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

Kilifi’s Imarika Sacco gets new treasurer

Sacco ReviewApril 1, 2024April 1, 202403 mins

The vibrant Imarika Sacco Limited in Kilifi County has a new treasurer, Sylvester Charo. Speaking to Sacco Review in Kilifi town recently, Charo who has been the Imarika Sacco Secretary has replaced the former Treasurer, Reuben Gideon Kaphu who has retired from the teaching profession after attaining the retirement. While talking to Sacco Review from…

Miners in Migori form cooperative to eliminate cartels

Sacco ReviewMarch 30, 2024March 30, 202402 mins

Miners in Rongo Sub-county have formed a marketing cooperative society to protect members from preying cartels and uplift their living standards. The North Kamagambo Mining and Marketing Cooperative Society based in Rongo Sub-county is only four months old and going strong. The society recently held a one day seminar in Rongo town to sensitize members…

GDC Sacco seeks to grow its asset base to KSh8.5 billion

Sacco ReviewMarch 30, 202408 mins

GDC Sacco Society Ltd (GDC) has embarked on an ambitious plan to grow its asset base to KSh8.5 billion as it seeks to be among the top 50 Saccos in the country. The Sacco which currently has over 34,000 members, who are mainly dairy farmers in the agriculture-rich Githunguri Sub-county in Kiambu County, is keen…

Kenya to host 24th SACCA Congress in October

Sacco ReviewMarch 28, 2024March 28, 202403 mins

Kenya is set to host the 24th Savings and Credit Cooperatives Associations (SACCA) Congress on October 6-12, 2024 in Naivasha, Nakuru County. The 2024 SACCA Congress will be organised by African Confederation of Cooperative Savings and Credit Associations (ACCOSCA) in collaboration with the Ministry of Cooperatives and MSMEs Development and Kenya Union of Savings and…

A tribute to the fallen hero in cooperative movement

Sacco ReviewMarch 5, 2024March 6, 202406 mins

The curtain has fallen on the man, Murungi Kibanga Manyara, who bestrode the country’s cooperative movement landscape like a colossus for close to half a century! The cruel hand of death has indeed robbed the country of its icon on matters cooperative law. The late Kibanga, who breathed his last on March 1, 2024, after…

Kenya to host African cooperatives congress

Sacco ReviewMarch 4, 2024March 5, 202403 mins

Savings and Credit Cooperative Annual (SACCA) Congress will be held in Kenya later this year. Plans to host the 2024 SACCA Congress in the country have started in earnest with the constitution of a high-level working group. The Congress will go along the same lines as the previous Continental Congresses that made important contributions towards…

Kilifi based Imarika Sacco reports full-year 2023 results

Sacco ReviewMarch 2, 202402 mins

Kiliifi based Imarika Sacco recorded a net profit of KSh323.8 million for the year ending December 31, 2023. A year earlier it posted a net profit of KSh397 million. Total assets for the Sacco rose from KSh13 billion as compared to KSh11 billion in 2022. READ ALSO: Imarika Sacco gets a new chairman In itd…

Insider Lending: A dilemma for Saccos and financial sector

Sacco ReviewFebruary 29, 2024February 29, 202409 mins

Insider lending is a process where a Savings and Credit Co-operative Society (Sacco) or a financial services institution advances loans to its officers or directors. However, in some developed countries, such as the United States, it is a requirement that such loans are charged at the same interest rate, repayment terms and credit evaluation criteria…

SASRA increases approved auditors to accommodate additional Saccos

Sacco ReviewFebruary 29, 2024March 1, 202405 mins

The Sacco Societies Regulatory Authority (SASRA) has increased the number of audit firms approved for auditing Saccos under its supervision to 365 to accommodate the additional cooperatives. The latest figure for the 2024 auditing of Saccos means an additional 92 audit firms have now been cleared to check the books of Saccos, up from 273…

Embrace technology to increase visibility, Chelugui advises Saccos

Sacco ReviewFebruary 27, 2024February 28, 202405 mins

Savings and Credit Cooperative Societies (Saccos) across the country have been challenged to embrace innovation and technology. The Cabinet Secretary for Cooperatives and Macro Small and Medium Development Simon Chelugui noted that doing so will help Saccos to increase their accessibility and visibility. He was addressing the 9th Annual Sacco Leaders Convention Meeting in Mombasa…