Opinions & Commentaries - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Why SACCOs should embrace digitization of products, services

Sacco ReviewAugust 15, 2024010 mins

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…

Government should stop the aggressive taxation drive

Sacco ReviewJune 25, 202408 mins

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….

How to transform financial setbacks into success

Sacco ReviewJune 14, 202408 mins

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…

How to improve governance of cooperatives, restore members’ confidence

Sacco ReviewMay 11, 2024May 11, 202406 mins

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…

Why there is mismatch between proposed intergovernmental cooperative forum and defunct district committees

Sacco ReviewApril 26, 2024April 26, 202407 mins

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…

The silent killer of Kenyan Saccos

Sacco ReviewApril 25, 2024April 25, 202407 mins

In the fast-paced arena of financial management, Kenya Saccos serve as beacons of resilience and innovation, navigating turbulent cash flow through strategic foresight and careful planning. As a cornerstone of financial inclusion and community empowerment, Saccos play a critical role in Kenya’s economic fabric and serve as an important conduit for savings mobilisation and credit…

Draft Cooperatives Bill needs to reflect proposals in Sessional Paper No 4 of 2020

Sacco ReviewApril 22, 2024April 22, 202408 mins

The enactment of the Cooperative Societies Act, No 39 of 1966 was the outcome of the Sessional Paper No. 10 of 1965 on “African Socialism and its Application to Planning in Kenya”, while the subsequent enactment of the Cooperative Societies Act, No 12 of 1997 (Amendment 2004) was anchored on the Sessional Paper No. 6…

Sacco re-branding is a great idea if properly planned

Sacco ReviewApril 18, 202404 mins

A number of Saccos have rebranded to breathe a new life into their existence. The hope is that with a change they will be able to capture the imagination of members, both existing and prospective, in a way that will bring positive energy and reinvigorate the many lattices that may have been rendered ineffective by…

How Saccos can assist members to spread out their investments

Sacco ReviewApril 17, 2024April 17, 202405 mins

Saccos are democratically owned and member-controlled financial institutions that play a pivotal role in Kenya’s financial services economy. These credit cooperatives more often than not provide a wide range of products and financial services to their members, including but not limited to savings, loans, insurance and investment. Saccos can play an important role in assisting…

When all said and done, Saccos have to make profits

Sacco ReviewApril 16, 202409 mins

Over time, Saccos are increasingly popular as a means of accessing financial services in the country. They are member-based entities which run on the principle of bringing resources together before providing affordable credit. Like other financial institutions that include microfinance, commercial banks and mobile lenders, they work day and night towards maximizing profit. Saccos have…