The Leading Newspaper for Co-operative Movement in Kenya
By Tindi Kuchio IG (Invest and Grow) Savings and Credit Co-operative Society Limited members have been urged to buy more shares in the Sacco when their salaries are increased. Speaking during the Sacco’s Special Delegates Meeting at Golf Hotel in Kakamega recently, Kakamega County Co-operative Commissioner, Nathan Mukhweso said this will increase the Sacco’s share…
By Mary Wanjiru Ndung’u Savings and Credit Co-operative Society’s (Saccos) membership recruitment is an ongoing process that requires planning and a well thought out strategy. The reasons as to why Saccos need to constantly recruit is so as to grow their membership base, maintain their relevance and strengthen their financial muscle. Recruiting is the lifeblood…
By Jackson Okoth The Sacco Societies Regulatory Authority (SASRA) has raised the red flag over an increase in the volume of Non-Performing Loans (NPLs) beyond the prescribed limits. The Authority is also concerned that most DT-Saccos are not retaining sufficient earnings to build capital, proportionately to the growth of their asset bases. “It also shows…
By Staff Reporter Kiambu County has the highest distribution of Deposit-Taking Saccos headquarters outside the national capital, Nairobi. According to the market regulator, the Sacco Societies Regulatory Authority (SASRA) report, the national commercial and administrative capital, Nairobi City County, hosts headquarters of 41 DT-Saccos while Kiambu has 15. The Co-operative Societies Act under which DT-Saccos…
By Jackson Okoth A trend is rapidly emerging where DT-Saccos prefer to look inwards when seeking to replace Marketing Managers, Finance Managers, Chief Executive Officers or even Chairpersons to the Boards of Directors. Those Saccos with no suitable replacements from within the society would rather poach these executives from other saccos rather than extend their…
By Our Reporter. Kilifi County Secretary, Bibi Fondo has said Sh95 million will be allocated to women, youth and people with disabilities through Saccos to improve their living standards. Speaking during the official closing ceremony of Imarika Sacco Special Delegates Meeting recently Fondo said that many people in the country have managed to accomplish their…
By Kage Njoroge. Amica Savings and Credit Society has embarked on strategic measures to reduce the cost of doing business in the highly competitive financial sub-sector. Amica Chief Executive Officer (CEO), James Mbui said that the steps being taken include closing down branches facing challenges, engaging in agency banking contracts, application of ICT driven service…
By John Ochieng. Migori County residents have been encouraged to embrace co-operative societies in a bid to improve economically. Migori County Lands and Co-operatives Minister, Elizabeth Ochae said that the county has always given necessary support to the co-operative societies in the region. She promised that it will continue working together and support co-operative societies….
By Munene Maina. Members of Ol Kalou-basedTower Sacco Society Limited will put up a Sh 75 million four-storeyed office complex to serve as the Society’s head offices. A feasibility study conducted by the Society’s Board of Directors found that the Sacco has outgrown its current office block and is in need of more space as…
