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

Finance Act 2026 exempts SACCOs, banks from VAT on repossessed collateral sales

Sacco ReviewJune 27, 202604 mins

Savings and Credit Cooperative Organizations (SACCOs), banks, and other financial institutions will no longer pay Value Added Tax (VAT) on the sale or disposal of repossessed collateral, following amendments introduced in the Finance Act 2026, which was signed into law by President William Ruto on June 23, 2026. This amendment marks a significant shift in…

Sacco CEO encourages members to choose financial institutions wisely before investing

Sacco ReviewJuly 1, 2025July 1, 202503 mins

Suluhu DT sacco Chief Executive Officer, (CEO) has advised members intending to join the sacco to have a thorough review of financial institutions they intend to invest with. Speaking during the Sacco’s education day, the CEO Sammy Mutemi noted that all saccos are good but encouraged members to understand the parameters in each Sacco they…

How to transform financial setbacks into success

Sacco ReviewJune 14, 202408 mins

In managing our finances and personal development, this is like a metaphorical transformation of milk to yogurt, and then to cheese, revealing a profound truth about the nature of mistakes and their ability to create value. Just as cheese is a more valuable dairy product than both milk and yoghurt and sour grape juice melts…