defaulters - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

MPs Directs Hustler Fund Department to Submit List of Defaulters

Sacco ReviewOctober 2, 202404 mins

Members of Parliament have instructed the Financial Inclusion Fund, popularly known as the Hustler Fund, to submit a comprehensive list of loan defaulters. The MPs under National Assembly Special Funds Accounts Committee want the committee to present comprehensive details of the defaulters. The Committee which met Principal Secretary Susan Mang’eni and Acting Chief Executive Officer…

State to seize assets of Co-op loan defaulters

Sacco ReviewJune 7, 2018013 mins

By Munene Maina Saccos across the country have introduced a raft of measures to tame the increasing number of loan defaulters. Defaulters in the co-operative movement now risk having their assets seized by the Government to recover the monies owed to the respective savings and credit co-operative societies. The Deputy Commissioner, Geoffrey Jang’ombe said defaulters…

Kitui Teachers Sacco goes after loan defaulters

Sacco ReviewApril 30, 201802 mins

By Bonface Mulu Kitui Teachers Sacco plans to reduce cases of loan defaults and has partnered with Trans Union to share credit information with other financial institutions. The Sacco Chairman, Dr. Joseph Kithome , said the move would stabilize the Sacco as cases of loan defaults would be minimized and members with bad credit history…

New law to catch Sacco loan defaulters

Sacco ReviewApril 26, 201809 mins

By Azael Masese The noose is set to tighten on Savings and Credit Co-operative Societies (Saccos) loan defaulters with a proposed law that allows them share records of all members having been tabled for debate in Parliament. Sacco will share amongst themselves the credit records of their members if a Bill before Parliament is passed…

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Rethink on opening of common bond timely

Sacco ReviewMarch 21, 201804 mins

The Government has communicated of its intention to go slow on approving plans by saccos that seek to open the common bond. Common bond is where a sacco recruits members outside its jurisdiction. For instance, common bond occurs when a sacco affiliated to teachers opens its doors to members outside teaching profession. Recruiting members from…