Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
By Kage Njoroge Amica Savings and Credit Society, one of the fastest growing Saccos, has urged its customers to embrace emerging technologies and transact their business on the Sacco’s ICT money transfer platforms for their convenience. Amica Sacco’s management calls on its clients to take up technology based alternative channels to access quick services, without…
By Erick Maranga Ubinifu Credit and Saving Co-operative Society whose majority of shareholders are youths has realized a landmark growth financially after two years since inception. This may serve as a game changer as majority of Kenyan youth perceive Saccos as a reserve for older people as majority of them shun any form of savings…
By Munene Maina Co-operative societies countrywide braved tough economic period to post good returns to members during the financial year 2017. Going by financial reports presented to members and delegates during Annual Meetings, most societies defied odds and pundits extrapolations of negative outcomes, to register impressive performance for the year. Prolonged drought, long electioneering period,…
By Enock Kipturgut Tugen Hills Coffee Farmers Cooperative Society is the winner of the Agriculture and Food Authority (AFA), Coffee Directorate Growers Excellence Recognition Award 2018 Baringo Central Chapter. Addressing coffee farmers drawn from Baringo Central Sub County at Tugen Hills Coffee Factory at Katimok Forest, National Director for Agriculture and Food Authority (AFA) Coffee…
By Azael Masese Suba Teachers Savings and Credit Co-operative Society has rebranded to Fortitude Sacco, in a move aimed at improving its critical market segments. Chief Executive Officer Mr Odhiambo Muganda said opening the common bond followed complaints from the public that the previous operations had locked them from accessing their financial services. “Our key…
