Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
By Our Reporter Murang’a Women Sacco expects to generate Sh1 million in rent per month after the completion of a five storey hostel that has cost over Sh100 million. The Sacco which has over 25,000 members started the construction of Muranga University hostels in 2015, two years after it was started. Rose Waithigo, the Sacco…
By Staff Reporter The Government has officially endorsed the Kenya National Union of Co-operative Staff (KNUCS) and directed all employers under the co-operative sector to co-operate with it. In a letter dated May 4, 2018 addressed to the Co-operative Alliance of Kenya (CAK), the Commissioner of Co-operatives Mary Mungai told employers in the sector that…
By Patrick Odenyo Savings and Credit Co-operative Organizations (Saccos) are warning that the proposed changes in laws governing the sector are likely to stifle growth and put members’ savings at risk. According to Co-operative Alliance of Kenya (CAK) Executive Director Daniel Marube, the proposals contained in the Sacco Societies (Amendment) Bill 2018 will open room…
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