Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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 employer based Saccos must now adopt alternative methods to generate income and remain afloat even during difficult economic times like the current Covid – 19 pandemic, rather than relying on the unreliable employers who might remit their employees deduction at their own volition, leaving the societies at the verge of collapse…
By Malachi Motano The government is in the process of implementing the Savings and credit co-operative societies (Saccos) deposit guarantee fund to insulate depositors from unforeseen eventualities. “We are finalising the National Cooperative Policy that will allow the creation of the Sacco Deposit Guarantee Fund (SDGF), a scheme which will provide protection to Sacco deposits….
By Malachi Motano The Kenya Union of Savings and Credit Co-operatives (Kuscco) group has urged saving and credit cooperative societies (Saccos) to safeguard their members’ data in line with the Data Protection Act, 2019. “The Saccos managements should practice data protection by design, by ensuring necessary systems, documents, procedures and policies are in place,” said…
By Kamundia Muriithi Kenya Teachers Sacco Association (KETSA) has new board of directors elected into office during its Annual General Meeting (AGM) held in Embu County recently. The newly elected directors led by the new chairman Mr Robert Njue Kithanju has promised to steer KETSA to greater heights so that it would continue advocating for…
By Malachi Motano A new report by US Overseas Cooperative Development Council (OCDC) indicates that the Kenyan Co-operative Movement has had a higher impact in empowering its members economically than anywhere else in the world. The study which carried out between 2017 and 2020 in Kenya, Peru, Philippines and Poland 2020 involved over 8,000 people, who…
By Kamundia Muriithi Businesses run by women in Embu County will receive a boost through an initiative by the Absa Bank, the County Government of Embu, the Kenya National Chamber of Commerce and Industry Inter- county Mentorship forums. The initiative will target women in business and sensitize them to tap the opportunities offered by the…
By Our Reporter The first Savings and Credit Cooperative (Sacco) based on Islamic interest-free principles is to increase its branch network across the country to reach more Kenyans. Taqwa Sacco is keen to entice the large unbanked population to grow its financial muscle “By offering front office services, we are in a better position to…
By Malachi Motano The Central Bank of Kenya (CBK), in its weekly markets bulletin recently reported that remittance inflows increased by 22.3 per cent to Sh34 billion ($315.8 million) as at May 2021, compared to $258.2 million in the same period last year, attributed to the higher flows from the US and Saudi Arabia. The…
By Malachi Motano Savings and Credit Cooperative Societies (Saccos) must now tap into all sectors of the economy following the government’s budget for the 2021/22 fiscal year. According to the Director of Cooperatives Banking Division at the Cooperative Bank Vincent Marangu, the country has opened up now and is witnessing many business activities opening up…
