Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
The Kenyan Banking Sector asset base recorded a mixed trend in the quarter ended June 30, 2024, compared to the growth in the quarter ended March 31, 2024 a study has revealed. In the recent Central Bank of Kenya commercial banks’ credit officer survey for quarter ended June 30, 2024 where 38 commercial banks and…
Stakeholders in the cooperative movement have now called for urgent measures to ensure that the country’s Sacco umbrella body, the Kenya Union of Credit Co-operatives (KUSCCO), is regulated for safety of funds and restore the image of the union. This comes after the Cabinet Secretary (CS) for Cooperatives and MSMEs Development Simon Chelugui dissolved the…
Kenya is reputed to have the most vibrant cooperative sector in Africa. Financial cooperatives have grown exponentially necessitating the enactment of the sector-specific Sacco Societies Act, 2008, to regulate them. It is believed some Saccos have mobilised more deposits compared to some licenced commercial banks operating in the country. But what then ails this critical…
The Government intends to merge three major financial regulatory bodies in the country to enhance service delivery, avoiding duplication of roles and reduce bureaucracy. According to reports, Prime Cabinet Secretary Musalia Mudavadi said recently that the three regulatory bodies are Saccos Societies Regulatory Authority (SASRA), Capital Markets Authority (CMA), and the Insurance Regulatory Authority (IRA)….
There has been a general reduction in prices of key food items last month compared to February. This is according to Central Bank of Kenya (CBK) Agriculture Sector Survey findings. The survey conducted from March 11 to 15, 2024 was aimed at identifying market expectations and recent trends on prices of key commodities and output…
President William Ruto has nominated the former National Treasury Permanent Secretary (PS) Dr Kamau Thugge as Governor of the Central Bank of Kenya (CBK). If approved Dr Thuge will take over from Dr Patrick Njoroge who has been CBK governor since 2015. Thuge’s nomination comes after recruitment exercise that was carried out by the Public…
By Obegi Malack obegimalack@gmail.com The Central Bank of Kenya (CBK) has announced reinstatement of charges on transactions between mobile money and bank accounts starting January 1, 2023. The charges were waived on March 16, 2020 as part of the emergency measures to encourage the use of mobile money at the height of the Covid-19 pandemic….
