Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By James Wakahiu Financial institutions all over the world are crippled by people who secure loan but fail to repay them, Thika West Sub-County Deputy Director of Co-op Development Catherine Mbuki has said. Speaking to members of Urithi Premier Sacco in Thika, Mbuki said defaulters had led to the collapse of many Saccos in the…
By Wesley Ken Having successfully attained the requisite asset base, Kimisitu Sacco Society is now officially in the tier one category of Saccos. To give its nod, the Sacco Society Regulatory Authority (SASRA) assesses the concentration risk of a DT-SACCO and its standing among its peer group in terms of total assets in order to…
By Tsozungu Kombe Mombasa County has registered twenty new co-operative societies. Mombasa County Co-operative Commissioner Malaki Tenai said the registered co-operative societies in the region are Saccos. He warned Sacco members in the area against politicising the operations of the societies. The Commissioner urged members to patronise saccos to enable them continue offering quality services…
By Benedict Ng’etich Sacco managers have been urged to undertake proper mapping and feasibility studies before opening more offices or branches. Bomet County Director of Co -operatives David Kerich regretted that some Saccos ended up incurring losses by paying rent on offices which were underutilised or were lying completely idle. “It is disheartening when a…
By Collins Akong’o Saccos which have embraced modern technology in service delivery have the competitive edge in the market. KUPPET Executive Secretary Taita Taveta County Shedrack Mutungi said use of technology will strengthen Saccos’ operations and ensure they withstand competition. He called on co-operatives leaders to fast-track the process of expansion to ensure the growth…
By Tsozungu Kombe Imarika Sacco has set aside Sh350 million for the construction of a modern office complex at the county headquarters in Kilifi town. Speaking during the Annual Delegates Meeting recently, the society’s Chief Executive Officer Daniel Masha disclosed that construction works is currently ongoing and phase one of the project has already been…
By Our Reporter Kilifi County Government will strive to ensure that it creates an enabling environment for the growth of co-operatives. The County Executive Committee Member in charge of Trade, Tourism and Co-operative Development Nahida Mohamed said the county will soon come up with policies on co-operative development. She said the legislation and policies will…
By Jane Wangeci Lamu Teachers Sacco is in the process of selling two of its branches so as to raise money to pay a Sh30 million loan the sacco has been servicing since 2013. According to the Sacco’s Chief Executive Officer Michael Kirui, the Sacco will dispose Witu and Faza branches. The proceeds will be…
By Stephen Makabila In a rare departure with tradition, where leaders are the ones put under the spotlight, the State Department of Co-operatives now wants individual Sacco members to be alert and hold the leadership of their respective Saccos to account. “We are putting Sacco members on notice. If your Sacco is not performing, ensure…
By Dennis Bett The County Government of Elgeyo Marakwet has created a revolving fund worth Sh10 million for Sacco’s across the county to empower them as well as reviving the dormant co-operatives. As part of the programme, the government will also pursue a welfare scheme programme for the co-operatives which will see members benefit at…
