Sacco Leader - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Delay by counties to remit staff contributions hampering smooth operations of Saccos

Sacco ReviewMay 2, 2024May 2, 202403 mins

The delays and sometime failure by counties to remit deductions to Saccos has hampered their smooth running and even risking liquidity. Saccos now say that employer institutions’ failure to honour their obligations of remitting Sacco deductions affects the financial performance of these firms, despite various policy and administrative measures being put in place to address…

Lands Committee wants Cooperatives Ministry to intervene over liquidation of Drumvale Sacco

Sacco ReviewMay 2, 2024May 2, 202405 mins

The Departmental Committee on Lands has put to task Ministry of Cooperatives officials in connection with the liquidated Drumvale Farmers Cooperative Society. The parliamentarians questioned the Principal Secretary for Cooperative Development Patrick Kilemi on events leading to the liquidation of assets of the Machakos based Cooperative Society that saw members losing over 500 acres of…

Nandi Saccos urged to develop products favourable to farmers to boost food security

Sacco ReviewApril 29, 2024April 29, 202404 mins

Nandi Deputy Governor Yulita Mitei has urged Saccos to develop products that are favourable to farmers to boost food security. Speaking at Kapsabet Showground during a two-day business trade exhibition organized by Kapsabet Showground in conjunction with Nandi County Government, Dr Mitei said the county administration has invested heavily in the agriculture sector calling on…

Over 1,000 boda boda operators receive free training in Uasin Gishu

Sacco ReviewApril 29, 202406 mins

Boda Boda Saccos in Uasin Gishu County have received a huge boost through training and award of licences by the Kenya Roads Board (KRB), county administration and Kenya Red Cross among other partners. The training and licensing process served to refine and authorize individuals to operate on the roads legally especially for some who may…

FOPPS Sacco, Co-operative Bank partner on Last Expense Policy Cover

Sacco ReviewApril 28, 2024April 28, 202405 mins

Former Public and Private Sector Cooperative Society (FOPPS) Sacco have entered into a contract with Cooperative Bank as the Last Expense Cover for its members. In a speech during the FOPPS Sacco Annual General Meeting at ACK Guest House in Amagoro, Busia County, National Chairman and founder Ben Akwara said the Last Expense Policy Cover…

Five risk management strategies for Saccos

Sacco ReviewApril 27, 202406 mins

Saccos benefit many people and in their daily activities they are exposed to a variety of risks — either internal or external. Internal risks are those within the organisation while external risks are outside the control of the Saccos. These risks make Saccos fail to meet their goals and members are the one affected. Among…

Troubled Metropolitan Sacco AGM ends unceremoniously in Kiambu

Sacco ReviewApril 26, 2024April 27, 202406 mins

Metropolitan Sacco 46th Annual General Meeting (AGM) that was taking place today at Kiambu High School ended unceremoniously as members demanded for financial reports. According to reports, the management of the Sacco said they did not have financial reports because SASRA had not approved them yet. The reports further indicate that members of the Sacco…

Join Saccos to get loans, Embu jua kali artisans advised

Sacco ReviewApril 26, 2024April 26, 202407 mins

Hesitance and lack of interest by young Jua Kali artisans in welding and metal work related sector in Embu County to join or form Saccos has been blamed for the continued low access to finances to expand their businesses. Such finances including loans and government funds which are readily availed to self-help groups and Saccos…

Fireworks expected as troubled Metropolitan Sacco holds AGM in Kiambu today

Sacco ReviewApril 26, 202406 mins

Metropolitan Sacco will hold its 46th Annual General Meeting (AGM) today at Kiambu High School. In a notice to members signed by its honorary secretary of the Sacco David Waweru Mwangi, the members will gather to adopt the annual reports and financial statements for the past two years and confirmation of the management and Supervisory…

Why there is mismatch between proposed intergovernmental cooperative forum and defunct district committees

Sacco ReviewApril 26, 2024April 26, 202407 mins

One of the reform measures introduced by the Ministry of Cooperatives upon operationalisation of the Cooperative Societies Act, No 12 of 1997 was the creation of DCDCs vide a Commissioner’s Circular letter. This came in the wake of diminished donor funding to the sector due to what was infamously referred to as “donor fatigue”. The…