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Kenya Bankers Association rejects draft law to regulate banking professionals

Sacco ReviewSeptember 19, 2024September 19, 202403 mins

The Kenya Bankers Association (KBA) has objected to proposed legislations that seek to regulate banking professionals. Appearing before the National Assembly Public Petition Committee chaired by Nimrod Mbai, the Association’s acting CEO Raymond Molenje stated that the proposed legislations will only hinder economic growth and limit employment opportunities in the banking sector. “The banking sector…

2024 SACCA Congress registration ends this Month

Sacco ReviewSeptember 19, 2024September 19, 202403 mins

All cooperators attending the 2024 Savings and Credit Cooperatives Associations (SACCA) Congress are now required to register by September 30, 2024. This was revealed during the 7th session of the 2024 SACCA Congress Working Group held on September 17, 2024 at the African Confederation of Co-operative Savings and Credit Associations (ACCOSCA) Academy in Nairobi Kenya…

Celebrations as Hazina Sacco donate lockers to Lugala Secondary school

Sacco ReviewSeptember 19, 2024September 19, 202403 mins

There was celebrations at Lugala Secondary school after Hazina DT Sacco donated a total of 60 modern lockers and chairs to the Shinyalu based school in Kakamega County as part of its Corporate Social Responsibility (CSR) programme. Speaking during the handing over ceremony, the Sacco CEO Dickson Okungu noted that they decided to support the…

Farmers still use harmful chemicals, consumer body says

Sacco ReviewSeptember 17, 2024September 17, 202403 mins

Consumer Grassroots Association (CGA) has pointed out that some farmers are still using harmful chemicals to produce food. Speaking during a workshop in Karen attended by food stakeholders who included journalists, food experts, agriculture officers, farmers, civil societies on food systems in the country; CGA director Alice Kemunto said that safety of food is a…

Coast co-ops urged to register for forthcoming Sacco African Congress

Sacco ReviewSeptember 17, 2024September 17, 202402 mins

Cooperatives Development Senior Commissioner Churchill Amatha has urged Coast region cooperative to register in large numbers for the forthcoming 24th Savings and Credit Cooperatives Associations (SACCA) Congress. The congress which will take place from October 6 to 12 this year in Naivasha, Nakuru is jointly organized by the Kenya Union of Savings and Credit Cooperatives…

6.8 million members borrowed over Ksh700 billion in Saccos

Sacco ReviewSeptember 17, 202403 mins

The membership in the country’s Savings and Credit Co-operatives (SACCOs) has increased from 6.42 million in 2022 to 6.84 million in 2023, borrowing over Ksh700 billion within a span of one year. According to the recently released 2023 Annual Sacco Supervision Report by SASRA the increase in the 357-Regulated Saccos translated to 6.57 per cent…

Mwalimu Sacco maintains top position in Kenya, Africa in latest report

Sacco ReviewSeptember 17, 202405 mins

Mwalimu National DT Sacco has maintained its top position in the country and in Africa as one of the Savings and Credit Co-operatives (SACCO) with the highest asset base in the latest supervisory report released by the country’s Sacco regulator. According to the recently released Sacco Societies Regulatory Authority (SASRA) 2023 Annual Supervision Report, Mwalimu…

Govt to aid Saccos to access more funding, Oparanya says

Sacco ReviewSeptember 13, 2024September 13, 202404 mins

The Cabinet Secretary (CS) for Cooperatives and MSMEs development Wycliffe Oparanya has revealed that the government is keen to help Saccos access capital by exploring avenues for increased funding and investment in the sector. Speaking during the 7th Annual Delegates’ Conference for Stima DT Sacco Society Ltd on Thursday, Oparanya urged sector stakeholders to work…

Kitui county, Saccos partner to boost production, food security

Sacco ReviewSeptember 13, 2024September 13, 202403 mins

Kitui county has signed a Memorandum of Understanding (MoU) with agriculture-based Saccos and community development committees to boost production and promote food security. Speaking during the event’s launch at the Kitui Agricultural Training Centre, the county’s Chief Officer for Agriculture and Fisheries, Gladys Kivoto, said that the signing marks a significant milestone in efforts to…

Public varsities, colleges owe highest non-remitted funds to SACCOs

Sacco ReviewSeptember 13, 2024September 13, 202403 mins

Public universities and tertiary colleges owed the largest proportion of non-remitted funds for SACCOs in 2023, a report by Sacco Societies Regulatory Authority (SASRA) has revealed. According to the Sacco Supervision Annual Report 2023 released this week, the institutions owed Ksh958.07 million which translates to 37 per cent of the total non-remitted funds. Subsequently, county…