Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Munene Maina Safaricom Sacco has finally bagged the coveted ‘Tier One Sacco status’ ranking by Societies Regulatory Authority (SASRA). “As we climb towards the top, it gets steeper; however we are optimistic we shall break into the larger Tier deposit-taking Saccos,” said Collins Ogutu, Safaricom Sacco Chairman. The Sacco closed the fiscal year 2017…
By Munene Maina Muki Savings and Credit Cooperative Society, a fast growing rural based Sacco in Kinangop, Nyandarua County, is a story that began with the sowing of small but well-selected seed that blossomed into an inspiring co-operative. Muki’s phenomenal growth has been a tale of humble beginnings using members’ own savings, and using members…
By Munene Maina Since 1908 when Kenya’s first co-operative society was formed, the sector has continued to grow becoming one of the most vibrant in the world. Currently, ranked first in Africa and seventh internationally, the Co-operative movement has marked a major milestone. In particular Savings and Credit Cooperatives Societies (Saccos), have been billed as…
By Azael Masese The noose is set to tighten on Savings and Credit Co-operative Societies (Saccos) loan defaulters with a proposed law that allows them share records of all members having been tabled for debate in Parliament. Sacco will share amongst themselves the credit records of their members if a Bill before Parliament is passed…
By Tsozungu Kombe Saccos and Co-operatives societies in the country have been urged to play an active role in the government’s Big Four Agenda in a bid to realize speedy development. Cabinet Secretary for the Ministry of Industrialization and Enterprise Development, Mr Adan Mohammed further said that the Government’s Big Four Agenda are Manufacturing, Food…
By Stephen Makabila It will not be business as usual for the increasingly vibrant service providers in the Co-operative Sector when the new Co-operative policy is operationalised soon. The government, through the State Department of Co-operatives, now plans to vet service providers to ensure briefcase firms milking Saccos and Co-operatives are locked out. “There are…
By James Wakahiu Robbers who reportedly broke into Daima Sacco in Manyatta town of Embu County and accessed the strong room failed to open a safe containing money, despite using sophisticated tools. The gang of about six raided the sacco’s premises around 3.30am on Monday February 5, 2018. Embu North OCPD Mark Wanjala said a…
By Azael Masese The State Department of Co-operatives will soon disburse about Sh170 million to Sot Tea Growers Sacco (Stegro) to revive its operations. This is part of the Sh300 million debt waiver earmarked for the Bomet County based society whose operations were grounded due to illiquidity challenges. Senior Deputy Commissioner Geoffrey Njang’ombe said they…
By Azael Masese Majority of the Sacco actors will turn to Co-operative Education Days to refocus on their growth prospects in the face of hard economic times due to a lingering pro election mood. Globally, this is considered a critical principle in the cooperative movement, as it cultivates a people participation approach in the management…
The government is yet to appoint a new cooperative commissioner for Migori County. Mr Hezron Getui retired from the position towards the end of June 2017 and Mr Abraham Amugune has been in serving in an acting capacity for more than a year now.
