Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Renson Ireri With the continuous growth of Deposit-Taking Saccos in Kenya, and the positive reception given to the Sacco societies concept by Kenyans of different status, regions, age and professions, the future of the co-operative movement is very bright and needs to be well nurtured. Whereas the banking industry continues to face a myriad…
By Joseph Kamiri Kenya has undergone various changes since independence among them a growing population estimated at more than 45 million citizens today from a population of about eight million in the early 1960s. Based on the latest UN estimates, the country’s youth population is made up of around 10 million people, which is more…
Blockchain technology is the new kid in the block that could forever alter the digital landscape of the Sacco sector in Kenya. Blockchain is a distributed ledger that can keep track of the transactions happening in a number of machines and does not allow the retroactive alterations of records without the alteration of all subsequent…
The recent revelation by the Senior Deputy Commissioner, State department for Co-operatives Geoffrey Njang’ombe that loan defaulters owe Saccos over Sh8 billion does not augur well for the sector. Ridiculously, these loans have not been serviced over several years yet the defaulters are still earning their monthly incomes apart from owning assets worth billions of…
By Renson Ireri Kenya prides in continuous growth of co-operative societies over the years with the Co-operative movement now rated position one in Africa and seventh in the world, comprising over 15,000 registered co-operative societies according to the International Co-operative Alliance (ICA). The movement also controls our economy in a big way, accounting for around…
Savings and Credit Co-operative Societies (Sacco’s) have continued to play a significant role in promoting economic interest of their members. In Kenya, their role in uplifting lives in the community through financial inclusion cannot be overlooked. Saccos have helped members to mobilise savings and borrow in turn for investments in enterprises and personal development, thus…
By Mary Ndung’u The Kenyan housing sector is extremely ripe for profitable involvement and participation by the various players in the property value chain. From the soon to be launched Kenya mortgage refinance company (a concept developed and currently in the process of implementation by the National treasury), to the government’s big four agenda that…
By Mary Ndung’u According to data from Sacco Societies Regulatory Authority (SASRA) supervision report for the year 2016, the five largest Deposit taking Saccos based on turnover had a combined total of 39 branches. The Sacco with the highest number of branches in this category had 15. On the other hand, the 5 smallest deposit…
For many countries in Africa, the youth constitute over half of the population leading to debates about whether these group can be a driving force for change and improvement, or whether they represent a challenge to development as many youth experience high rates of poverty and unemployment. The youth in Kenya have feasible business ideas…
