Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
When a monumental financial scandal rocked the Kenya Union of Savings and Credit Co-operatives (Kuscco), perhaps the hardest hit by the financial losses were Small-Tiered Regulated SACCOs that had looked upon Kuscco as the proverbial hen’s wing under which the small chicks could hide. Most of the small Saccos had put up at least Ksh22…
The Kenya Union of Savings and Credit Cooperatives (Kuscco) has launched a massive recovery drive targeting Ksh1.7 billion worth of defaulted housing loans from 684 borrowers, in a renewed push to clean up its books and restore confidence in the cooperative sector. The auctions, scheduled for November 6, 14, and 28, will see houses and…
Kenya Union of Savings and Credit Cooperatives, (KUSCCO) has announces various strategic measures to support its financial stability, strengthen cash flow and improve operational efficiency. According to the circular dated September 22, signed by the Group Managing Director Arnold Munene, and directed to all KUSCCO member SACCOs chairpersons, the union outlined various strategies which include:…
Afya Co-operative Savings and Credit Society Limited has convened a Virtual Delegates Meeting on September 22, 2025, as pressure mounts over a KSh550 million scandal that has rocked the country’s 60 year-old Sacco. The meeting notice, signed by Honorary Secretary A. Maweu, outlines a tense agenda that includes adopting financial statements, approving the 2026 budget,…
The government has barred all Savings and Credit Cooperative Societies (SACCOs) in Kenya from investing in non-core business activities until proper regulations and supervisory frameworks are in place. This decision comes amid rising concerns over financial mismanagement and instability within the SACCO sector, which has seen some cooperatives plunge into financial turmoil due to unregulated…
National Assembly Speaker Moses Wetang’ula has issued a strong call to farmers to weed out corrupt officials from cooperative societies, warning that graft within agricultural SACCOs is fast eroding the backbone of the farming sector. Speaking on Sunday, July 27, at St. Peter’s Catholic Church in Sirisia Constituency, Bungoma County, Wetang’ula criticized the rampant mismanagement…
The Kenya Union of Savings and Credit Co-operatives (KUSCCO) is set to auction properties to recover Ksh1.36 billion in unpaid loans from SACCOs that secured funding against deposits worth Ksh368 million leaving a massive shortfall of nearly Ksh988 million. KUSCCO has since issued demand letters requiring defaulting SACCOs to submit payment or a formal repayment…
The 2025 World Credit Union Conference (WCUC) kicked off on Monday, July 14, in Stockholm, Sweden and will run through Wednesday, 16 July 2025. Organized by the World Council of Credit Unions (WOCCU), this year’s conference — themed “The Future is Cooperative” — brings together global cooperative leaders to share insights, shape policy, and strengthen…
Kenya Union of Savings and Credit Co-operatives (Kuscco) will hold Savings and Credit Cooperatives (SACCOs) SACCO Societies Act Review Workshop from 29h July to 1st August 2025. In a statement, KUSCCO indicated that the workshop will be held in Naivasha town, Nakuru County will be attended by Saccos Chief Executive Officers, committee of experts and…
In the midst of a growing leadership struggle within the Kenya Union of Savings and Credit Cooperatives (KUSCCO), former directors who were recently ousted from office are protesting the decision and the official removal order. The former directors who are now directors and executives in various SACCOs were removed from the KUSCCO office after the…
