Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Jackson Okoth. The list of Deposit-Taking Savings and Credit Co-operative Societies (Saccos) that are planning or have already set up their own insurance agency business is getting longer by the day. On their sights are millions of shillings in premiums paid out to insurance companies by clients keen to have covers against various risks….
By Jackson Okoth and Stephen Makabila. The Government has launched a massive inspection of Co-operatives countrywide in an effort to rein in errant Saccos and directors who violate regulations governing the sector. And as the impromptu inspections gain momentum, the new Commissioner for Co-operative Development, Mary Mungai has sounded a stern warning to the entire…
By Munene Maina. Co-operatives in Kirinyaga County have played a big role in enhancing economic empowerment among residents. Kirinyaga County Director of Co-operatives, Edward Nyaga said more than half of Kirinyaga residents are co-operators, saying: “It is through societies that many households in the County are able to create wealth by embracing saving and prudent…
By Murithi Kinoti. The Dairy section of the Nyambene Arimi Sacco will soon operate as a separate entity completely free from the Sacco. The move is aimed at boosting the dairy section’s operation. The Dairy section will have all its assets separated from those of the Sacco within the course of this year, according to…
By Jackson Okoth. The newly appointed Commissioner for Co-operative Development, Mary Mungai has issued a stern warming to all Co-operative Societies that do not follow the law that they will soon be de-registered. She made these remarks on the sidelines of recent Kenya Police Sacco Annual Delegates Meeting (ADM) held at Intercontinental Hotel, Nairobi. “We…
By Staff Reporter. Deposit-Taking Savings and Credit Co-operative Organizations, presently holding more than Sh 600 billion in deposits have been urged to be on the lookout for fraudsters, who are prowling on all their electronic platforms with the aim of carting away millions in stolen cash. While commercial banks have been the main target of…
By Wesley Ken. Mombasa-based Bandari Sacco Society Limited was the first Sacco in the Coast region to register its books of accounts with the Sacco Societies Regulatory Authority (SASRA), a sign of changing fortunes and management in the Society. In order to achieve a solid growth, Bandari opened a common bond to include employees of…
By Azael Masese. Wanandege Sacco Society Limited, considered one of the oldest Saccos in Kenya, has embarked on an ambitious plan to improve efficiency and service delivery to members while increasing its revenues, value of assets and increasing the size of its loan portfolio. With a harsh economic environment affecting the financial sector, Saccos included,…
By Amoto Dennis. Co-operatives in North Eastern Kenya have been urged to entice more youth to join the movement. Community Owned Finance Initiative (COFI) Chief Executive, Salesio Njeru said young people were conspicuously missing out in savings and credit societies which charge lower interest rate on borrowed money as compared to commercial banks. Njeru said…
By Staff Reporter. Leaders in the Co-operatives sector in the region have been urged to embrace cyber security to help safeguard members’ deposits. Garissa Kenya National Union of Teachers (KNUT) Secretary, Abdirizack Hussein urged especially Saccos to invest in technology that will protect them in the event of an attack because cybercrime is on the…
