Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By David Kipkorir. A consortium of 35 Savings and Credit Cooperative Societies (Saccos) have come up with interest free mortgages on housing loan schemes for their members. Kimisitu Sacco, Safaricom Sacco, Habitat Housing Cooperative, and Nation Sacco started the ball rolling on the scheme dubbed Africa Tenancy Purchase Initiative. An official of the scheme’s steering…
By Felix Wanderi. The Cooperative movement in Kiambu County has continued to grow registering a total of 558 Cooperative societies with a membership of 459,806. They boast a share capital of Sh4, 680,426,229 and a turnover of Sh15, 526,777,157. This was revealed during this year’s Ushirika Day celebrations. Speaking during the occasion, the County Director…
By Wasike Elvis. Uasin Gishu County Deputy Governor, Daniel Chemno has reaffirmed the County Government’s commitment to support Cooperatives. “We have issued loans to the tune of Sh127 million to over 57 Co-operatives in the past three years. We are committed to availing more funds to the Cooperatives so that they can be able to…
By Our Reporter. Kilifi County has registered over 200 Savings and Credit Co-operatives (Saccos) in the last four years. Speaking during the 2017 Ushiriaka Day celebrations held at Kizurini Secondary School in Kaloleni Sub-county recently, Acting Kilifi County Government Executive Committee Member in-charge of Co-operative Development, Christine Pekeshe said 243 have been registered to date….
By Tsozungu Kombe. Lack of adequate funding is a leading cause of inefficiency and poor performance at Tourist hotels-based Savings and Credit Co-operative Societies (Saccos). Speaking during the 2017 Ushirika Day celebrations held at Kizurini Secondary School in Kaloleni Sub-county recently, Kilifi County Ushirika Day Steering Committee Chairman, Renson Ndoro said that many tourists hotels-based…
By Jackson Okoth. The Sacco Societies Regulatory Authority (SASRA) has extended the license of 11 Deposit-Taking Saccos that have failed to meet set prudential guidelines. The affected Saccos will now be allowed to operate on a temporary license until December this year when the regulator will again review their liquidity, governance and capital adequacy status….
By Munene Maina. Nyandarua Governor, Francis Kimemia has said his administration will support the Cooperatives Bill to ensure Saccos benefit from the same. The governor said this during the official opening of Nyandarua County Assembly. He stated that one of the initiatives that can enable members of cooperatives to benefit from formal financial services is…
By James Wakahiu. Youths in Kenya have been advised to join Sacco movements and invest wisely, a phenomenon which is transforming the lives of many across the globe. Urithi Premier Sacco Chairman, Pius Thuku said many people have bridged the challenge of accessing capital by putting the little they have in a Sacco and then…
By Erick Nyayiera. Kisumu County Government has designed Co-operative Development Policy which will determine the growth path of the Co-operative sector in the region. This comes at a time when the Cooperative movement in the County has shown remarkable growth with the total registered Co-operatives societies standing at 470 and membership at 105,975 compared to…
By Godfrey Wamalwa. Bungoma Governor Wycliffe Wangamati (pictured) will seek support from the County Assembly members in legislating laws that will seal the loopholes in the Cooperative sector. Speaking during his inauguration, the governor said the laws will unleash the potential within the Cooperative movement in spurring the county’s economic growth. “A major catalyst in…
