continue to prioritize opening brick-and-mortar branches—especially in rural areas where a significant number of their members, such as peasant farmers, reside. Annual reports for the year ending December 31, 2024 and outlooks for 2025 reveal that several dynamic deposit-taking SACCOs plan to…
Ramifications of a move by Donald Trump’s administration to cut off financial assistance by the United States Agency for International Development (USAID) to developing countries including Kenya, will begin to be felt in the coming months. To be hit hard are key sectors of the Kenyan Economy, including the Cooperative sector that has in the…
Tea farmers have a reason to smile after earnings from this week’s Mombasa auction rose slightly. According to data from Tea Brokers East Africa Ltd, tea factories earned Ksh 904.1 million, up from Ksh 902 million last week, following the sale of 3.72 million kilos of tea. The sale, held in Mombasa, saw increased demand and participation…
The cooperative finance sector in Kenya is under growing scrutiny as fresh revelations expose extensive financial mismanagement and fraud across savings and credit cooperatives (SACCOs), with annual losses exceeding Ksh3 billion. According to the Sacco Societies Regulatory Authority (SASRA), these massive losses are attributed to poor governance, unremitted member contributions, liquidity challenges and a widespread…
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…
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…
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…
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…
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…
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…
