The Leading Newspaper for Co-operative Movement in Kenya
By Erick Nyayiera Siaya County government through the department of Enterprise and Industrial Development has been asked to channel its Co-operative Development Funds to residents through established Savings and credit co-operative societies (Sacco’s). According to Bondo sub-county Commissioner of Co-operatives Aineah Ayamba, the Co-operative Development Fund will only benefit Siaya residents if it is channeled…
By Our Reporter Homa Bay County Women’s Sacco is on the verge of turning into a bank. The Sacco is currently pursuing a partnership with the Women Enterprise Fund (WEF) to fulfill its mission. The society was started by Woman Representative Gladys Wanga about three years ago. Currently it has 10,000 members. Its success has…
Below is a glimpse on what co-operators earned for the financial year 2017 from various saving and credit societies based on financial reports seen by Sacco Review.
By Kage Njoroge Amica Savings and Credit Society, one of the fastest growing Saccos, has urged its customers to embrace emerging technologies and transact their business on the Sacco’s ICT money transfer platforms for their convenience. Amica Sacco’s management calls on its clients to take up technology based alternative channels to access quick services, without…
By Munene Maina Kingdom Sacco has joined Tier 3 category of medium Saccos. The Sacco registered growth in asset base to Sh1.116 billion by close of 2017 to move up from Tier 4 category of small Saccos. It registered positive performance in the year despite various challenges arising from the political and economic environment in…
The recent revelation by the Senior Deputy Commissioner, State department for Co-operatives Geoffrey Njang’ombe that loan defaulters owe Saccos over Sh8 billion does not augur well for the sector. Ridiculously, these loans have not been serviced over several years yet the defaulters are still earning their monthly incomes apart from owning assets worth billions of…
By Renson Ireri Kenya prides in continuous growth of co-operative societies over the years with the Co-operative movement now rated position one in Africa and seventh in the world, comprising over 15,000 registered co-operative societies according to the International Co-operative Alliance (ICA). The movement also controls our economy in a big way, accounting for around…
By John Majau Jamii Bora Bank and Capital Sacco have partnered in a bid to provide affordable housing for its members. The two financial institutions signed a Memorandum of Understanding in Meru town recently. During the initial stages the two institutions will target 10,000 members of the Sacco with the feasibility study focusing on the…
By Godfrey Wamalwa Bungoma County Governor Wycliffe Wangamati has said his Government will provide necessary support to revive dormant Saccos and support their growth. He said the County Government will seek support of County Assembly members in legislating laws that will seal the loopholes in the co-operative sector used by unscrupulous people to run down…
By Our Reporter Increasing loan defaulters have affected, Viktas Sacco operations, Chairman Stephen Gathiru has said. “We have taken collective efforts to curb loan defaulting. I would kindly request our members to seek financial advice from our officers when acquiring loans as this will help them make informed decisions,” he said. Gathiru noted there was…
