Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Commercial banks became farmers’ top lender, overtaking Saccos. Saccos and Hustler Fund borrowing declined as farmers sought larger, flexible loans. Most loans funded farm inputs, while borrowing for machinery increased Commercial banks have overtaken Savings and Credit Cooperative Organisations (SACCOs) as the leading source of credit for Kenyan farmers, according to new data from the…
Stanbic Bank appoints Michael Mutiga as CEO, effective August 1, subject to CBK approval. Mutiga joins from Safaricom after senior banking roles at Citibank and Barclays. He succeeds acting CEO Abraham Ongenge following Joshua Oigara’s regional promotion Stanbic Bank Kenya has appointed Michael Mutiga as its new Chief Executive Officer (CEO), effective August 1, 2026,…
Boresha Sacco appoints Philemon Chebii acting CEO as Jacob Mengich retires. Chebii, a over 20-year Boresha Sacco veteran, takes over as acting CEO. Board names Philemon Chebii acting CEO pending substantive appointment Boresha Sacco has appointed Philemon Chebii as the Acting Chief Executive Officer (CEO) following the retirement of Jacob Mengich who has been holding…
Nairobi accounted for 27.4 per cent of Kenya’s economy, making it the country’s largest county economy, according to KNBS. Kiambu, Nakuru, Mombasa and Meru completed the top five county economies by Gross County Product. Nairobi also recorded the highest Gross County Product per capita, well above the national average. The Kenya National Bureau of Statistics…
SASRA says proposed SACCO Bill will establish a Deposit Guarantee Fund to protect members’ eligible savings. Regulator says reforms will strengthen liquidity management and improve stability across the SACCO sector. Clarification comes amid misinformation linking members’ savings to the National Infrastructure Fund. The Sacco Societies Regulatory Authority (SASRA) has clarified that the proposed Sacco Societies…
Ksh950 billion of Sacco assets already lent to members Saccos say Ksh1.2 trillion assets are not idle cash Sector clarifies loans account for nearly 80 per cent of Sacco assets Kenya’s Sacco sector has clarified that its Ksh1.2 trillion asset base does not represent cash held in bank accounts, noting that nearly 80 per cent…
Machakos Finance CECM Catherine Mutanu resumed office after a High Court order halted her impeachment. Mutanu said county revenue rose from Ksh2.1 billion to Ksh3.352 billion in the 2025/26 financial year. She attributed delayed Assembly payments to late submission of financial requests, not her department. Machakos County Finance, Economic Planning, Revenue Management and ICT County…
Parliament has dismissed claims that the proposed Sacco law will allow the government to access members’ savings or control Sacco management. The Bill seeks to strengthen regulation, improve financial stability and establish a secondary Sacco to provide shared services for member cooperatives. The National Assembly says the legislation is still undergoing public participation, with stakeholder…
Taita Taveta launched Gaye Rural SACCO to expand affordable credit for farmers. The SACCO will receive a Ksh3 million matching grant under NAVCDP. Leaders say the initiative will strengthen farming and boost rural incomes. Farmers in Taita Taveta County have for years turned to informal lenders and middlemen for credit, often at the cost of…
The National Assembly has dismissed what it called widespread misinformation surrounding the proposed Sacco Societies (Amendment) Bill, 2025, saying claims that the legislation would create a government controlled “super Sacco” or hand the President power over Sacco leadership are false. In a public statement, the Assembly said the Bill, which seeks to amend the Sacco…
