Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Socio-cultural norms, lack of information, and male-dominated management in key sectors also limit participation. Martin Gichangi, an economist in Nairobi says women mostly shun Saccos in Kenya due to low disposable Incomes. By Mwiti Mukunga Fewer women join Savings and Credit Cooperative Societies (Saccos) in Kenya compared to men which is detrimental to the overall…
Cabinet Secretary for Cooperatives and SMEs, Wycliffe Oparanya, has announced the introduction of a Deposit Guarantee Fund aimed at protecting members’ savings in SACCOs in the event of a SACCO collapse. Oparanya assured members that their deposits would be safeguarded, ensuring that they can recover their money even if their SACCOs fail. Speaking about the…
The State-appointed team has opposed trading of Savings and Credit Cooperative Organization (SACCO) shares between members or on the National Securities Exchange (NSE), warning that the practice compromises the spirit of ownership and long-term participation. This comes on the back of a push by NSE for listing of Saccos on the stock market to boost…
The Kenya Union of Savings and Credit Co-operatives (KUSCCO) has officially begun disbursing refunds to SACCOs, marking the first major step in settling the Ksh6.2 billion it owes its members. The long-awaited repayments follow a financial crisis at the union that was attributed to mismanagement and fraudulent activities under previous leadership. Co-operatives and MSMEs Cabinet…
Cabinet Secretary for Cooperatives and MSMEs Development, Wycliffe Oparanya has visited NYOTA Business Development Services (BDS) training centers in Kiambu and Nairobi counties to assess the progress, beneficiary engagement, and overall impact of the entrepreneurship training program as it nears completion. In Kiambu County, CS Oparanya visited ACK Kiu River School, which hosted eight training…
Cooperatives and Micro, Small and Medium Enterprises (MSMEs) Development Cabinet Secretary (CS) Wycliffe Oparanya has urged counties in the Lake Region Economic Bloc (LREB) to strengthen cooperative structures and embrace digital systems to tap the resources available for development. He also called on them to jointly pursue financial reforms to unlock regional economic potential ahead…
Kenya’s Savings and Credit Cooperative Societies (SACCOs) have recorded a significant increase in the value of transactions processed through their agent networks in 2024, even as the total number of transactions saw a slight decline, according to the latest industry data. The volume of transactions handled by SACCO agents rose to Ksh31.65 billion in 2024,…
Cabinet Secretary (CS) for Co-operatives and MSMEs Development, Wycliffe Oparanya, has raised concerns over the misclassification of Transport Cooperatives as Savings and Credit Cooperative Societies (SACCOs), urging for a comprehensive review of their structure and regulatory oversight. Speaking during the official release of the Sacco Supervision Annual Report 2024, Oparanya noted that several entities operating…
In a resounding affirmation of the cooperative movement’s vitality, Kenya’s Savings and Credit Cooperative Organizations (SACCOs) have shattered the Ksh 1 trillion barrier in total assets, cementing their status as a cornerstone of the nation’s financial ecosystem. The landmark achievement was unveiled by Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises (MSMEs), Wycliffe…
Cabinet Secretary in the Ministry of Co-operatives, Wycliffe Oparanya has dismissed a new report by the Kenya Human Rights Commission, (KHRC) that had recommended scrapping of Hustler Fund. The report released on 4th August described the fund as a politically expedient but economically disastrous initiative that has failed to deliver on its promises of financial…
