Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Members of Gatagua Coffee Farmers’ Cooperative Society in Murang’a County have urged the government to suspend the Coffee Regulations 2019. During a Special General Meeting held recently, the farmers argued that the new regulations do not favor competition in the marketing of coffee hence denies them a chance to explore other opportunities for better returns….
Cooperatives today have become very important drivers of personal financial growth and the route to members’ economic empowerment. Since the first cooperative society was formed in Kenya and its subsequent success, both the private and public sectors embraced them as vehicles to financial breakthrough. Cooperatives must adopt the best policies, bylaws and strategies because good…
The Sacco Supervision Annual Report 2022 has revealed that Sacco membership grew by 7.02 per cent to hit 6.42 million. For the year ending 2022, membership in deposit taking Saccos stood at a staggering 5.96 million, representing an increase of 7.34 per cent. For non withdrawable deposit taking Saccos, membership increased by 3.14 per cent…
Cooperative Commissioner David Obonyo has called for a paradigm shift on how Saccos conduct their businesses, warning that relying on the check off system is no longer tenable. Most Saccos, Obonyo stated, were employee-based that depend on a check off at the end of the month to give loans, turning their back on millions in…
Invest and Grow (IG) Sacco has unveiled its 2023-2027 Strategic Plan. Speaking during the launch at Kakamega County Golf Hotel today, Chief Executive Officer Peter Vuhyah said that the move has marked a significant milestone for the Sacco as they embark on a journey of growth, innovation, and service excellence. The Strategic Plan has seven…
The importance of Saccos as suitable vehicles for mobilising local savings and extending affordable credit to their members requires no belabouring. The impact of the Sacco movement on the country’s economy has over the years been hailed as significant and a success story in the region and beyond. Stories abound that some big Saccos are…
Co-operative professionals and practitioners through their body the Kenya Society of Professional Cooperators (KSPC) have called upon the government through the State Department for Co-operatives to address the matter of timely data and information in cooperatives. The practitioners have further recommended for the establishment of an information and document portal with links to various users….
The national government has issued guidelines on approval of maximum borrowing powers by cooperatives. Commissioner for Cooperatives Development David Obonyo stated that the guidelines are to enhance good governance and leadership in the cooperative sector. In a letter dated August 16, 2023 directed to County Directors/ Commissioners for Cooperatives, CEO/MD- Cooperative Alliance of Kenya, Chairpersons…
The Kazi Mtaani Programme was launched in April 2020 to cushion the unemployed youth from the adverse effects of the Covid-19 pandemic across the 1450 wards in the country. Those recruited into the programme mainly engaged in menial jobs in urban areas. Though the programme was at times characterized by intermittent delays in payments, it…
One of the most important things a Sacco should do to succeed is to focus on elaborate flow of information. Sacco leaders should ask themselves the extent to which members have access to necessary information about their Sacco. It is important for members to know everything about their Sacco right from their savings, loans eligibility,…
