Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Youth in Malindi sub county, Kilifi county have been urged to take advantage of Uwezo Fund to boost their businesses. Speaking to Sacco Review, Malindi sub county Youth Development Officer Mtana Mwahunga urged the youth to form groups to enable them to access the Fund to expand their businesses. “The Fund will help address the issue…
Savings and Credit Cooperative Societies (Saccos) are increasingly following in the footsteps of commercial banks by using personal security such as title deeds and log books instead of guarantors when issuing loans. An analysis by Sacco Review indicates that the number of Saccos giving members the option is on the rise and that the new…
The Kazi Mtaani Programme was launched in April 2020 to cushion the unemployed youth from the adverse effects of the Covid-19 pandemic across the 1450 wards in the country. Those recruited into the programme mainly engaged in menial jobs in urban areas. Though the programme was at times characterized by intermittent delays in payments, it…
Wholesale and Retail Sector Education and Training Authority (WRSETA) in partnership with Zetech University are training over 100 SMEs from South Africa on networking, marketing, customer care, and food safety regulations among other business-oriented skills. South Africa’s High Commissioner to Kenya Mninwa Johannes Mahlangu said the skills will empower the SMEs to grow their country’s…
Sweet potato farmers from Kuria in Migori County have expressed concern over the reducing prices of the crop. Led by Joyce Maroa, the farmers urged the government to chip in and help them get good prices for their produce. They blamed the county government for not completing the construction of the potato processing factory in…
Over 70,000 farmers have benefited from loans worth Ksh 1 billion since the inception of the Agricultural Finance Corporation’s (AFC) cheap credit scheme in 2018 that targets to benefit women on agri-finance in Kenya. The money was accessed through Saccos, microfinance institutions and Micro, Small and Medium Enterprises (MSMEs) with AFC projecting to reach out…
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…
Kenya Mortgage Refinancing Company (KMRC) hopes there will be increased healthy competition in the sub-sector that has been dominated by commercial banks after Saccos entered into the mortgage space. They are now looking forward to making affordable housing a reality because Saccos offer loans at a low interest rate and are easily accessible to many…
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…
Small-scale traders in Siaya County have received business loans from Kenya National Chamber of Commerce and Industry’s (KNCCI) MasterCard programme. The KNCCI Siaya branch Chairperson Mrs. Roseline Omuga said the first group of traders at Kambare trading center in Gem sub-county have received a minimum of Ksh30,000 interest-free loans. She encouraged more traders from across…
