Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Leaders and farmers from the sugar belt want the role of Saccos redefined in the new sugar law to drive sugarcane development activities. Speaking during a sugar summit held in Kakamega, the leaders proposed that Saccos and outgrowers companies be the key drivers in sugar development and management. “Notable cane out growers companies and Saccos…
One of the key reforms introduced in the judicial system by the 2010 constitution was the implementation of Alternative Dispute Resolution mechanisms (ADR), which aimed to settle disputes in various sectors, including cooperatives. During the era of the Cooperative Societies Act, 1966, I vividly recall how cooperative disputes were resolved through a process known as…
Vipingo Workers Savings and Credit Cooperative Society Limited, established in 1988 to cater for the financial needs of workers in Kilifi South, Kilifi County, faces an uncertain future due to mismanagement of members’ funds. The Sacco’s instability is caused by irregular lending practices. The chronic financial mismanagement, highlighted by a Ksh41 million loss in an…
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….
