Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Co-operatives and Micro, Small and Medium Enterprises Cabinet Secretary Simon Chelugui has explained how groups and chamas can apply for the second phase of the Hustler Fund loan. The Group Micro Enterprise Loan products allow members to apply for loans ranging between Ksh20, 000 to Ksh1 million based on the average credit score of each…
Sacco Societies Regulatory Authority (SASRA) has issued new guidelines on complaints management by cooperatives. According to the new guidelines, Saccos have only 21 days to investigate and solve members’ complaints. The days will be split into two; 14 working days for carrying out investigations into complaints and an additional seven days to communicate to members…
Commissioner for Cooperatives David Obonyo has raised concern over the threats posed by cyber-related crimes in Sacco operations. Obonyo lamented that criminal activities that target users through computers and phones have been on the increase in the Saccos. “This challenge is more prominent in Saccos that are financially struggling and those that are suffering from…
The government is negotiating with banking institutions to streamline their lending packages to accommodate small and medium enterprises, which are thought to be the pillar to the country’s future economy. Cooperatives Cabinet Secretary Simon Chelugui said the government was consulting with banks to restructure and be more attractive to the small and medium enterprises. Chelugui…
A 2020 Survey conducted by the State Department for Co-operative Development revealed that there are 5,723 dormant cooperatives, which are at risk of losing its assets to unscrupulous officials. Kenya Society of Professional Co-operators (KSPC) is now calling on government to develop policy guidelines that will help to safeguard assets of cooperatives that may fall…
The government has come up with a draft policy that is meant to revive the sugar industry, even as it bans sugar production for the next three months. According to the draft policy – Revitalization of the Sugar Industry by the State Department for Crop Development – it will take the government up to 10…
The Communications Authority of Kenya (CA) has raised concern over the high number of cyber security attacks, which rose from 7.7 million in 2018 to 444 million in 2023. Speaking in Kisumu during the awards ceremony of the Kisumu edition of the Authority’s cyber security bootcamp and hackathon series 2023, Internal Audit Director Rosalid Muriithi…
Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Development Principal Secretary Patrick Kiburi Kilemi has revealed that the government has made tremendous progress in coffee reforms that will see revival of the struggling sub sector. Speaking during the Kenya Coffee Trade meeting, the PS said the government is committed to reform the sub sector and…
It is a windfall for Savings and Credit Cooperatives (Saccos) as they pick the spoils from bank fallouts prompted by skyrocketing interest rates. Loan seekers are streaming into Saccos for loans with lower interest rates, as banks increase the pricing of loans to levels last seen over seven years ago. Moreover, customers with loans in…
Cooperatives have been urged to embrace the seven principles of the movement if they must return to the old days when they were a great success. Prof. Esther Gicheru, Deputy Vice Chancellor (DVC) at Cooperative University of Kenya (CUK), who has been in the cooperative industry for almost a half a century, has said the…
