Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By John Majau Kenya exported miraa (khat) worth Sh221 million in four days since the recent resumption of the Somalian market highlighting the significant role that the commodity is playing in the economy. Head of Miraa Pyrethrum and other Industrial Crops Felix Mutwiri said the country had exported 81.4 tonnes of the stimulant to Mogadishu since the…
By David Kipkorir The coronavirus pandemic has induced a shift in cooperatives’ needs that will disrupt the movement ecosystem. As the world grapples with the pandemic, Savings and Credit Co-operative Society (Saccos) businesses have to reposition themselves to align with the demands of the “new normal”. Prioritizing good governance, digitalizing Saccos, and maintaining excellent and…
By Azael Masese A new Sacco Supervision Report, 2021 indicates that the Sacco sub-sector’s total assets grew by 9.93 per cent in 2021 to reach Ksh807.11 billion from Ksh734.22 billion recorded in 2020. During the period under review, total deposits grew by 9.80 per cent in 2021 to reach Ksh564.89 billion compared to Ksh514.46 billion…
By Tsozungu Kombe Herman Mwashighadi Mwachia can truly attest to how Saccos are beneficial to its members. Mwachia, who is a member of Qwetu Sacco says that the Sacco changed his life for the better. The retired primary school teacher acquired a loan of Shs 2.5 million from Qwetu Sacco which he used to build…
By Fred Sitati One basic characteristic that distinguishes companies from cooperatives is that companies are associations of capital while cooperatives are associations of persons. Additionally, while companies strive to maximize profits for their shareholders, the same cannot be said of primary cooperatives that are voluntary self-help organizations that aim to solve members’ socio-economic and cultural…
By George Otieno State Department for Cooperatives Development PS Ali Noor Ismail has called upon Sacco leaders to unite in addressing challenges facing them. While addressing Sacco Board of Directors, CEOs and their deputies and other stakeholders at Pride Inn in Mombasa, the PS said the sector was stronger and only functional if players came…
By Fredrick Odiero Cooperative Alliance of Kenya (CAK) Executive Director Daniel Marube has called on Kenyans to cultivate a saving culture by joining Saccos. Marube urged young people to invest in Saccos since there is life after retirement. He posited that the cooperative movement is a key contributor to Kenya’s economic growth. “The cooperative movement contributes…
By Bulimo Mathews Achola Bungoma County Directorate of Cooperative Societies Development has asked residents to take part in the cooperative activities across the county. Speaking to the press in his office, the director of cooperative societies Stanislaus Wambani asked people to participate actively in the running and management of the cooperative societies in the region…
By Azael Masese Kenya’s saving rate might decline due to skyrocketing inflation, raising fears on the country’s ability to raise the necessary capital for investment. The cooperative sector and Savings and Credit Cooperative Societies (Saccos) in particular stand to be the biggest losers. As Kenya marked the 100th Ushirika Day on 2nd July 2022, it was praised…
By Roy Hezron Kenya Society of Professional Co-operators (KSPC), a sector professional organization in the cooperative movement of Kenya, has come up with regulation guidelines that seek to root out cooperative quacks. The move is meant to bring order in the Co-operative movement in the country which has accumulated asset base of over Sh. 1…
