Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By George Otieno Cooperative Commissioner David Obonyo has called for a paradigm shift on how Saccos conduct their businesses, warning that relying on the check off system is no longer tenable. Most Saccos, Obonyo stated, were employee based Saccos that depended on a check off at the end of the month to give loans that…
By George Otieno All Cooperatives will in future become federations and subscribe to an apex body, group managing director of the Kenya Union of Savings and Credit Cooperatives (KUSCCO) George Ototo has hinted. A restructured Cooperative sector will ensure sustainability and viability as it will solely depend on the subscription of the cooperative members. Ototo…
By Peter Otuoro Kenya Union of Savings and Credit Cooperatives (KUSCCO) has encouraged Cooperative Societies to have a long-term strategic plan to act as a gateway to the development of Cooperative societies in Rift Valley. Rift Valley KUSCCO Manager Stephen Makori said the strategic plans will enable them improve on their strengths and opportunities as…
By Fred Sitati Cooperatives, by their very definition, are formed to serve the socio-economic and cultural needs of their members. However, the majority of cooperatives in Africa are agro-based and financial in nature while aspects of social services are given a wide berth. In view of the challenges facing humanity globally courtesy of covid-19 pandemic,…
By Malachi Motano The Savings and credit cooperative societies (Sacco) sub-sector defied the economic challenges recorded in the troubled 2020 financial year to record a growth of 14 per cent in assets during quarter three compared to the same period previously. According to the Sacco Societies Regulatory Authority (Sasra) chairman John Munuve, the sector’s assets…
By Sammy Chivanga Savings and Credit Cooperative Societies (Saccos) are dragging their feet on diversifying their investment into new areas such as health and education as the high demand for loans among members put pressure on their wallets. While the desire to branch into areas such as health exists, not many members are ready to…
By Malachi Motano The employer based Saccos must now adopt alternative methods to generate income and remain afloat even during difficult economic times like the current Covid – 19 pandemic, 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…
By Malachi Motano The Kenya Union of Savings and Credit Co-operatives (Kuscco) group has urged saving and credit cooperative societies (Saccos) to safeguard their members’ data in line with the Data Protection Act, 2019. “The Saccos managements should practice data protection by design, by ensuring necessary systems, documents, procedures and policies are in place,” said…
By Malachi Motano Everyday comes with its new challenges and opportunities. in the corporate world, the smart ones always get greener pastures as companies aim higher. The Sacco sector is not left behind, Sacco Review brings to you the monthly update on who? moved to where? in the Kenya’s Sacco sector KETSA gets new chairman…
The Covid-19 pandemic and its disruptions have introduced a new way of life not only at the individual level but also in business operations. Virtually every sector of the economy has been affected. This has essentially changed human and consumer behaviour and has further led to a great shift in priorities and preferences that we…
