Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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 serious players in the lending business and Kenya’s financial sector? “This trend to lower…
Ms. Ndegwa, in an interview with SACCO Review, said that the use of credit scoring as an assessment tool when considering whether to give a loan product to a SACCO member is already happening, particularly where SACCOs are offering mobile loans. “Members apply for mobile loans on online platforms using the mobile app and the…
Among the seven principles of cooperatives/saccos, principle number five talks about Education training and information to members and general public. It encourages that members, stakeholders and the public need to be taught, trained and given information on the operations of the cooperatives. This principle has been adopted and exercised in almost all cooperatives over a…
The Cabinet Secretary (CS) for Cooperatives and MSMEs Development Wycliffe Oparanya has urged Sacco members across countrywide to back the creation of a federation to regulate Saccos as proposed in the Cooperative Bill 2024 currently before Parliament. Speaking during the launch of the SACCO Societies Regulatory Authority (SASRA) Supervision Report, Oparanya asserted that creation of…
Nakuru Governor Susan Kihika has splattered monumental smile on Sacco members in the county with the actualization and operationalization of Co-operative revolving fund. The move is a huge boost as the previous county government regimes had failed to put in place the fund despites numerous promises. Equally with the same spirit of increasing capitalization for…
Imarika DT Sacco celebrated International Cooperatives Day, locally known as Ushirika Day, on Saturday, July 6, 2024. The Sacco Chairman John Nziro, Board of Directors, CEO George Yongo Ngala, and management, along with other key figures, gathered to mark the 102nd Ushirika Day. Kilifi County Governor Gideon Mung’aro was also in attendance. The Ushirika Day…
Active members of a cooperative are more likely to be assisted by their respective entities in case of any unforeseen challenges, a recent research study has shown. According to a Cooperative Resilience Longitudinal Study in Kenya, which was conducted for the last 5 years, about 82 per cent of cooperative members expressed certainty that if…
James Kinuthia was a member of one of the biggest Saccos in the country; he was employed and used to contribute Ksh1,000 monthly. In the year 2001, Kinuthia lost his job, rendering him unable to make the monthly deposits. Subsequently, he withdrew his deposits, receded to the village and lost contact with his Sacco. Little…
Cooperatives and MSME Development Cabinet Secretary Simon Chelugui has issued statement moments after being sacked. In a statement shared on X, Chelugui thanked President William Ruto for entrusting and giving him an opportunity to serve the people of Kenya under his administration. While quoting bible, Chelugui thanked Ruto and Kenyans and promised to support Ruto…
Cooperative sector stakeholders are now waiting to see if the President Willaim Ruto will keep the Ministry of Co-operatives and Micro, Small and Medium Enterprises Development as standalone ministry or it will be absorbed by other ministries. This is after President dismissing all members of his Cabinet including Attorney General. Ruto announced that only Prime…
