Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Tindi Kuchio IG (Invest and Grow) Savings and Credit Co-operative Society Limited members have been urged to buy more shares in the Sacco when their salaries are increased. Speaking during the Sacco’s Special Delegates Meeting at Golf Hotel in Kakamega recently, Kakamega County Co-operative Commissioner, Nathan Mukhweso said this will increase the Sacco’s share…
By Mary Wanjiru Ndung’u Savings and Credit Co-operative Society’s (Saccos) membership recruitment is an ongoing process that requires planning and a well thought out strategy. The reasons as to why Saccos need to constantly recruit is so as to grow their membership base, maintain their relevance and strengthen their financial muscle. Recruiting is the lifeblood…
By Jackson Okoth The Sacco Societies Regulatory Authority (SASRA) has raised the red flag over an increase in the volume of Non-Performing Loans (NPLs) beyond the prescribed limits. The Authority is also concerned that most DT-Saccos are not retaining sufficient earnings to build capital, proportionately to the growth of their asset bases. “It also shows…
By Staff Reporter Kiambu County has the highest distribution of Deposit-Taking Saccos headquarters outside the national capital, Nairobi. According to the market regulator, the Sacco Societies Regulatory Authority (SASRA) report, the national commercial and administrative capital, Nairobi City County, hosts headquarters of 41 DT-Saccos while Kiambu has 15. The Co-operative Societies Act under which DT-Saccos…
By Jackson Okoth A trend is rapidly emerging where DT-Saccos prefer to look inwards when seeking to replace Marketing Managers, Finance Managers, Chief Executive Officers or even Chairpersons to the Boards of Directors. Those Saccos with no suitable replacements from within the society would rather poach these executives from other saccos rather than extend their…
By John Ochieng. Migori County residents have been encouraged to embrace co-operative societies in a bid to improve economically. Migori County Lands and Co-operatives Minister, Elizabeth Ochae said that the county has always given necessary support to the co-operative societies in the region. She promised that it will continue working together and support co-operative societies….
By Fred Sitati. Serious concern and apparent sense of hopelessness has been expressed by the Kajiado leaders over the perennial drought that has continued to threaten the livelihoods of the residents who are largely dependent on livestock keeping for a long time. The matter is further compounded by the infiltration of middlemen who buy…
By James Wakahiu. Urithi Housing Co-operative Society has acquired 200 acres of land in Machakos County. The land in Tala will be sold to members at introductory price of Sh175, 000 for a 1/8, Sh330, 000 for a ¼, Sh640, 000 for ½ and Sh1.2m for an acre. Urithi Sales Manager, Gabriel Ng’ang’a he said…
By Azael Masese. Mobile and agency banking platforms are key areas where Savings and Credit Societies (Saccos) will invest in stand alone Automated Teller Machines (ATMs) emerging as least among their priorities. The sub sector is increasingly embracing new technologies to rope in the unbanked population and drive upwards their much desired growth. Yetu Sacco,…
