Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Bank lending rates differ widely despite a lower industry average Borrowers face different costs depending on the bank and loan terms CBK maintains the Central Bank Rate at 8.75 per cent Kenyans shopping for loans have been handed a fresh guide to the cost of borrowing. New Central Bank of Kenya (CBK) figures reveal a…
Banks are urged to measure MSME lending by its impact on jobs, businesses and livelihoods Fresh MSME lending reaches Ksh246 billion as banks target Ksh500 billion by year-end Lenders call for stronger data, smarter guarantees and more green financing for agriculture Commercial banks have been challenged to shift focus from the size of the loans…
MPs have raised concerns that a proposed Central Bank of Kenya levy on banks could lead to higher banking charges and loan costs for customers. The proposal would replace the current fixed annual fee with a levy of 0.15 per cent of a bank’s gross annual revenue. Lawmakers questioned the levy’s legal basis, penalty provisions…
Commercial banks became farmers’ top lender, overtaking Saccos. Saccos and Hustler Fund borrowing declined as farmers sought larger, flexible loans. Most loans funded farm inputs, while borrowing for machinery increased Commercial banks have overtaken Savings and Credit Cooperative Organisations (SACCOs) as the leading source of credit for Kenyan farmers, according to new data from the…
President William Ruto has called on commercial banks to expand credit access for micro, small, and medium enterprises (MSMEs), warning that limited financing continues to stifle growth in one of Kenya’s most vital economic sectors. Speaking at the World MSME Day celebrations held at the Kenyatta International Convention Centre (KICC) in Nairobi, the President emphasized…
There is no secret that Savings and Credit Co-operative Societies (Saccos) across the world have been developed to meet the fundamental human need of finding a way of saving and borrowing methods to promote the economic interest of their members. They achieve this co-operative principle through the co-operative business model savings culture among members. The…
Central Bank of Kenya (CBK) Governor Kamau Thugge has announced that in the next three months, commercial banks are expected to have transitioned to the new risk-based pricing models with new loans expected to be priced using the new framework beginning December 1, 2025. The model pegged on the Kenya Shilling Overnight Interbank Average (KESONIA),…
Nairobi Woman Representative Esther Passaris has urged the National Treasury to push the 5 per cent withholding tax on the interest income earned from the infrastructure bonds to 20 per cent. She revealed this in a statement on Thursday, May 16, 2024 seen by Sacco Review where she noted that the current proposed tax will…
