Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Personal finance refers to a financial management process which an individual or a family unit engages in to budget, save and spend financial resources over a given period of time, considering various financial risks and future life events and expectations. Financial experts argue that personal finance literacy is critical in helping an individual make rational…
Provision of credit facilities is the core mandate of Savings and Credit Co-operative Societies (Saccos). Therefore, prudential credit management practices are key to the facilitation of efficient management and administration of the Sacco loans portfolio. They ensure equity in the distribution of funds to members, thus encouraging efficiency in cash flows. Saccos are always guided…
Cooperatives are an alternative form of economic organization that are based on democratic decision-making and the equitable distribution of benefits among members. In recent years, there has been a growing interest in how cooperatives can promote gender equality and empower women. Cooperatives can be particularly beneficial to women because they offer a space for collective…
On August 27, 2010, Kenya adopted a new Constitution, quickly forming the Transition Authority whose key mandate was to take stock of government assets across the country and oversee their transfer to counties, where applicable. As the country gears up to mark the 10th anniversary of the devolution, there are so many things to take…
On August 27, 2010, Kenya adopted a new Constitution, quickly forming the Transition Authority whose key mandate was to take stock of government assets across the country and oversee their transfer to counties, where applicable. As the country gears up to mark the 10th anniversary of the devolution, there are so many things to take…
The government recently warned Saccos against the culture of declaring ‘impractical dividends’ to members at the expense of financial stability of the institutions. The government’s argument was that if not checked, the trend would lead to the collapse of many Saccos. Since their inception, Saccos have become very popular among Kenyans and provided financial services…
The recent media reports highlighting how one Sacco had lost billions of shillings through its leaders should serve as a wakeup call to all industry players. This may as well be a tip of the iceberg as cases of discontent abound in a number of Saccos across the country. But exactly what could be the…
As a financial year comes to an end, cooperatives need to review the year’s performance through the annual general meetings. Cooperatives are democratic organizations that are controlled by members, who actively participate in setting policies and making decisions. Members are the source of all authority and the basic unit of democratic control. Members need to…
The main reason for the establishment of a Sacco is to bring together members of the community with a common need. The Saccos are based on the cooperative values of self-help, responsibility, democracy, equality, equity and solidarity. These values are easy to maintain since the Saccos are formed by people who know each other very…
Rural Saccos play a critical role in providing financial solutions to rural communities as they offer savings and loan facilities to members, who are often smallholder farmers. However, many rural Saccos face challenges that hinder their effectiveness in delivering financial services. One of the biggest challenges facing rural Saccos is poor governance and management. In…
