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, 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…
By Fred Sitati Cooperatives, by their very definition, are formed to serve the socio-economic and cultural needs of their members. However, the majority of cooperatives in Africa are agro-based and financial in nature while aspects of social services are given a wide berth. In view of the challenges facing humanity globally courtesy of Covid-19 pandemic,…
By Fred Sitati The endemic cases of mismanagement in the cooperative movement have reached alarming proportions in the country according to the report released by the Ethics and Anti-corruption Commission (EACC) recently. The EACC Report is coming hot on the heels of the government creating an Anti-fraud Unit domiciled at the Sacco Societies Regulatory Authority(…
By Geoffrey Njang’ombe The Co-operative Movement in Kenya has mobilized savings to the tune of Sh776 billion and commands an asset base of Sh1 Trillion. It has granted members loans to the tune of Sh742 billion. This is big achievements for our country and we will continue providing a conducive environment for the growth of…
Ali Noor Ismail The Co-operative movement in Kenya is rated first in Africa with over 22,000 registered co-operative societies commanding a membership of over 14 Million and employing more than 500,000 Kenyans directly and another 1.5 Million indirectly. Co-operatives in Kenya have mobilized members’ savings and deposits of over Sh 732 billion, with an asset base of…
By Jackson Okoth It is quite disheartening that after sacrificing all their life savings and pumping their hard earned cash into Moi University Sacco Society, culprits, swindlers and thieves who stole from this co-operative society have taken to the hills and walking freely, leaving a distraught, helpless and penniless members. What is still not clear…
