Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Jackson Okoth A growing number of deposit-taking Saccos are reviewing their strategy on recruitment and lending to members involved in the informal and micro enterprise sectors. This has been occasioned by the high default rates by members from informal businesses. One such player is Wanandege Sacco Society, which has stopped recruiting members from the…
By Our Reporter Asili Sacco has maintained a steady growth in membership, members’ deposit and asset base to stand out among fast growing co-operative societies in the country. The Sacco shrugged off harsh economic realities in the financial year 2017 to post impressive financial performance. Its total asset base increased to over Sh 2.227 billion…
By Munene Maina Sacco members have the alternative of using movable assets as collateral to secure loans. This is in addition to the traditional use of land and chattel collaterals. “This will in effect greatly improve the ease with which consumers can access credit facilities from the financial lenders; while at the same time securing…
By Munene Maina A new body to set standards of training and hiring of co-operative employees has been launched. Staff members in all co-operative societies will now undergo thorough vetting to ensure they meet the requisite academic qualifications before they are allowed to serve. The outfit, made up of scholars and experienced co-operators, is also…
By Erick Maranga Ubunifu Sacco continues to assist youth to enhance savings and financial inclusion.The youthful Sacco Chairman Frank Odindo said young people are the future of the country making it essential to cultivate a savings culture among them. This, he added, will increase financial inclusion and boost the sector’s deposits. What started as a…
By Daniel Liyayi Sacco Societies Regulatory Authority (SASRA) has warned that continued absence of deposit insurance facility and access to the national payment systems may stifle growth of the Sacco movement. SASRA Director Sammy Ruto said that despite the sector’s total assets having increased by 12.4 per cent to reach Sh442.27 billion in 2017, the…
By Kennedy Shivairo COTU Secretary General Francis Atwoli says the country needs vibrant Saccos and Societies to help individuals live a better life. Talking to Sacco Review at his office in Nairobi, Atwoli advised workers to form Saccos which can assist them grow through loans, adding that salaries offered by most employers were not enough…
By Our Reporter The agriculture sector is at risk of lowered productivity if the Government does not revert to zero-rated pesticides, according to Evelyn Lusenaka, Chief Executive Officer of the Agrochemical Association of Kenya (AAK). The organization has opposed the introduction of 16% VAT on pesticides saying the new tax will raise operations costs for…
By John Majau Tharaka-Nithi Deputy Governor Francis Kagwima has urged the youth in the area to form or join registered groups in order to benefit financially from the Government and donor funding. He said only registered youth groups will benefit from donor, national and county governments funding. Speaking to leaders at Ntunyai market, Kagwima said…
By Boniface Mulu The Chairman of the Kitui Horticultural Farmers Savings and Credit Cooperative Society Limited David Matheka has announced that the society’s share capital stands at Sh3.5 million. He said the society plans to raise the share capital to Sh10 million by the year 2020 and increase its membership to 500. Matheka said currently…
