National News - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

SACCOs urged to adopt new technology to compete effectively with banks

Sacco ReviewMay 23, 202502 mins

Savings and Credit Cooperative Organizations (SACCOs) have been challenged to adopt new technology to penetrate in the current business market. Speaking during leaders’ meeting and launch of Ushirika activities Cooperative Bank of Kenya vice chairman Macloud Malonza said saccos should also intensify investments in product development to endure the current market competition. Malonza said Saccos…

SACCOs are preferred choice for affordable and accessible loans, KNBS survey indicates

Sacco ReviewMay 23, 202503 mins

Savings and Credit Cooperative Organizations in Kenya are emerging as a preferred choice for affordable and accessible loans as demand for housing in the country. According to the 2025 Economic Survey by The Kenya National Bureau of Statistics (KNBS), 31.8% of real estate firms partnered with SACCOs for financing arrangements in 2023, highlighting the growing…

DP confirms completion of Meru Industrial Park, affirms gov’t efforts to rejuvenate coffee industry

Sacco ReviewMay 23, 2025May 23, 202507 mins

The Deputy President Kithure Kindiki has confirmed that the construction of the Meru Aggregation and Industrial Park (CAIP) will be completed by the end of this year. DP Kindiki said the government is keen on completing and operationalizing the Meru Aggregation and Industrial Park by December. The national and county governments are building 47 CAIPs across…

Coffee Cooperatives tell Govt to focus on raising production, reject farmers’ direct payment plan

Sacco ReviewMay 22, 202508 mins

Coffee Cooperatives have urged the Government to focus on supporting farmers through their respective cooperative societies or unions to increase coffee production in the country. They argue that focus should be primarily on ensuring farmers have access to subsidized fertilizer, other farm inputs including chemicals and quality seedlings noting that this will put Kenya in…

Women-led SMEs boosted through Absa Bank, Women’s World Banking partnership

Sacco ReviewMay 20, 202506 mins

Women entrepreneurs across Kenya is set to benefit from Absa bank and Women’s World Banking partnership which aims at deepening their financial inclusion and promoting economic empowerment. This partnership was signed on the sidelines of the Women’s World Banking partners’ breakfast held in Nairobi. It will focus on enhancing Absa’s Women in Business (WIB) proposition…

fintech firm targets Ksh.6.5 billion capital raise to boost SACCO digitization in Kenya, Africa

Sacco ReviewMay 20, 202505 mins

Norwegian fintech firm Wakandi has launched to raise a capital of Ksh6.5 billion to fast-track the digitization of Savings and Credit Cooperatives (SACCOS) and cooperatives across Africa, with Kenya at the heart of its expansion strategy. Speaking in Nairobi during the signing of a partnership between Wakandi and Mastercard East Africa, Wakandi Group CEO Espen…

KUSCCO announces phase 1 auctioning of properties to recover Ksh 13billion lost funds

Sacco ReviewMay 19, 202503 mins

Kenya National Union of Savings and Credit Co-operatives (KUSCCO) has started auctioning houses and land of members who defaulted on mortgages after it was hit by a management scandal. The Sacco umbrella body seeks to cut losses occasioned by years of alleged mismanagement that saw its members lose Ksh 13 billion. Investors and home buyers…

KRA mulls tax review on cane by-products to curb smuggling from EAC neighbor

Sacco ReviewMay 19, 202505 mins

The Kenya Revenue Authority (KRA) is contemplating a comprehensive review of taxes imposed on sugarcane by-products to curb smuggling from the neighboring East African Community (EAC) partner states. This follows concerns from players in the sector over rising cases of smuggling of molasses, ethanol and alcoholic beverages through the porous borders with the neighboring countries….

CS Oparanya backs leasing of state-owned sugar factories as new strategic managers take over

Sacco ReviewMay 13, 202508 mins

Cooperatives cabinet secretary, Wycliffe Oparanya, has strongly backed the government’s decision to lease state-owned sugar factories, saying the move is long overdue and critical to reviving a struggling sector. Speaking as the transition process officially began, Oparanya disclosed that most of the state-owned mills were in deep financial crisis, with many operating at a loss for…

State halts gambling ads to curb addiction

Sacco ReviewMay 13, 2025May 13, 202505 mins

The Government has imposed an immediate 30-day ban on all gambling advertisements across media platforms in a move to combat the normalization of gambling and its negative effects on society. The directive was issued by the Betting Control and Licensing Board (BCLB) under the Ministry of Interior, led by Chairperson Dr. Jane Mwakali Makau. A…