The Leading Newspaper for Co-operative Movement in Kenya
By Bonface Mulu Kitui Teachers Sacco plans to reduce cases of loan defaults and has partnered with Trans Union to share credit information with other financial institutions. The Sacco Chairman, Dr. Joseph Kithome , said the move would stabilize the Sacco as cases of loan defaults would be minimized and members with bad credit history…
By Stephen Makabila It will not be business as usual for the increasingly vibrant service providers in the Co-operative Sector when the new Co-operative policy is operationalised soon. The government, through the State Department of Co-operatives, now plans to vet service providers to ensure briefcase firms milking Saccos and Co-operatives are locked out. “There are…
Azael Masese Two Saccos, which cannot be named for legal reasons, will soon be dissolved for non-compliance, State Department for Co-operatives has indicated. Senior deputy commissioner Geoffrey Njang’ombe said they are about to revoke their licenses which will lead to their dissolution. The move comes at a time when the Government is set to introduce…
By Kiptanui Rutto Improved efficiency will prove critical in the Sacco sub sector as the battle for increased membership intensifies. In order to achieve that coveted target, the application of technology has come in handy to provide top-notch solutions in the business world. One of such Information Technology (IT) solution provider that has walked hand…
By Stephen Makabila A major re-organization awaits public transport saccos in the country when the much awaited new National Co-operative policy is finally unveiled soon. The Sacco Review has exclusively established that the government recognizes all existing PSV Saccos, Tutuk Saccos, Boda Boda Saccos, Taxis Saccos, Car Hire Saccos and Transporters Saccos (Lorries) as Saccos…
By Staff Reporter Maktaba Sacco members have been given a notice to clear any outstanding loans they owe the society or risk being registered with the Credit Reference Bureau (CRB). The society indicated that to enhance their loan recovery mechanisms, it had registered with CRB to report those who do not conform to the regulations….
By Staff Reporter Madison Co-operative Sacco has registered with Credit Reference Bureau. Thus, members who have not paid their loans for the past 90 days will be listed as provided in the Finance Act 2016. Through a notice in one of the local dailies dated February 16, the society requests those with non-performing loans to…
By Wesley Ken Kimisitu Sacco plans to introduce a Front Of¬fice Service Activity (FOSA) wing to offer basic banking services to members. The front office will enhance efficiency in providing services to its members to meet their banking needs and other financial services which will complement products and services offered by the back office services….
By Mary Ndung’u According to data from Sacco Societies Regulatory Authority (SASRA) supervision report for the year 2016, the five largest Deposit taking Saccos based on turnover had a combined total of 39 branches. The Sacco with the highest number of branches in this category had 15. On the other hand, the 5 smallest deposit…
By Achola Mathews Teachers have been urged to embrace the saving culture and join saccos so that they are able to reap big profits from loans and profitable projects. Knut executive secretary Teso branch Deogratius Owaya called on teachers to start saving and investing in projects that will help them in future. Owaya said the…
