Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
If you spent a day walking through the slums of Kibra or Mathare and later strolled through the leafy suburbs of Muthaiga or Karen, you would understand that the government’s affordable housing scheme is not just about buildings – it is about restoring the dignity of human life. The contrast is more than just about…
Trade is a major part of how the world works. Countries buy and sell goods and services across borders to meet needs, support industries, and build relationships. But trade is not always free. Sometimes, governments place taxes on goods that come from other countries. These taxes are called tariffs. In the United States, tariffs have…
In recent times, rumors have swirled around how some Savings and Credit Cooperatives (Saccos) have been hit by a run, and while it might be true that some Saccos might have issues, it is not true that these financial institutions as a vehicle for lending and saving are on trial. True, like a savings instrument,…
Within Kenya’s healthcare system lies a growing threat: medical debt. Many households, particularly those in low-income brackets, struggle to pay their medical bills, often forced to choose between their health and financial stability. This presents a critical opportunity for cooperative societies to step in by running health facilities or offering medical insurance cover or credit…
A move by commercial banks to cut their lending rates after intense pressure from monetary authorities, is attracting the attention of many financial services users. Do these latest cuts in the price of bank loans pose any threat to SACCOs, considered a serious player in the lending business and Kenya’s financial sector? “This trend to lower…
A recent revelation that a dead auditor certified the financial statements and accounts of the now financially crippled Kenya Union of Savings and Credit Cooperative Society (KUSCCO) is raising questions on whether or not members of any Society should trust the opinion and audited accounts presented by these esteemed professionals. It also raises the lid…
During a Cabinet meeting chaired by President William Ruto in March this year at State House, key amendments to the Sacco Societies Act, 2008, were approved in a bid to enhance the stability, efficiency, and competitiveness of the country’s Savings and Credit Cooperatives Societies (SACCOs). The proposed reforms, which are outlined in the Sacco Societies…
The importance of financial planning education to co-operative society members, especially those in Savings and Credit Co-operative (Sacco) Societies cannot be wished away. Financial planning, which involves the process of creating a comprehensive strategy to manage one’s finances and achieve their financial goals, remains one of the most critical economic wheels driving co-operative members’ wealth…
The Office of the Data Protection Commissioner (ODPC) has called on members of the public to exercise their rights as outlined in data protection laws to guard against misuse by organizations. The Data Commissioner, Immaculate Kassait, emphasized that reporting cases of data misuse will enable the ODPC to investigate within 90 days, leading to determinations…
Financial communication, which refers to the process of disseminating financial information to stakeholders such as investors, analysts, and the general public, is increasingly becoming an important aspect in the corporate world. It encompasses a wide range of activities, including the preparation and release of financial statements, investor relations, and financial reporting. It is important to…
