Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
By Tsozungu Kombe. Imarika Sacco’s total assets grew by 31 per cent last year compared to 19 per cent in 2015. Imarika Sacco Board Chairman, Renson Ndoro speaking during the Sacco’s Annual Delegates Meeting (ADM) at Travellers Beach Hotel, Mombasa County urged members to increase monthly deposits to enable the society provide more loansat affordable…
By Kiptanui Rutto. Kemfri Sacco recruited more members after opening its common bond to attract more customers. Sacco Chairman, Rashid Anam said the Sacco’s membership rose to more than 3,800 at the close of 2016 Financial Year. “The Sacco plans to ensure there are affordable financial products and services that are ultimately within reach of…
By Munene Maina. Kenyans have been cautioned against joining Savings and Co-operative Societies (Saccos) operating like pyramid schemes which are on the rise in the country. Deputy Co-operative Commissioner, J. K. Mwangi called on co-operators to gather knowledge from their County Co-operative officers before joining the Saccos. He said the new societies are enticing co-operators…
By Munene Maina. Bingwa Sacco plans to open more branches in its campaign to net more members. Sacco Chief Executive Officer, Jane Mugoh said plans were underway to open more branches in Nakuru, Machakos and Mombasa to reach out to more members who are badly in need of their products and services. “Currently, Bingwa Sacco…
Drive nets Sh 102 million By Joseph Mukubwa. Taifa Sacco has announced that its recently closed share drive was oversubscribed having netted Sh102.5 million from its members. The Sacco which was targeting to raise Sh100 million in the promotion dubbed ‘Digitika Na Taifa Sacco Shares Promotion’ surpassed the target by over Sh2 million. The Sacco…
By Titus Wafula. Kakamega Entrepreneurs Sacco (KES) Limited’s membership has grown steadily to more than 400 entrepreneurs with sound businesses since it started in 2002. Having been established with the sole aim of assisting small-scale businesses, the Sacco has over the years expanded to incorporate a larger segment of workers from various organizations. And with…
By Amoto Dennis. The first ever Halal exhibition in Kenya came to a close at the Kenya International Convention Centre (KICC) in Nairobi recently with a call on all Muslims in the country to tap into the Halal conscious markets. Tourism Cabinet Secretary Najib Balala who was the chief guest at the expo which attracted…
