Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Malachi Motano Stima Sacco has partnered with the Kenya Mortgage Refinance Company (KMRC) to offer low-cost home purchase loans to its 14,000 members, most of who are drawn from the energy sector. The sacco will now offer the mortgages at 9 percent per annum on a reducing balance for members in formal employment. Those…
By Malachi Motano Co-operative Alliance of Kenya (CAK) has organised training on taxation, cybercrime risks and preventions for leaders and general Co-operatives stakeholder to help reduce the rising criminal activities brought about by the fast changing technology. “It has been a year since Kenya registered the first case of Covid-19. The news changed how we…
By Malachi Motano The Sacco Societies Regulatory Authority (SASRA) Board has today confirmed the appointment of Peter Njuguna as the Authority’s Chief Executive Officer (CEO), effective immediately. Mr Njuguna has been acting as the SASRA CEO since April 2021 when John Mwaka exited the authority upon the expiry of his term. The new CEO brings…
By Sasra Sacco Societies Regulatory Authority (Sasra) has released the Sacco Supervision Annual Report, 2020 which highlights the operations and performance of Sacco Societies during the year ended, December 2020. The Report highlights both the aggregated and individual financial performance of the DT-Sacco segment in 2020, as well as the complementary role of DT-Saccos in…
By Fred Sitati Cooperatives, by their very definition, are formed to serve the socio-economic and cultural needs of their members. However, the majority of cooperatives in Africa are agro-based and financial in nature while aspects of social services are given a wide berth. In view of the challenges facing humanity globally courtesy of covid-19 pandemic,…
By Correspondent The much-anticipated turnaround of coffee cooperatives following the introduction of cherry advances to the farmers by the recently created New KPCU, a state corporation, continues to elicit mixed reactions from those expected to benefit from the proposed interventions. A cursory assessment shows that the uptake of this facility remains way below expectations despite…
By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are increasingly winning county government staff into the cooperative movement but are dragging their feet on investing in multiple sectors at grassroots level in order to deepen their relevance in the economy. The lack of properly structured internal policies for making targeting investments is standing in…
By Malachi Motano The Savings and credit cooperative societies (Sacco) sub-sector defied the economic challenges recorded in the troubled 2020 financial year to record a growth of 14 per cent in assets during quarter three compared to the same period previously. According to the Sacco Societies Regulatory Authority (Sasra) chairman John Munuve, the sector’s assets…
By Malachi Motano Kisumu Bus Terminus was a beehive of activities on Monday as buses and matatus from different Saccos started ferrying passengers on full capacity. The development following a Memorandum of Understanding (MoU) between the Government and Matatu operators who said they had suffered losses since when the COVID-19 restrictions were introduced in March…
By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are dragging their feet on diversifying their investment into new areas such as health and education as the high demand for loans among members put pressure on their wallets. While the desire to branch into areas such as health exists, not many members are ready to…
