Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Kenya Union of Savings & Credit Co-operatives (KUSCCO) National Chairman George Magutu has urged women and youth to vie for leadership positions in their Saccos to take them to the next level. Mugutu said for many years, youth and women have been sidelined hence they should rise up and be ready to take up positions,…
Kenya Union of Savings and Credit Cooperatives (KUSCCO) Advocacy Manager Mercy Njeru has urged the government to allow only the official regulator to audit Saccos in the country for improved efficiency, transparency and confidence among cooperative societies. Njeru said currently there are many state agencies competing to audit Saccos, raising suspicion among Saccos to the…
Rift Valley KUSCCO Regional Manager Stephen Makori has called upon governors from Rift Valley region to fund small and upcoming Saccos and cooperative societies to ensure their sustainability. Speaking during the Ushirika Day celebrations, the manager noted that most of such Saccos do not have adequate funds for capacity building and leadership training hence they…
Farmers have been urged to join cooperative societies to increase their bargaining power and access to credit. Uasin Gishu County Chief Officer for Agriculture Elphas Kesio revealed that the county government is committed to solving the challenges facing farmers including low produce prices and limited access to credit. He called on farmers to diversify their…
Kenya Union of Savings and Credit Co-operative (KUSCCO) has asked defaulting government institutions to release billions worth of statutory deductions they owe Saccos in the country. KUSCCO Group Managing Director George Ototo said the non remittance by the two governments had created operational challenges for many Saccos. Ototo added that it was imperative that urgent…
While Saccos have been in existence for years and being lauded as priceless savings and credit extension avenues, it now looks quite challenging to convince the youth to save in Saccos. The Sacco sub-sector Demographics Study Report of 2019 released by Sacco Society Regulatory Authority (SASRA), which carried an in-depth study on age and gender…
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…
Kenya Union of Savings & Credit Co-operatives Ltd (KUSCCO) has presented their memoranda on tax matters affecting Saccos in Kenya where they have said that there will be implications under the current tax law provisions. Saccos with corporate members would lose the tax benefit of exemption. Interest income from members and 50% for the interest…
KUSCCO Rift Valley Regional Chairman David Langat has revealed that 22 Saccos from the region have joined the umbrella association. Speaking at Waterbuck Hotel in Nakuru City during KUSCCO’s 35th regional council meeting, Lang’at welcomed the Saccos into the union and promised to assist them prosper in their programmes. The new members are Chemoton, Elean,…
KUSCCO Rift Valley Regional Chairman David Langat has revealed that 22 Saccos from the region have joined the umbrella association. Speaking at Waterbuck Hotel in Nakuru City during KUSCCO’s 35th regional council meeting, Lang’at welcomed the Saccos into the union and promised to assist them prosper in their programmes. The new members are Chemoton, Elean,…
