Saccos urged to fully digitize their services, embrace digital economy

The world of finance is evolving at an unprecedented pace, with customers demanding efficiency, convenience and faster financial services. This is a wake-up call to SACCOs to digitize their services to allow customers to access their accounts and perform a wide range of transactions so as to avoid losing market share to tech-savvy competitors. “Digital…

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Chelugui: Gov’t committed to supporting Coop movement

The co-operative movement in Kenya is playing a vital role in the realization of the government’s Bottom-Up Economic Transformation Agenda. This is according to Cooperatives and Micro, Small, and Medium Enterprises (MSMEs) Development Cabinet Secretary (CS) Simon Chelugui, who praised the sector’s role in economic growth, alleviating poverty and advocating for social inclusion. Speaking in…

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SASRA SACCO

The evolving landscape of the SACCO movement in Kenya

The concept of Savings and Credit Cooperative Societies (SACCOs), which have today become an essential part of Kenya’s financial landscape in promoting financial inclusion and empowering communities by providing access to affordable financial services, has a rich history traced to the colonial era. SACCOs started with the formation of agricultural cooperatives aimed at providing financial…

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tea factory

Kiamokama Tea Factory decries poaching from rival factories

The management of Kiamokama Tea Factory in Kisii County has embarked on an ambitious programme to recover millions of kilogrammes of green tea leaves which they have been losing through invasion and poaching by a number of neighbouring companies targeting their farmers. According to the factory’s Board Chairman Richard Obino, the encroachment by their competitors…

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ICT players urged to adopt technology to ensure audit compliance

Players in the Information, Communication and Technology (ICT) industry have been encouraged to adopt Artificial Intelligence (AI) technology while conducting audit exercises and ensuring conformity to governance compliance in the process. Speaking during the Governance, Risk and Compliance (GRC) conference hosted by ISACA Kenya Chapter and held at Sarova Imperial Hotel in Kisumu, Deputy Auditor…

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