Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Our Reporter Homa Bay County Women Sacco has received financial boost to strengthen its operations. The society received Sh10 million from Women Enterprise Fund (WEF) and two million shillings from the County Government. Homa Bay County Woman Representative Gladys Wanga said the Sacco was established to enable women be economically independent. “The funds will…
By Kamundia Muriithi Residents of Embu County fear losing their money to a savings and credit cooperative organization they had invested in. The society allegedly promised them that they could get loans of up to 10 times their savings and at eight percent interest rate per annum once they joined it. The Sacco started operations…
By John Majau The Meru County Government in partnership with the Co-operative Bank has introduced a new payment model for coffee farmers which is meant to speed up the payment of cherry once it is delivered to the factory. The new format dubbed the “coffee-cash model” will reduce the lengthy waiting periods farmers undergo before…
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…
