Category: Uncategorized
Sasra releases the Sacco supervision annual report 2020
By Sasra Sacco Societies Regulatory Authority (Sasra) has released the Sacco Supervision Annual Report, 2020 which highlights the operations and performance of Sacco Societies during the year ended, December 2020. The Report highlights both the aggregated and individual financial performance of the DT-Sacco segment in 2020, as well as the complementary role of DT-Saccos in…
Why expansion of scope of cooperative activities in the region is long overdue
By Fred Sitati Cooperatives, by their very definition, are formed to serve the socio-economic and cultural needs of their members. However, the majority of cooperatives in Africa are agro-based and financial in nature while aspects of social services are given a wide berth. In view of the challenges facing humanity globally courtesy of covid-19 pandemic,…
Review Coffee Cherry regulations to benefit farmers
By Correspondent The much-anticipated turnaround of coffee cooperatives following the introduction of cherry advances to the farmers by the recently created New KPCU, a state corporation, continues to elicit mixed reactions from those expected to benefit from the proposed interventions. A cursory assessment shows that the uptake of this facility remains way below expectations despite…
Untapped investment opportunities for Saccos in counties
By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are increasingly winning county government staff into the cooperative movement but are dragging their feet on investing in multiple sectors at grassroots level in order to deepen their relevance in the economy. The lack of properly structured internal policies for making targeting investments is standing in…
Sacco assets rose to Sh622b in 2020
By Malachi Motano The Savings and credit cooperative societies (Sacco) sub-sector defied the economic challenges recorded in the troubled 2020 financial year to record a growth of 14 per cent in assets during quarter three compared to the same period previously. According to the Sacco Societies Regulatory Authority (Sasra) chairman John Munuve, the sector’s assets…
Kisumu PSV Saccos Happy With Full Capacity Directive
By Malachi Motano Kisumu Bus Terminus was a beehive of activities on Monday as buses and matatus from different Saccos started ferrying passengers on full capacity. The development following a Memorandum of Understanding (MoU) between the Government and Matatu operators who said they had suffered losses since when the COVID-19 restrictions were introduced in March…
Kenyan Saccos lack investment diversification
By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are dragging their feet on diversifying their investment into new areas such as health and education as the high demand for loans among members put pressure on their wallets. While the desire to branch into areas such as health exists, not many members are ready to…
Untapped investment opportunities for Saccos in counties
By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are increasingly winning county government staff into the cooperative movement but are dragging their feet on investing in multiple sectors at grassroots level in order to deepen their relevance in the economy. The lack of properly structured internal policies for making targeting investments is standing in…
Saccos mull ways to address non-remittance of funds
By Malachi Motano The employer based Saccos must now adopt alternative methods to generate income and remain afloat even during difficult economic times like the current Covid – 19 pandemic, rather than relying on the unreliable employers who might remit their employees deduction at their own volition, leaving the societies at the verge of collapse…
PS says Sacco fund to protect depositors underway
By Malachi Motano The government is in the process of implementing the Savings and credit co-operative societies (Saccos) deposit guarantee fund to insulate depositors from unforeseen eventualities. “We are finalising the National Cooperative Policy that will allow the creation of the Sacco Deposit Guarantee Fund (SDGF), a scheme which will provide protection to Sacco deposits….
