Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By David Kipkorir The coronavirus pandemic has induced a shift in cooperatives’ needs that will disrupt the movement ecosystem. As the world grapples with the pandemic, Savings and Credit Co-operative Society (Saccos) businesses have to reposition themselves to align with the demands of the “new normal”. Prioritizing good governance, digitalizing Saccos, and maintaining excellent and…
By Paul Ngugi Ruo Cooperation means living, thinking and working together. It is therefore important to uphold the socialist theme for effective running of cooperatives. Co-operation is based on the principal of self-help through mutual help, service above self and abolition of profits. Therefore, cooperative management is unique in its own way despite the fact…
By Fred Sitati One basic characteristic that distinguishes companies from cooperatives is that companies are associations of capital while cooperatives are associations of persons. Additionally, while companies strive to maximize profits for their shareholders, the same cannot be said of primary cooperatives that are voluntary self-help organizations that aim to solve members’ socio-economic and cultural…
By Victor Ochieng’ Networking, also known as self-marketing or social-marketing, entails circulating in business functions on a social level to create a wonderful web of useful connections. The basic philosophy of networking is ‘living is giving’. The heartbeat of networking is people caring about each other. As Theodore Roosevelt put it aptly, ‘People don’t care how much…
By Fred Sitati In the recent past, the cooperative movement has lost two flagship cooperative institutions to the state through expropriation. These cooperatives are Kenya Cooperative Creameries (KCC) and Kenya Planters Cooperative Union (KPCU). KCC was renamed New KCC while KPCU was rebranded to New KPCU Ltd. The new effect of this change is that…
By David Kipkorir The coronavirus pandemic has induced a shift in cooperatives’ needs that will disrupt the movement ecosystem. As the world grapples with the pandemic, Savings and Credit Co-operative Society (Saccos) businesses have to reposition themselves to align with the demands of the “new normal”. Prioritizing good governance, digitizing Saccos, and maintaining excellent and…
By Fred Sitati One basic characteristic that distinguishes companies from cooperatives is that companies are associations of capital while cooperatives are associations of persons. Additionally, while companies strive to maximize profits for their shareholders, the same cannot be said of primary cooperatives that are voluntary self-help organizations that aim to solve members’ socio-economic and cultural…
By Fred Sitati The treatment of member’s shares in Saccos has remained both contentious and emotive because of limited understanding of how members’ shares should be treated upon cessation of membership. That not only confuses ordinary members but also some of their leaders including those engaged in Sacco education and training. It will be recalled…
By Fred Sitati Annual general meetings remain the single most important occasions in the calendar for all cooperatives. They afford the ordinary members the opportunity to exercise their democratic rights and supremacy including limited to electing their leaders. It is at the AGMs that members have the opportunity to receive the statutory annual audited accounts…
By Sammy Chivanga Savings and Credit Cooperative Organizations (Saccos) members tapped Sh54.19 billion additional loans last year on the back of coronavirus disruptions that hurt incomes for households. The new credit saw the loan book of Deposit-Taking (DT) Saccos rise by 13.41 percent to Sh473.74 billion from Sh419.55 billion, being the fastest jump in four…
