Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Sammy Chivanga Outstanding remittances to Saccos from employers have exposed the sector to a myriad of challenges with many of them operating in financial depression. The piling up of outstanding deposits has put the sector in liquidity strains with no redress because the entities involved have gone scot free. Firms drawn from both the…
By Malachi Motano The latest report by the Saccos Regulatory Authority (Sasra) indicates that women have been locked out of Sacco management in Kenya. According to the report, men dominated all other key positions including vice chairpersons, secretary and treasurer in the Saccos that handle deposits amounting to Sh380.4 billion and Sh 419.55 billion in…
By Malachi Motano Spire Bank, wholly owned by Mwalimu National Sacco, now faces a crucial quest for new capital because its losses have seen it breach all the minimum capital adequacy ratios by large margins. The bank continues to make bigger losses, that swept away its capital in the 2020 financial, leaving it with a…
By Malachi Motano Tittle hopeful Fortune Sacco FC beats Shabana FC 1-0 at the Awendo Green Stadium on Sunday in a game where the national Super League giant Shabana team failed to convert a myriad of opportunities created. Shabana skipper Fred Nyakundi “Malouda” is concerned his team’s promotion dreams may fizzle out if they can’t…
By John Majau Small businesses are set to benefit from affordable low interest loans under a post-Covid-19 recovery strategy that was launched by the Meru County government recently. Meru Governor Kiraitu Murungi said small holder businesses will access loans ranging from Sh2000 to 30,000 through mobile app dubbed ‘Sacco-Benki’. He was speaking at an event…
By Malachi Motano Sacco Society regulatory authority (Sasra) will have to improve its capacity to handle the swelling number of Savings and credit cooperative societies (Saccos) under their regulation, after the government added it even those that don’t take deposits (Non-DT Saccos) “Non-Deposit Taking Saccos refer to those that take deposits from members only in…
By John Majau Agriculture CS Peter Munya has urged farmers to take coffee to the New Kenya Planters Cooperative Union (KPCU). He said the government has enforced new regulations for the benefit of farmers by sealing loopholes that existed before. He warned farmers that they will only have themselves to blame if they take their…
By Malachi Motano Research conducted on the impact of the co-operative movement in Kenya has found that it will be a key factor in building back the economy in the post Covid-19 pandemic period. The report further recommends that the sector should be included in Kenya’s national economic recovery programme. The study conducted by the…
By Malachi Motano Co-operatives industry players have the government to create a standalone ministry for the cooperatives sector was the case in previous years. Among them is the chairman of the Agriculture, Livestock, Fisheries and Cooperatives Senate Committee Njeru Ndwiga, who is a former Minister for Cooperatives. They say the sector requires a standalone ministry…
By Malachi Motano The Government is set to borrow at least Ksh.1.5 trillion in the new financial year which will commence in According to final budget estimates tabled in Parliament last week, the new borrowing plan matches up to estimated loan financing in the current financial year running to June 30- Ksh.1.456 trillion. It had…
