The Leading Newspaper for Co-operative Movement in Kenya
By Our Reporter. Garissa Teachers Sacco has opened its common bond in order to attract membership from other sectors including the Business community. This will enable the Sacco to diversity its business operations and strategy. Located in Garissa town, the Sacco is licensed by the Sacco Societies Regulatory Authority (Sasra) as a deposit taking institution….
By Kamundia Muriithi. The youth have been told to join and take loans from Savings and Credit Cooperative Societies (Saccos). Biashara Sacco Marketing Manager, George Njuguna advised the youth from Embu County to join Saccos so that they can qualify for loans. “By joining Saccos, youths can easily access loans to undertake various socio-economic projects,”…
By Murithi Kinoti. Meru County’s Smart Champions Sacco has splashed their marketing strategies as they seek to cash in on unbanked farmers and low-income earners. Sacco Chief Executive Officer, Robert Mbijiwe said the Smart Champions products are specifically developed to cater for farmers and will help in capturing the unbanked section of the population. “It…
By Tsozungu Kombe. Savings and Credit Cooperative Society members in Kwale County have been urged to embrace LIPA na M-PESA services to enhance efficiency. Safaricom Company Limited official in charge of South Coast Region, Kelvin Songa said that the LIPA na M-PESA services are efficient. “In Kenya, the ICT Sector has continued to grow by…
By James Wakahiu. Cooperatives in Kiambu County have grown their capital base to over Sh5 billion in the last five years. This was disclosed by the County Director of Cooperatives, Abigail Tabu. She attributed the growth to increase in membership which rose to 400,000. “There are 584 registered Co-operatives in Kiambu. We also have 43…
By Godfrey Wamalwa. Bungoma County women, boda boda operators and the youth have been urged to join the co-operative movement. Ng’arisha Sacco Chairman recently said the sacco sector is the most effective way of fighting poverty and inequality in the society. He urged the youth, women and people living with disabilities to join Saccos in…
By Kephas Ayiecha. Trans Nzoia County Governor has promised to create new Savings and Credit Cooperative Societies (Saccos) and revive the moribund ones to meet the financial needs of residents. Governor Patrick Khaemba said the county would come up with initiatives that would sustain growth of Saccos. He urged residents to form Saccos that will…
By Jackson Okoth. The Sacco Societies Regulatory Authority (SASRA) has extended the license of 11 Deposit-Taking Saccos that have failed to meet set prudential guidelines. The affected Saccos will now be allowed to operate on a temporary license until December this year when the regulator will again review their liquidity, governance and capital adequacy status….
By David Kipkorir. A consortium of 35 Savings and Credit Cooperative Societies (Saccos) have come up with interest free mortgages on housing loan schemes for their members. Kimisitu Sacco, Safaricom Sacco, Habitat Housing Cooperative, and Nation Sacco started the ball rolling on the scheme dubbed Africa Tenancy Purchase Initiative. An official of the scheme’s steering…
By Felix Wanderi. The Cooperative movement in Kiambu County has continued to grow registering a total of 558 Cooperative societies with a membership of 459,806. They boast a share capital of Sh4, 680,426,229 and a turnover of Sh15, 526,777,157. This was revealed during this year’s Ushirika Day celebrations. Speaking during the occasion, the County Director…
