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

Imarisha Sacco sets stage for delegate elections as nomination process begins

Sacco ReviewMay 10, 202604 mins

The members of Imarisha Sacco Society Limited have been officially notified of upcoming elections for delegates, in a process aimed at strengthening representation and enhancing governance within the cooperative society. In a notice issued to all members and delegates, the Sacco confirmed that the election exercise will be conducted soon, with the specific dates and…

SACCO sector posts KSh 845 billion in loans as NPL ratios hold steady amid rising risks

Sacco ReviewMay 5, 202605 mins

According to data from the Sacco Societies Regulatory Authority (SASRA), the SACCO industry closed 2024 with gross loans valued at KSh 845.11 billion, marking an 11.41 per cent increase from KSh 758.57 billion a year earlier. Despite the rapid credit expansion, the sector’s non‑performing loan (NPL) ratio remained steady at 8.39 per cent, according to…

Ruto calls for Sacco overhaul to improve governance, technology

Sacco ReviewFebruary 12, 202602 mins

President William Ruto has called for transformation of Savings and Credit Cooperative Organisations (SACCOs) into stronger, more efficient institutions that directly benefit Kenyan communities. Speaking at State House in Nairobi, after receiving a report from experts who reviewed the governance and operations of SACCOs, President Ruto said there is need for SACCOs to modernize systems,…

Government plans to finalize Cooperatives Bill to strengthen governance and legal collaboration

Sacco ReviewDecember 6, 202405 mins

The government is planning to finalize the Cooperatives Bill that will enhance governance and legal collaboration between the national and county governments. The ministry is relooking at the Sacco Societies Act to be amend and establish a central liquidity facility and shared services platform to streamline the financial services. According to the CS Oparanya, Saccos…

CS Oparanya calls for actionable ideas to propel Kenya’s Cooperative Movement forward

Sacco ReviewNovember 25, 202404 mins

Cabinet Secretary for the Ministry of Cooperatives and MSMEs Development, Wycliffe Oparanya, has urged cooperative movement stakeholders to come up with actionable ideas to propel the cooperative sector forward. Oparanya, who was addressing the cooperative movement stakeholders during the 3rd Annual Cooperative Movement Stakeholders’ Forum held from 18th to 22nd November 2024 in Naivasha, said…

Adopt AI technology to ensure compliance in auditing, ICT players urged

Sacco ReviewOctober 30, 2023October 30, 202304 mins

Players in the Information, Communication and Technology (ICT) industry have been encouraged to adopt Artificial Intelligence (AI) technology while conducting audit exercises and ensuring conformity to governance compliance in the process. Speaking during the Governance, Risk and Compliance (GRC) conference hosted by ISACA Kenya Chapter and held at Sarova Imperial Hotel in Kisumu, Deputy Auditor…

Saccos advised to apply corporate governance

Sacco ReviewJune 9, 201802 mins

By Tsozungu Kombe Kenya Police Sacco National Chairman David Mategwa has urged top Sacco officials to be transparent and accountable to enhance efficiency in their respective societies. Mategwa said that the co-operative movement plays a vital role in the country by uplifting living standards of Kenyans. He asked Saccos in the country to comply with…

County to support capacity building in local co-ops

Sacco ReviewApril 26, 201802 mins

By Joseph Mukubwa Nyeri County Government has pledged to create platforms to enable knowledge and experience sharing among co-operatives so as to improve the trust and confidence in the sector. Governor Mutahi Kahiga said he has already directed the department responsible for co-operatives to beef up the capacity in terms of human resource charged with…

Mercy Njeru joins KUSCCO as Manager

Sacco ReviewMarch 22, 201801 mins

KUSCCO has appointed Mercy Njeru as its Advocacy Manager in charge of KUSCCO’s core objective of advocating for Saccos in Kenya. She is a PhD student in Leadership and Governance, a holder of an MBA in Strategic Management, BBA Accounting and Finance and a Diploma in Co-operative Management. Mercy was formally the Chief Executive Officer…

Govt asked to revise taxation on Saccos

Sacco ReviewMarch 10, 201804 mins

By Benedicto Ng’etich The Chairman of Simba Chai Savings Co-operative Society Engineer Joseph Mitei has complained of the high rate of taxation directed at co-operative societies in the country. He said co-operatives should come together and lobby legislators to formulate laws which are friendly to saccos. “We want people elected into various political offices to…