The Leading Newspaper for Co-operative Movement in Kenya
Rebranding and opening of common bond has left out Saccos grappling with a myriad of challenges. The increasing rate of loan defaults after entry of new faces, not known by the rest of the group, have pushed some Saccos to unfamiliar territory that have left some with lingering questions… Read this and many more stories…
By Staff Reporter President Uhuru Kenyatta has directed the Ministry of Industry, Trade and Co-operatives to immediately operationalize the proposed Sacco Societies Fraud Investigation Unit within the Sacco Societies Regulatory Authority (SASRA). This is part of a series of policy and regulatory measures that he said the Jubilee administration has initiated so as to create…
By Kage Njoroge Amica Sacco Chief Executive Officer James Mbui has advised cooperators to go take loans for development purposes. “Good loans help us seize investment opportunities when they arise, which give higher rate of return than the cost of loan taken,” he said. Mbui noted many Kenyans especially the youth fall into the trap…
By Boniface Mulu The government will continue supporting the modernisation of agriculture and teaching farmers the importance of growing crops suitable for their agro-ecological zones using the right techniques. Agriculture Cabinet Secretary Mwangi Kiunjuri also said the government is focused on making agriculture attractive to the young people. Kiunjuri made the remarks in a speech…
By Benedict Ng’etich Co-operative societies have been urged to embrace diversification in order to reduce the negative effects of drought. Tea-based societies in Kericho and Bomet counties were greatly affected by pro-longed drought that affected the country leading to the sharp drop in green leave production. Lawrence Kikwai, a delegate at Patnas Sacco who represents…
By Erick Nyayiera Kisumu County Government is seeking to mobilise over 30,000 boda boda operators to join or form Saccos. The outgoing Co-operatives Director in the county Zephaniah Osok said boda boda Saccos have the potential to spur development in the area. “If they can each contribute to their Sacco at least Sh 100 daily…
By Felix Wanderi Cooperative societies in Kiambu County have been urged to have a strong role in creating decent jobs and empower local communities economically and socially. This was emphasized during the 97th Ushirika day celebrations held at Limuru Model Primary School. “Co-operatives being value-driven enterprises owned, controlled and run by members should serve to…
By Collins Akong’o The Cooperatives Alliance of Kenya Chief Executive Officer Daniel Marube has called on the government to speed up ratification of the national policy on cooperative development. Speaking in Mombasa during Ushirika Day celebration, Marube said a standardized national policy on activities of cooperative societies will spur growth across the 47 counties. He…
By Mathews Achola Trade and cooperatives department in Busia County is considering partnering with Metropol and Trans Union Credit Reference Bureaus (CRBs) in sharing data of beneficiaries of the Cooperative Enterprise Development Fund (CEDF). Chief Officer in the department Nelson Kwamini to Sacco Review the move to share the data is meant to ensure defaulters do…
By Jackson Okoth Savings and Credit Co-operative Societies, which include deposit-taking as well as those engaged in back office operations, have mobilized savings to the tune of more than Sh 420 billion, estimated at 35 per cent of overall national savings. This volume of savings is expected to double in the next few years arising…
