Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Employer based Saccos must now adopt alternative methods to generate income and remain afloat even during difficult economic times rather than relying on the unreliable employers who might remit their employees deduction at their own volition, leaving the societies at the verge of collapse when they cannot support their operations. “Non -remittance of the dues…
The proposed Co-operative bill will see the transformation of Co-operatives in the country into a four-tier structure of primary, secondary, co-operative federations and apex co-operatives. According to the Draft Co-operatives Societies Act 2021, Primary Co-operatives, which may admit into its membership a corporate or an unincorporated person, shall include producer, housing, Saccos, savings and investment,…
Education, training and information, the fifth Cooperative principle, was established and adopted by the International Cooperative Alliance and later embraced locally through the enactment of the Cooperative Act. The goal and objective of this principle is to ensure that cooperative members understand their responsibilities and rights. It also seeks to ensure cooperatives educate and train…
Safaricom Sacco has signed a memorandum of understanding with Centum Real Estate, a move that seeks to enable the Sacco members buy residential homes in Nairobi, Kilifi, and Entebbe, Uganda. Through the MoU, sacco members will be financed to acquire all properties under development by Centum RE at a lower price than the market rate….
Yetu Sacco is gearing up to launch a new branch in Chuka town, in a move meant to bring services closer to members.The new branch, which will be launched on June 19, 2023, will bring the total number of branches to eight.Speaking during the Society’s 31st Annual General Meeting (AGM), Sacco Board Chairman Mark Gitonga…
Many Saccos countrywide are using publicity campaigns to net in more members which consequently increases their share capital and liquidity. The Saccos adopt big marketing budgets as a move towards making them more popular among their target market. Adopted publicity materials are creative, attractive and direct since they are tailored to reach and entice specific…
Small rural based enterprises, especially women groups in Embu county, have appealed for help from various experts in the cooperative movement to help them create ecofriendly products. One such enterprise is Kiritiri Kwimenya Self Help Group which makes eco-friendly Kiondo bags from sisal fibre. The bags are mainly sold through barter trade with maize growers…
By Azael Masese Kenya National Police Deposit-Taking Sacco is crafting an ambitious growth strategy aimed at positioning itself as a critical brand in mobilising savings and extending affordable credit, even as the number of Kenyans joining the Sacco to access its top notch products and services grows overboard, Board Chair David Mategwa has said. “We…
By Azael Masese A new Sacco Supervision Report, 2021 indicates that the Sacco sub-sector’s total assets grew by 9.93 per cent in 2021 to reach Ksh807.11 billion from Ksh734.22 billion recorded in 2020. During the period under review, total deposits grew by 9.80 per cent in 2021 to reach Ksh564.89 billion compared to Ksh514.46 billion…
By Bernard Boy Airports Sacco Society rode on Kenya’s relatively improved economic performance post-pandemic to remarkably register all-round growth in its key performance indicators in the year ended December 31, 2021. With its asset base, total deposits, share capital, net loan portfolio and total revenue growing by between 4.3 and 19.8 percent (not in that…
