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

Kisii Youth Bunge Sacco re-brands to Gusii Youth Bunge Sacco Limited

Sacco ReviewApril 18, 2024April 18, 202405 mins

Kisii Youth Bungee Sacco has re-branded to Gusii Youth Bungee Sacco Limited to accommodate the increasing membership both in Kisii and Nyamira counties. The new Chief Executive officer (CEO) Clive Ontita who replaced Evans Makori, who joined Nyaribari Chache Constituency office, said the Sacco has increased its membership tremendously attributing it to aggressive recruitment done…

Sacco re-branding is a great idea if properly planned

Sacco ReviewApril 18, 202404 mins

A number of Saccos have rebranded to breathe a new life into their existence. The hope is that with a change they will be able to capture the imagination of members, both existing and prospective, in a way that will bring positive energy and reinvigorate the many lattices that may have been rendered ineffective by…

TSC stopped 11,310 teachers’ remittances to Metropolitan Sacco

Sacco ReviewApril 18, 202404 mins

The Teachers Service Commission (TSC) released a list teachers whose remittances to Metropolitan Sacco had been stopped and those who are still active members. In a letter dated April 4, signed by TSC CEO Dr Nancy Macharia, directed to clerk of Senate, she said 11,310 teachers’ remittances were stopped while 2,401 teachers were still members…

286,000 locally assembled phones sold since October 2023, says CS Owalo

Sacco ReviewApril 18, 2024April 18, 202402 mins

Some 268, 000 government-backed locally assembled smartphones have been sold to Kenyans since the first consignment was unveiled to the market end of October last year. The figure translate to 80 per cent of the 330, 000 phones assembled. Cabinet Secretary for Information, Communications and the Digital Economy, Eliud Owalo speaking at Aga Khan University’s…

Nairobi fourth wealthiest city in Africa with 4,400 super-rich individuals

Sacco ReviewApril 17, 2024April 17, 202403 mins

The latest African Wealth Report for 2024 shows places Nairobi as fourth wealthiest City as South Africa cities and regions dominate the Top 10 wealthiest on the African continent. According to the report, the number of super-rich in Kenya’s Capital City increased by 25 per cent to 4,400 in 2023 compared to more than 10…

Steady rise of Joyce Ndegwa from clerk to CEO of Mentor Sacco

Sacco ReviewApril 17, 202406 mins

Mentor Sacco Chief Executive Officer (CEO) Joyce Waceke Ndegwa is one of the most highly rated female leaders in the cooperative sector in Kenya. Waceke, the lead actor in this increasingly illustrious cooperative society, exhibits deep knowledge of the Sacco sub-sector. “You need to understand your industry thoroughly; new and emerging trends, and threats and…

Asili Sacco recruits a record 3,500 members in 2023 as it casts net wider

Sacco ReviewApril 17, 2024April 17, 202403 mins

Asili Deposit Taking Sacco Society Limited, taking a huge leap in performance across board, pulled a major stunt in membership as 3,500 more were added into the fold in the year ended December 2023. In financial reports released by the Sacco National Chairman Evans Kegode Aluda during the Sacco Annual Delegates Meeting (AGM) in KICD…

Iconic Hilton Hotel in Nairobi’s CBD put up for sale

Sacco ReviewApril 17, 2024April 17, 202403 mins

Interested parties have been invited to purchase iconic Hilton Hotel situated in the Nairobi’s Central Business District. Both State and Hilton International Hotel Limited on Tuesday, April 16, separately invited expressions of interest from willing buyers to acquire 100 per cent equity stake in the hotel. In an advertisement published in one of the dailies…

How Saccos can assist members to spread out their investments

Sacco ReviewApril 17, 2024April 17, 202405 mins

Saccos are democratically owned and member-controlled financial institutions that play a pivotal role in Kenya’s financial services economy. These credit cooperatives more often than not provide a wide range of products and financial services to their members, including but not limited to savings, loans, insurance and investment. Saccos can play an important role in assisting…

Defaulters on Sacco loans accused of denying others chance to borrow

Sacco ReviewApril 17, 2024April 17, 202404 mins

Kericho County Commissioner of Cooperatives Dr Leonard Otii has said defaulters on loans and those who delay repayments are denying other members a chance to use the same facility. Speaking during Simba Chai Sacco’s Annual Delegates Meeting (ADM), Otii was concerned about the high rates of delinquency witnessed in some societies, which he cautioned the…