Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
The primary purpose of a Sacco is to serve the community in which it operates. This is based on the understanding that co-operatives are not-for-profit enterprises, as the majority of the profit goes toward fulfilling the social, economic, and cultural needs of the community in which they operate. It is obvious that when a co-operative…
Dear Boda boda Riders I write this epistle to commend you for the indispensable role you play in our communities. Whether in the bustling streets of our cities or in the quiet corners of our villages, you remain a cornerstone of our transport system, serving millions with dedication, courage, and resilience. You are the unsung…
The recent heart-rending media reports on the sorry state of Koyasa Dispensary located in Kibish Sub-county of Turkana County left many Kenyans marveling at the way residents of that region survive in terms of healthcare. It was reported that the Dispensary in question was designed to serve a total of 5000 villagers but they had…
Savings and Credit Cooperative Organizations (SACCOs) have long been heralded as engines of financial empowerment, particularly in underserved and emerging markets. They provide a lifeline for millions by offering affordable credit, encouraging savings, and promoting economic inclusion. Yet, like any other financial or corporate institution, SACCOs are not immune to the inherent cycles of growth,…
In recent years, Savings and Credit Cooperative Organizations (Saccos) have become increasingly vital to the financial wellbeing of many Kenyans. They have allowed individuals, families, and small businesses to access credit, grow their savings, and benefit from cooperative economic models that prioritize mutual success over pure profit. However, as Saccos continue to evolve and introduce…
