Kenyan Cabinet Secretary in charge of Co-operatives and MSMEs Development Hon. Simon Chelugui, EGH (left) receives the 2024 SACCA Mantle from his Botswana Counterpart Hon. Karabo Socraat Gare. This signified Kenya will host 2024 event.

Kenya to host African cooperatives congress

Savings and Credit Cooperative Annual (SACCA) Congress will be held in Kenya later this year. Plans to host the 2024 SACCA Congress in the country have started in earnest with the constitution of a high-level working group. The Congress will go along the same lines as the previous Continental Congresses that made important contributions towards…

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Cynthia Wandia, Co-Founder and CEO of Kwara.

How Fintech is revolutionizing the Sacco movement in Kenya

According to a report submitted by Accenture to the Financial Sector Deepening (FSD) Kenya, Saccos are one of the leading sources of finance, and in many rural areas, local Saccos are the only provider of financial services. Fintechs are becoming invaluable partners for Saccos in Kenya who provide innovative digital solutions to streamline their operations…

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Officials and cooperative representatives from Ghana.

Ghanaian officials in Kenya to benchmark cooperative movement

Senior officials from the Government of Ghana, including representatives from the Ghana Co-operative Credit Unions Association (CUA), Ministry of Finance, and the Department of Cooperatives, are currently in Kenya to benchmark the country’s cooperative movement which is considered the largest in Africa. According to the 2022 Statistical Report by the World Council of Credit Unions,…

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Kenya, DRC sign bilateral agreement on agricultural cooperation

By Andrew Walyaula Waliaulaandrew0@gmail.com Kenya   has signed a bilateral agreement with Democratic Republic of Congo (DRC) to boost agricultural productivity and food security, through “mutually beneficial trade”, education and research. DRC will provide a ready market for Kenya’s food products which are the main exports and account for 33 percent of the nation’s Gross Domestic…

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KMFRI Sacco to open FOSA branch

By Wesley Ondieki Kenya Marine and Fisheries Research Institute (KMFRI) Sacco is set to open a fully fledged FOSA branch outside Mombasa, Sacco Chairman, Rashid Anam (pictured) has said. “Among our future prospects, we will have a FOSA in a place yet to be identified outside Mombasa. We will also partner with members to start…

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Regulator warns banks against fake ‘saccos’

By David Kipkorir. The Central Bank of Kenya (CBK) has warned banks and financial institutions against opening accounts for fake pyramid schemes operating as saccos. Central Bank of Kenya in a circular urged banks to ensure they scrutinise transactions where non-deposit taking saccos mobilise huge sums from unsuspecting Kenyans. “This circular is to caution financial…

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