Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Our Reporter The youth in Malindi Sub County in Kilifi County recently received Sh5.9 million from Uwezo Fund to boost their businesses. Malindi Sub-county Youth Development Officer Juma Mtana said that the funds have been distributed to 66 youth groups in the sub-county. He said the funds received in March this year were distributed…
By Munene Maina The technological advancements sweeping the financial sector and the high cost of opening and running branches have forced Savings and Credit societies to re-strategize to beat the competition and grow their businesses. Most Saccos are now rolling out agency banking or opening satellite branches to extend their reach and reduce operation cost…
By Munene Maina More farmers in co-operatives are set to benefit from agriculture loans that will improve their income. World Council of Credit Unions (WOCCU) has extended its partnership with societies in the country to support more farmers. Recently, WOCCU Chairman Brian McCrory and President Brian Branch visited Siraji Sacco in Timau for a partnership…
By Our Reporter The Ministry of Industry, Trade and Co-operatives is expediting review of legal, policy and institutional framework to promote savings mobilisation, financial deepening and access among citizens. Commissioner for Co-operatives Development Mary Mungai has said disharmony in legal and policy frameworks can result in unsustainable practices that may lead to poor governance and…
By Amoto Dennis Kenya Bankers Association Chairman Habil Olaka has observed that banks offering Islamic sharia complaint products face challenges in meeting rising demands for the products. He noted that the Kuala Lumpur based Islamic Financial Services Board demands that banking services and products must comply with sharia law to grow the products at about…
By John Majau Meru leaders have called on women and youth in the county to enroll in organized and registered groups before applying for government and donor funding. Meru County governor Kiraitu Murungi and Public Service, Gender and Youth Cabinet Secretary Prof Margaret Kobia, said only women and youth who are in such groups will…
By Stephen Makabila Chai Sacco will officially launch its three branches by June this year, the Chief Executive Officer (CEO) Festus Mwatee has indicated. Mwatee noted that though the Sacco’s Kisii, Nkubu and Mombasa branches have been in operation, they were yet to be launched officially. “We have plans to officially launch the branches around…
By Dennis Bett Watermelon farmers in Sangach in Marakwet East have expressed concern over fruit pests invasion. The farmers urged the County Government department of co-operatives and agriculture to address the problem to safeguard their profits. “Invasion of fruit flies is raising concern. These pests are destroying mature fruits,” lamented one farmer. The pests burrow…
By Stephen Makabila and Azael Masese A directive by the Government that Sacco board directors should not be paid honoraria or a send off package has raised a storm in the vibrant co-operative sub sector. Board chairs who spoke to Sacco Review noted that the two packages are only meant to reward and recognise the…
By Munene Maina Saccos across the country have introduced a raft of measures to tame the increasing number of loan defaulters. Defaulters in the co-operative movement now risk having their assets seized by the Government to recover the monies owed to the respective savings and credit co-operative societies. The Deputy Commissioner, Geoffrey Jang’ombe said defaulters…
