Digital evolution in Saccos must reflect customer experiences

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, digitizing Saccos, and maintaining excellent and…

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Saccos urged to develop neobanks

By David Kipkorir Savings and Credit Co-operatives (Saccos) have been urged to turn their institutions into neobanks (online banks without traditional physical branch networks). Cynthia Wandia, the Chief Executive Officer (CEO) and Co-founder of Kwara Limited recently said that turning Saccos into neobanks will help them deal with industry challenges and build new customer bases….

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Stima Sacco: Africa’s Second Largest Sacco

By Azael Masese Stima Deposit Taking (DT) Sacco exhibits all the attributes and performance indicators of a successful institution. Ranked the second wealthiest Society by the Sacco Societies Regulatory Authority (SASRA), their end year performances have remained mouth-watering. As of 31st December 2021, the Society’s asset base, turnover, loan book and balance sheet had grown by…

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SASRA faces budget strain on increased mandate

By Sammy Chivanga The Sacco Societies Regulatory Authority (Sasra) is facing increased budgetary strain as the number of Saccos under its regulation more than doubles. Sasra requires more money to strengthen its oversight capabilities given that Saccos under its mandate have increased after it started regulating non-withdrawable deposit taking Saccos with deposits of at least…

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