Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Stephen Makabila Under the Big 4 Agenda of President Uhuru Kenyatta’s last five years in office ahead of his retirement in year 2022, the co-operative sector is expected to be instrumental in the achievement of these agenda namely- Food Security, Affordable Housing, Manufacturing and affordable Health Care for all. The Co-operative sector is supposed…
By Godfrey Wamalwa Busia County Executive Committee Member for Trade, Co-operatives and Industrialisation Judith Maketso has lauded the management of Magombe Multipurpose Co-operative for the job well done. “Behind the floods in Budalangi there is something beautiful with potential that requires support from all the stakeholders,” she said. Maketso said the county government will fund…
By Azael Masese Failure by co-operative members to interrogate the performance of their respective organisations has been identified as a weakness that needs urgent remedy. Intriguingly, this happens even in Savings and Credit Cooperative Organisations (Saccos) where majority of the members are the elite, leading to embezzlement of members’ savings. State Department of Co-operatives Senior…
By Benedict Ng’etich Sinendet Tea Multi-Purpose Co-operative Society posted a net surplus of Sh36 million in 2017 and asset growth of Sh608.3 million. This was despite leaf production decrease by 8.01 per cent to 4.52 million kilogrammes in the year. “This drop is attributed largely to the labour strikes which were prevalent in the country…
By Musa Radoli The Senior Deputy Co-operative Commissioner, Geoffrey Jang’ombe has told the co-operative societies in the country to avoid borrowing externally from the commercial financial institutions even if they were hard pressed by their liquidity status due to delays to get remittances from the County or National governments ministries. “Savings and credit societies are…
By Azael Masese CIC Group weathered a tough 2017 to record double digit growth in all its critical market segments, positioning itself as a key financial market player particularly in the co-operative sector. The company posted Sh14.9 billion in premium in the financial year ended as at 31st December 2017 compared to Sh12.4 billion recorded…
By Patrick Odenyo Kenya Union of Savings and Credit Co-operatives (KUSCCO) has launched a series of projects that will culminate into improved service delivery and efficiency for Sacco members. Addressing delegates in Nairobi’s Laico Regency Hotel during the 31 Annual Delegates Meeting, Kuscco Managing Director George Ototo said that last year’s transformative journey is set…
By Obegi Malack Kajiado County Co-operative Commissioner Jane Karanja has urged co-operative societies to open branches in remote areas to reach out for more members. Karanja who was speaking during opening of Ollin Sacco new branch in Kiserian said areas such as Shompole, Nguruman in Magadi’s Kajiado West Constituency remain untapped. She said more locals…
By Azael Masese Borrowing from financial institutions such as commercial banks is a key source of funding for Savings and Credit Co-operative Societies (Saccos) facing financial constraints. While some borrow to undertake major investments, others do so for onward lending to its members and this might hurt their operations if not carefully evaluated. Vision Point…
