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

CPA Jared Moenga - Gusii Mwalimu DT Sacco CEO

Gusii Mwalimu DT Sacco records strong growth as assets rise to Ksh18.4 billion

Sacco ReviewApril 7, 2026April 7, 2026011 mins

Gusii Mwalimu DT Sacco has recorded impressive growth across key financial indicators, with total assets rising from Ksh16.2 billion in 2024 to Ksh18.4 billion in 2025, representing an increase of 13.3 per cent. The Sacco also registered steady growth in deposits, loans, revenue and membership, underscoring its strong position within Kenya’s co-operative movement and its commitment…

SASRA suspends 5 SACCOs from receiving deposits due to unrenewed license

Sacco ReviewFebruary 6, 202604 mins

The Sacco Societies Regulatory Authority (SASRA) has suspended five SACCOs from receiving deposits, allowing them to operate under restricted credit-only permits. According to the Authority, those affected by the measures include Dumisha SACCO Society Ltd, Bi-High SACCO Society Ltd, Metropolitan National SACCO Society Ltd, Ol’Kaunsel Regulated Non-WDT SACCO Society Ltd, and Digital Media Regulated Non-WDT…

More than 18 million Kenyans have not joined cooperatives

Sacco ReviewJuly 4, 2024July 4, 202403 mins

The government is now aiming to have Kenyans embrace saving culture for betterment of their financial well-being. Cooperatives Principal Secretary Patrick Kilemi says more than 18 million Kenyans are not in cooperatives and the government is pushing to have them save the little they make through cooperatives. The PS says they are encouraging Kenyans to…

Hazina Sacco opposes introduction of levy on non-withdrawable Sacco deposits

Sacco ReviewJanuary 18, 2024January 18, 202404 mins

Hazina Sacco Chairman Evans Kibagendi has opposed the introduction of a levy on cash deposits held by Non-Withdrawable Deposit-Taking Saccos by the Sacco Societies Regulatory Authority (SASRA) beginning January 2024. Kibagendi will greatly affect the revenue of Saccos as a whole, and the savings of individual members who are ideally the owners of the Saccos….

Increase Sacco shares to qualify for higher loans, members told

Sacco ReviewAugust 21, 2023August 21, 202302 mins

Uasin Gishu County Executive Committee Member for Trade, Industrialization, Tourism, Cooperatives, and Enterprise Development Martha Cheruto has urged cooperators to work on increasing their Sacco shares and deposits to enable them to access the County Enterprise Development Funds that attract low-interest rates on loans. “Higher savings enable one to qualify for higher loans,” she said….

Societies urged to improve share capital, deposits

Sacco ReviewJuly 30, 201803 mins

By Azael Masese Savings and Credit Co-operative Societies in Machakos County have been urged to conduct aggressive marketing campaigns to increase their business volumes. County Co-operative Officer Joe Maina noted that critical among them is to improve on their share capital and deposits. Despite the societies’ closeness to Nairobi and the commercial opportunities it presents,…

Uncategorized

State to dissolve two Saccos for non-compliance

Sacco ReviewMarch 21, 201804 mins

By Staff Reporter Two Saccos, which cannot be named for legal reasons, will soon be dissolved for non-compliance, State Department for Co-operatives has indicated. Senior Deputy Commissioner Geoffrey Njang’ombe said they are about to revoke their licenses which will lead to their dissolution. The move comes at a time when the Government is set to…

Kilifi County Co-op members’ deposits shoot up

Sacco ReviewMarch 9, 201803 mins

By Tsozungu Kombe Kilifi County Cooperative members have improved their deposits substantially. Speaking during this year’s Ushirika Day celebrations held at Barani Secondary School in Malindi town, the County Trade, Industrialisation and Cooperatives Development Ministry Chief Officer, Patience Tsimba Umazi said prior to devolution, the deposits stood at Sh 2.3 billion but have now shot…