Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
In recent years, Savings and Credit Cooperative Organizations (Saccos) have become increasingly vital to the financial wellbeing of many Kenyans. They have allowed individuals, families, and small businesses to access credit, grow their savings, and benefit from cooperative economic models that prioritize mutual success over pure profit. However, as Saccos continue to evolve and introduce…
In Kenya, Savings and Credit Cooperative Societies (Saccos) have long been pillars of financial stability and community support. They offer accessible loans, promote a saving culture, and provide an alternative to traditional banking for millions. Saccos are deeply trusted institutions, often regarded as safe havens for personal savings and a dependable source for credit during…
As the business landscape goes through major transformations, those at the top of various business organizations, particularly Savings and Credit Co-operative Societies (Saccos) must be awake to the reality that leadership isn’t just about holding a title or occupying a corner office in an organization. In this case, they should learn to understand that, leadership…
In recent years, the digital economy has emerged as a transformative force with the potential to drive significant economic growth and job creation. For a country like Kenya where youth unemployment is a pressing issue, the digital economy offers a promising avenue to create opportunities for the millions of young people who are currently unemployed….
The growth of the Sacco sector in Kenya has shown how important they are in providing affordable financial services. They have enabled easier access to savings and credit for the middle and low-income segment for both household and enterprise development thus impacting the economic growth in both urban and rural areas. Many a time we…
Savings and Credit Co-operative Societies (SACCOs) across the continent of Africa are embracing digitization rapidly to catch up with the fast changing business and financial services landscape globally. Ranging from the use of digital core banking systems to customer support to tech-enabled information management systems, SACCOs are transforming age-old business models, facilitating greater efficiencies and…
The latest Finance Bill has generated considerable debate and concern among ordinary Kenyans. The bill proposes several measures to correct the budget deficit, but one of the most controversial aspects is the dependence on high taxation. Despite its apparent simplicity, this method frequently results in damaging outcomes for both our financial standing and daily activities….
In managing our finances and personal development, this is like a metaphorical transformation of milk to yogurt, and then to cheese, revealing a profound truth about the nature of mistakes and their ability to create value. Just as cheese is a more valuable dairy product than both milk and yoghurt and sour grape juice melts…
Kenya is reputed to have the most vibrant cooperative sector in Africa. Financial cooperatives have grown exponentially necessitating the enactment of the sector-specific Sacco Societies Act, 2008, to regulate them. It is believed some Saccos have mobilised more deposits compared to some licenced commercial banks operating in the country. But what then ails this critical…
One of the reform measures introduced by the Ministry of Cooperatives upon operationalisation of the Cooperative Societies Act, No 12 of 1997 was the creation of DCDCs vide a Commissioner’s Circular letter. This came in the wake of diminished donor funding to the sector due to what was infamously referred to as “donor fatigue”. The…
