Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Money Market Funds (MMFs) and Savings and Credit Cooperative Organizations (SACCOs) are both money-saving instruments that have gained popularity in the country. And they both promise one thing — to make your money work for you. The two work in different ways therefore understanding their unique features before making a choice is vital. What are…
The Private Security Regulatory Authority (PSRA) has ordered all security firms to immediately stop remitting union contributions to the Central Organization of Trade Unions (COTU). In a letter dated April 15, PSRA Director General Fazul Mahamed said for years, private security have consistently deducted trade union fees from the private security guards and subsequently remitted…
Over time, Saccos are increasingly popular as a means of accessing financial services in the country. They are member-based entities which run on the principle of bringing resources together before providing affordable credit. Like other financial institutions that include microfinance, commercial banks and mobile lenders, they work day and night towards maximizing profit. Saccos have…
Imarika Deposit Taking Sacco has recorded remarkable growth in total assets amounting to Ksh13.1 billion. Its impressive performance has seen the SASRA annual report of 2022 rank the Sacco number 16 nationally in terms of assets base and number 11 in terms of profitability. Speaking during their Annual Delegates Meeting held at Travellers Beach Hotel…
It is a windfall season for active members of Saccos as their societies announce surprisingly high dividends at their Annual General Meetings (AGM) even as the multi-billion sub-sector employs different strategies to improve their services. The high dividend payments, which have given tidy returns to shareholders, come as a relief as they will be crucial…
The African Confederation of Co-operative Savings and Credit Associations (ACCOSCA) has partnered with VISA to launch Financial Inclusion in Kenya and Tanzania (FIKT) project to improve access and usage of formal financial services among underserved communities and small businesses. The project aims to leverage the strength of the Sacco sub-sector in Africa and the Visa…
Ndege Chai Sacco has doubled marketing efforts to attract more youthful members to the society. The Chairman Supervisory Paul K.Mutai told delegates that there was need to focus marketing efforts towards the younger generation to ensure sustainability of the Sacco adding, “as the economy improves opening up opportunities for employment and business for the youth,…
Machakos Governor Wavinya Ndeti has been feted by the World Bank for helping farmers to improve productivity through their cooperative societies. Governor Wavinya was awarded at the county offices in Mavoko on Wednesday April 3 for her collaborative efforts with the World Bank-funded Kenya Climate Smart Agriculture Project (KCSAP) to improve agricultural productivity among farmers….
Stima DT Sacco has Sacco achieved remarkable growth across all key indicators in the year ended December 31, 2023, this was revealed during the Sacco’s Investors briefing meeting in Nairobi. The Sacco which turns 50 years this year paid members dividends at a rate of 15 per cent and rebates at 11 per cent. This…
The managements of various Saccos in Mt Kenya region have intensified campaigns to educate their members on skills for prudent management of borrowed funds in a bid to tame increasing cases of default in loan payments. Most Sacco are still grappling with recovery of funds held in defaults by borrowers mainly attributed to prevailing economic…
