Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Staff Reporter Two Saccos, which cannot be named for legal reasons, will soon be dissolved for non-compliance, State Department for Co-operatives has indicated. Senior Deputy Commissioner Geoffrey Njang’ombe said they are about to revoke their licenses which will lead to their dissolution. The move comes at a time when the Government is set to…
By Azael Masese The Government will put brakes on expansion of Savings and Credit Co-operatives (Saccos) to ensure there is regulated growth and financial stability in the sub-sector. Senior Deputy Commissioner in the State Department of Co-operatives Geoffrey Njang’ombe said loan repayment is posing a serious challenge hence the need to take the necessary steps….
By Staff Reporter Total assets held by Kenya Bankers Sacco increased from Sh6.3 billion in 2015 to Sh6.7 billion at the close of financial year ended 31st December, 2016. According to the Sacco Society Regulatory Authority (SASRA) Supervision Report, 2016, the sacco ranks 13th among largest deposit-taking sacco across the country in balance sheet size….
From page 1 The fact that the women must also be able to balance between family and staying late in meetings, makes this position even more difficult to handle for a woman,” said Eunice Kaboi, CEO of Mafanikio Sacco Society Limited, based in Mombasa County. Kaboi added that responding to issues brought forth by members…
By Boniface Mulu Kitui County Government has constructed 16 honey processing factories for local beekeeping cooperators, a juice processing factory for the Mwingi Horticulture Farmers Cooperative Society Limited in Mwingi sub county, among other projects. County Trade, Industry, ICT and Cooperatives Development CEC, Jonah Mwinzi, said the county government has also purchased a milk cooler…
By Staff Writer There used to be a day when it would take one a whole day to travel from your house to the nearest Sacco branch, transact, paybills and travel back. Nowadays, you can transact and paybills on your phone in under 2 minutes and get on your business. Tangazoletu Limited, a Kenyan ICT…
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…
