Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Information and ICT Cabinet Secretary Eliud Owalo has revealed that the national government has rolled out a major economic blueprint revolving around infrastructure, agriculture, trade and other forms of investments for Nyanza region to spur development. Speaking in Kisumu, the CS noted that youth and women who are engaged in business should form societies which…
Retirement Benefits Authority (RBA) Communications Officer Alex Mugambi has revealed that the authority has registered 41 individual retirement benefit schemes for employees aiming to save for retirement. Speaking during a media sensitization forum in Kakamega, Mugambi stated that the authority responds in a timely manner to the needs of the stakeholders and that it conducts all…
The rush by Saccos to embrace mobile and internet banking as a replacement for the brick and mortar branches is proving to be a weak link in the fight against fraud in Saccos. A recently released SASRA report covering 2021 and 2022 shows that rogue Sacco staff are breaching internal systems and riding on mobile…
The Cabinet has approved the release of an additional Ksh4 billion for coffee farmers. It had earlier on released Ksh3 billion . This implies that farmers will now earn Ksh80 for a kilogramme of cherry from the current Ksh20 as an advance payment. To re-energise the Nairobi Coffee Exchange, the government will also search for better markets for…
A section of Gem residents have vowed to stop a mining company from forcefully evicting them from their ancestral land in order to pave way for the extraction of gold. Through a Community Based Citizen Forum, the residents accused the ministry of mining and local leaders of coercing them into leaving their ancestral land without…
Cabinet Secretary (CS) for Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Development Simon Kiprono Chelugui has urged cooperatives to invest in technology to tackle climate change, which is a drawback to the development of the cooperative movement. The CS said climate change has negatively affected the cooperative movement, hence the need to take bold…
One major hindrance to efficient service delivery among Saccos in Kenya is delayed remittances from some employers. Unfortunately, delayed remittances happen despite the fact that under Section 35 of the Cooperative Societies Act, Cap 490, there are clear legal provisions intended to ensure recovery of delayed remittances upon expiry of seven (7) days of the…
Intensive marketing and customer-friendly financial solutions have seen Saccos overtaking commercial banks in deposits and customer numbers. Experts have attributed this revolution to adherence to guidelines set by regulatory bodies, including the Central Bank of Kenya (CBK), attractive loan interest rates, quick processing of loans, and favourable returns through interest and end of year dividend…
The New Kenya Planters Co-operative Union (NKPCU) has highlighted a number of ways in which coffee farmers can expand access to the international market, including market exposure through exhibitions to unlock the potential of the local industry. Giving his presentation on export marketing and farmer financing during the inaugural Cooperative Movement Stakeholders’ Annual Conference, NKPCU…
Sacco Societies Regulatory Authority (SASRA) has plans to create a framework that will see the National Treasury (NT) deducting funds directly from exchequer-funded entities to Saccos. SASRA Chairperson Jack Ranguma said county governments and their legislative assemblies, as well as public universities and tertiary colleges, have continued to top the list of defaulters of Sacco…
