Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Ufundi Savings and Credit Co-operative Society Limited has announced the sale of it’s 14-storeyed building, Ufundi Co-op Plaza, at the junction of Moi Avenue and Moktar Daddah Street. In a local daily newspaper notice dated February 29, 2024, the Sacco has invited bidders for the iconic building Nairobi Central Business District that will be sold…
Insider lending is a process where a Savings and Credit Co-operative Society (Sacco) or a financial services institution advances loans to its officers or directors. However, in some developed countries, such as the United States, it is a requirement that such loans are charged at the same interest rate, repayment terms and credit evaluation criteria…
Ollin Sacco’s Chief Executive Officer (CEO) John Gathige has urged Kenyans to save in a Sacco in order to get better loans and avoid loan sharks who normally take advantage of their dire situation. Speaking during the Sacco’s 47th Annual General Meeting (AGM) which was held in Kutus Comprehensive Primary School grounds, Gathige stated that…
President William Ruto has announced that the loan limit for committed Kenyans patronizing the Hustler Fund scheme will be increased. Speaking during the first anniversary celebrations of the Fund, the President said that the limits will be adjusted based on the frequency of borrowing. “Those who have borrowed 10 times will see their limits increase…
Stima DT Sacco has reviewed the repayment periods of its loan products, allowing borrowers more time to adjust to the country’s economic situation without defaulting. “We are delighted to announce that Stima DT Sacco has reviewed its credit products. These changes will see an extension on the repayment terms of our credit facilities. We urge…
Sheria Sacco Society Ltd has introduced a new loan product christened ‘Dividend Advance Loan’. “We are thrilled to inform you about the introduction of our new financial product called the ‘Dividend Advance Loan’. This initiative is a testament to our dedication to offering convenient and easily accessible financial solutions,” read a memo signed by Director…
Gusii Mwalimu Sacco Society Limited has unveiled Karibu Loan, a product launched to cater to new members who need instant loans. Sacco’s CEO Jared Makori Moenga said that the move is aimed at bolstering the Sacco’s commitment to consistently design products that suit every individual need of each customer. He said that the main advantage of…
Kilifi county government has so far set aside Ksh750 million for Wezesha Fund to enable the business communities boost their activities. Speaking during a public meeting at Misufini village, Mariakani MCA Martha Koki said that Wezesha Fund is a revolving Fund which is repaid without any interest. “Wezesha Fund, formerly Mbegu Fund, is actually meant…
Intensive marketing and customer-friendly financial solutions have seen Saccos overtaking commercial banks in deposits and customer numbers. Experts have attributed this revolution to adherence to guidelines set by regulatory bodies, including the Central Bank of Kenya (CBK), attractive loan interest rates, quick processing of loans, and favourable returns through interest and end of year dividend…
Residents of Nyanza region have been urged to form Savings and Credit Cooperative Societies to help them grow and have sustainable development. ICT and Digital Economy Cabinet Secretary Eliud Owalo said a Sacco will provide means for residents to invest and grow economically. Speaking to members of various women groups in Migori County during an…
