Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
The Agricultural Society of Kenya ( ASK) Kisumu branch has vowed to resist plans by the county government to relocate it to an alternative site. The branch Chairperson George Ongudi said they are yet to discuss such an undertaking with the county government. “Such an idea has never even been brought to our attention by…
KTS, formerly Kitui Teachers Sacco, has invited suitable local constructors for the construction of an office block on plot number LR KYANGWITHYA/TUNGUTU/3892. The minimum and mandatory qualifications include possession of a pre-qualification document, incorporation or registration certificate, valid tax compliance certificate and a recent copy of CR 12. Current registration with the national construction authority…
The exponential growth of some Saccos can aptly be attributed to their decision to open their common bonds to attract persons from outside their original catchment areas. Such moves are welcome as long as they are done in reasonable measures and do not compromise the quality of services offered to members as Saccos embark on…
The Lake Region Economic Bloc (LREB) has called for the implementation of the past recommendations seeking to revive the ailing sugar sub-sector. Speaking during a sugar summit in Kakamega, LREB chairperson Professor Peter Anyang Nyong’o said the resolutions, such as those contained in the 2019 Sugar Industry Stakeholders Task Force Report were good hence the…
The 2022 SACCO Supervision report has revealed a concerning trend of how SACCO members sought more loans than they had deposited. According to data from the SACCO Societies Regulatory Authority (SASRA), SACCOs held deposits of Ksh620.45 billion but loaned out Ksh680.35 billion by the end of 2022. The loan book grew by 11.8% from Ksh608.75…
Kericho county Chief Officer for Agriculture Willy Rop has urged farmers in the region to cooperate with agripreneurs in the ongoing data collection exercise. He stressed that it’s important to provide accurate farm information since it helps the government plan its projects. Some of the data required include farmer identity, land size, technology, management practices,…
Vipingo Workers Savings and Credit Cooperative Society Limited, established in 1988 to cater for the financial needs of workers in Kilifi South, Kilifi County, faces an uncertain future due to mismanagement of members’ funds. The Sacco’s instability is caused by irregular lending practices. The chronic financial mismanagement, highlighted by a Ksh41 million loss in an…
Ollin Sacco fraternity is in mourning following the demise of their beloved Chairman, Director Geoffrey Njoka Njeru. Until his demise, which occurred on September 7, 2023, Njoka also served as the Principal Head Teacher of Rwambiti School in Kirinyaga County. He will be laid to rest on Friday, September 15, 2023 at his family home…
The annual Savings and Credit Cooperative Organizations (SACCOs) supervision report 2022 released by Sacco Societies Regulatory Authority [SASRA] has revealed that 49 agriculture-based SACCOs have topped the charts in loan defaults by the ratio of 18.42 percent, more than double the industry average. Notably, these 49 agriculture-based Saccos represent the largest membership within the sector,…
The latest released Sacco Societies Regulatory Authority (SASRA) report reveals a significant surge in competition between Savings and Credit Cooperative Societies (SACCOs) and commercial banks in Kenya, with consumers opting for SACCOs. The craze for SACCOs is because they offer low-interest loans and attractive dividend payouts, making them an appealing choice. Furthermore, SACCOs’ member centric…
