Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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The importance of Saccos as suitable vehicles for mobilising local savings and extending affordable credit to their members requires no belabouring. The impact of the Sacco movement on the country’s economy has over the years been hailed as significant and a success story in the region and beyond. Stories abound that some big Saccos are…
Inadequate supply of affordable housing, high incidental costs, slow property registration and titling process and high cost of land for construction have been identified as some of the reasons most Kenyans are unable to own modern houses, a new report has shown. According to Kenya Mortgage Refinance Company (KMRC) 2022 Annual Integrated Report and Financial…
The president’s advisor on matters of financial inclusion Moses Banda has revealed that Hustler Fund loan defaults has already hit Ksh2.9 billion. This figure has surpassed the default books held at commercial banks, Saccos and microfinance banks combined. Speaking during a recent interview, Banda revealed that the high defaults represent 29 per cent of the…
A cooperative society baseline survey conducted recently found that many Saccos have no websites, email addresses and other digital assets, resulting in the low level of digitization in cooperative societies governed by the State Department of Cooperatives (SDC). Earlier on, the SDC engaged in a campaign urging co-operative movements notably the Saccos to go digital…
Former State Department for Cooperatives Principal Secretary Ali Noor Ismail is a happy man. He says that the cooperative sector achieved a lot during his tenure. “I was appointed as the PS under the Jubilee Government in Labour and later on at the State Department for Cooperatives in 2015,” he says. He had a short…
Products and services are the lifeblood of Saccos hence investing in them is crucial to business growth and profitability. Saccos most often come up with new products due to changes in member preference, increasing competition, advances in technology or to capitalize on new opportunities. Innovative cooperatives thrive by understanding their members’ wants, making smart product…
By David Kipkorir Savings and Credit Co-operatives (Saccos) have been urged to turn their institutions into neobanks (online banks without traditional physical branch networks). Cynthia Wandia, the Chief Executive Officer (CEO) and Co-founder of Kwara Limited recently said that turning Saccos into neobanks will help them deal with industry challenges and build new customer bases….
By Malachi Motano Covid -19 pandemic disrupted a lot of operations across many sectors of the economy and Sacco sector was one such industry. To understand how the pandemic really affected the Saccos space in Kenya, the volatility, lessons learnt and remedies to adopt to caution future disruptions, Cynthia Wandia, core founder and CEO of…
By Rosemil Oduor Maureen Njoroge is among the five credit union professionals from four different countries awarded scholarship by the World Council of Young Credit Union Professionals (WYCUP). The scholarship includes an all-expense paid trip to Los Angeles for the 2020 World Credit Union Conference. The WYCUP Scholarship programme is open to nominees who are 35…
By James Wakahiu Real estate stakeholders in Kiambu County have lauded the move to digitize all the land records. They said this will make it easy for Kenyans to acquire their title deeds within a short period. According to the Wezesha Real Estate Company Director John Mwanu, technology in the lands registries will fasten searches…
