Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Kephas Ayiecha Trans National Times Sacco has warned of stern action against Sacco members who default on loans. Sacco Chairman, Christopher Nyongesa (pictured) said the defaulters had caused the society to fail to implement its projects and risk being overtaken by others. Nyongesa noted that as a result, some faithful members who had acted…
Kisii County banana farmers have been advised to form or join Saccos to help them get market or loans to improve agricultural activities. Speaking at Keumbu open air market, County Co-operatives and Marketing Commissioner, Kenyariri told farmers that joining Savings and Credit Co-operative Societies would enable them benefit as a team. He said one of…
By Jackson Okoth. A number of deep pocketed Savings and Credit Co-operatives (Saccos) are setting up ultra-modern complexes with a view to leasing or renting out office space to interested parties. This segment of the property market is becoming an attractive option for the Saccos eager to pump more cash in the form of rental…
THE SACCO SOCIETIES REGULATORY AUTHORITY SACCO SOCIETIES ACT (Cap 490B, Laws of Kenya) LIST OF SACCO SOCIETIES LICENSED TO UNDERTAKE DEPOSIT- TAKING SACCO BUSINESS IN KENYA FOR THE FINANCIAL YEAR ENDING DECEMBER 2017 PURSUANT to Section 28 of the Sacco Societies Act (Act) as read with Reg. 8 of the Sacco Societies (Deposit- Taking Sacco…
By Wesley Ken. Magereza Sacco is one of the giant savings and credit societies in Kenya that has taken a leap into the property market. The Sacco has bought land in Isinya to sell to its members and non-members. The land is subdivided into parcels of 1 acre and 1/8 acre plots totaling 1, 003….
By Kiptanui Rutto. New Heri Homes Housing Co-operative Society Limited has kicked off construction of Kikuyu Heights Homes in Dagoretti South. The building site is a few metres from Equity Bank along Kikuyu Road. Speaking during the ground breaking ceremony, Dagoretti South MP, Hon. Dennis Waweru who was the chief guest, lauded Heri Homes…
By Jackson Okoth A bill that the Sacco Societies Regulatory Authority (SASRA) to vet all top Sacco officials engaged in Deposit Taking business is currently before parliament. The Sacco Societies (Amendment) Bill 2016, received unanimous support from Savings and Credit Co-operative Society industry bigwigs after two days of stormy debates at the Sarova Whitesands Beach…
By Jackson Okoth An American consultancy appointed to assist the Sacco Societies Regulatory Authority (SASRA) set up a facility to allow Saccos lend to each other like banks do, is almost completing the task. Madison-based Dave Grace & Associates is expected to provide a roadmap for establishment of central liquidity facility for Savings and credit…
By Alfred Kimosop Boresha Sacco has been lauded for its progressive policies which have made it a top performing deposit taking Sacco in the country. According to the East African Tea Trade Association (EATTA) Managing Director, Edward Mudibo, the Sacco has potential for further growth due to policies and strategies it has followed over several…
By Jackson Okoth Bandari Sacco Society Limited posted net surplus of Sh 182,652,934 in the financial year ended December31st, 2016 compared to Sh 57,284,534 the previous financial year. According to the Society’s statement of profit or loss and other comprehensive income, interest on loans went up to Sh 644.6 million in 2016 from Sh582.8 million…
