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SASRA decries SACCOs slow adoption of credit scores in loan appraisals

Sacco ReviewJuly 4, 2025July 4, 202509 mins

The Sacco Societies Regulatory Authority (SASRA) has expressed concern that, despite the immense value of credit scoring, SACCOs have been slow to fully adopt credit referencing, resulting in gaps in credit decision-making. The regulator also highlights challenges in implementing effective credit-scoring systems, which have hindered responsible lending and undermined long-term financial stability. However, some senior…

Govt, Equity Bank unveil bold reforms to propel SME growth

Sacco ReviewJuly 2, 202504 mins

In a bid to bolster Kenya’s economy, the government through the Ministry of Cooperatives and MSMEs Development has joined forces with Equity Bank to support Small and Medium-sized Enterprises (SMEs) in accessing capital, expanding markets, and building institutional capacity. Speaking at the second edition of the Annual SME Conference, Cabinet Secretary Wycliffe Oparanya emphasized that…

Oparanya unveils bold SACCO reforms after Ksh 13B scandal

Sacco ReviewJuly 2, 202504 mins

Co-operatives and MSMEs Development CS Wycliffe Oparanya stood before SACCO leaders at Kenya Union of Savings and Credit Co-operatives (KUSCCO).on 23 June, 2025, and delivered an upbeat progress report on the sector clean-up launched after the KSh 13 billion KUSCCO scandal. He said investigative files have been handed over for prosecution and promised that “every…

Agro-based SACCOs poised for growth amid boosted budget

Sacco ReviewJuly 2, 2025010 mins

Increased budgetary allocations to Kenya’s agricultural sector are expected to trigger a surge in demand for loans among members of agro-based SACCOs. This rise in credit demand is seen as a chance for SACCOs to enhance their loan portfolios, particularly for those directly supporting agriculture and rural development. With expectations of improved crop and animal…

Key resolutions during 2025 Africa SACCO meeting in Addis

Sacco ReviewJuly 2, 202504 mins

SACCOs have been urged to embrace prudential regulatory frameworks by working closely with African Confederation of Cooperative Savings and Credit Associations (ACCOSCA) and Policymakers to strengthen SACCOs Regulation for financial stability and also unlock their full potential as engines of inclusive economic transformation in Africa. This was arrived at during the official close of the…

President Ruto leads celebrations of World MSMEs Day 2025, says MSMEs are engines of economic growth

Sacco ReviewJune 27, 202504 mins

President William Samoei Ruto has led the country in commemorating World MSMEs Day 2025 at Kenyatta International Conference Centre, Nairobi. Ruto said Small enterprises are the engines of economic growth since they drive innovation and but also support livelihoods adding that the sector creates the largest number of jobs and generates earnings for young people and…

Cooperatives urged to apply for KJET project before June 30th deadline

Sacco ReviewJune 27, 202503 mins

Ministry of Co-operatives and Micro, Small and Medium Enterprises (MSMEs) has called on Cooperatives, Associations and other cluster-based entities to apply for Kenya Jobs and Economic Transformation (KJET) project before June 30th deadline. The KJET project is 5-year Government of Kenya, (GoK) project funded by the World Bank (2024-2029) whose project development objective is ‘To…

PS Hinga reveals ambitious housing plan as Housing levy surpasses ksh120 billion mark

Sacco ReviewJune 27, 202507 mins

Principal Secretary for Housing and Urban Development Charles Hinga has announced that the government has successfully collected approximately Ksh120 billion through the Housing Development Levy in a significant update on the Affordable Housing Program. Speaking in Mombasa at a meeting with the National Assembly Departmental Committee on Housing, Urban Planning and Public Works, Hinga revealed…

Tea, coffee packaging materials to be zero-rated as Ruto signs Finance Bill 2025 to law

Sacco ReviewJune 26, 202503 mins

President William Ruto has signed the Finance Bill 2025 into law to ease the cost of doing business, and bolster economic growth across key sectors. The bill which was passed by the National Assembly on June 19, amends six key tax laws: the Income Tax Act, the Value Added Tax Act, the Excise Duty Act,…

Counterfeit, illicit trade cost the government billion losses annually; ACA reveals

Sacco ReviewJune 10, 2025010 mins

Kenya loses an estimated Ksh100 billion annually to counterfeiting and illicit trade the Anti-Counterfeit Authority (ACA) has revealed. ACA’s Deputy Director-Research and Policy, Henry Maina, said statistics indicate that the government revenue loss was estimated at Ksh129.72 billion and Ksh153.1 billion in 2017 and 2018, respectively. According to the National Baseline Survey on Counterfeit and…