Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Amoto Dennis Ndiewo. Savings and Credit Cooperative Societies (Saccos) in remote Tana River County are calling on the government to channel the multibillion Youth, Uwezo and Women funds through their societies. They said the Uwezo, Youth and Women funds should be channelled through Saccos in an attempt to boost their liquidity. Leading those making…
By Our Reporter. Garissa Teachers Sacco has opened its common bond in order to attract membership from other sectors including the Business community. This will enable the Sacco to diversity its business operations and strategy. Located in Garissa town, the Sacco is licensed by the Sacco Societies Regulatory Authority (Sasra) as a deposit taking institution….
By Murithi Kinoti. Meru County’s Smart Champions Sacco has splashed their marketing strategies as they seek to cash in on unbanked farmers and low-income earners. Sacco Chief Executive Officer, Robert Mbijiwe said the Smart Champions products are specifically developed to cater for farmers and will help in capturing the unbanked section of the population. “It…
By James Wakahiu. Cooperatives in Kiambu County have grown their capital base to over Sh5 billion in the last five years. This was disclosed by the County Director of Cooperatives, Abigail Tabu. She attributed the growth to increase in membership which rose to 400,000. “There are 584 registered Co-operatives in Kiambu. We also have 43…
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 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…
