Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Herman Mwashighadi Mwachia can truly attest to how Saccos are beneficial to its members. Mwachia, who is a member of Qwetu Sacco, says that the Sacco changed his life for the better. The retired primary school teacher acquired a loan of Ksh2.5 million from Qwetu Sacco which he used to build a modern permanent house…
Youth in Malindi sub county, Kilifi county have been urged to take advantage of Uwezo Fund to boost their businesses. Speaking to Sacco Review, Malindi sub county Youth Development Officer Mtana Mwahunga urged the youth to form groups to enable them to access the Fund to expand their businesses. “The Fund will help address the issue…
After being skeptical for a while about being part of a Sacco, Dennis Fondo finally decided to join Tabasuri Sacco. Fondo, a security guard with the Texas Security Company for about fifteen years now, says he wished he had joined Tabasuri Sacco way back when he first began working. He attributes the tremendous milestones he…
A loan of Ksh6 million from Imarika Sacco Limited turned around the life of a retired Kenya National Union of Teachers (KNUT) official Mwalimu Rasi, who is now living off the benefits accrued from the investments he made. Several consistent loans and repayments built his creditworthiness to a point he could borrow a huge sum,…
Ely Otieno joined Keystone Sacco, formerly Kisumu Teachers Savings and Credit Co-operative Society (KITE), over 20 years ago. He has never regretted joining the Sacco but has instead been counting blessings as a member of the organization. Otieno says he joined the Sacco in 1996 after starting off the teaching profession as a young visionary…
Elgeyo Marakwet County government has partnered with Hanse Agrostore International to boost potato farming in the region. Speaking during the Ushirika Day celebrations held at Iten grounds, County Executive Committee Member (CECM) for Cooperatives, Trade, Industrialization, Tourism and Wildlife Robert Kangogo thanked the investor for partnering with the county to catapult the potato sector. Kangogo…
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…
Robert Mbati Cheminingwa, a teacher by profession, borrowed Ksh750,000 from the Stawisha Sacco in 2013 to purchase five acres of land in Endebess, Trans-Nzoia County. He then decided to venture into potato farming and that was the turning point of his life. Before this loan, he had earlier on borrowed Ksh500,000 from the same Sacco…
Chief Executive Officers (CEOs) of various Saccos have revealed why they are averse to lending to Small and Medium Enterprises (SMEs), top among the reasons being their lack of verifiable information. During this year’s National Cooperatives CEO’s Workshop in Mombasa organized by the Co-operative Bank, the Sacco heads decried lack of adequate information about SMEs…
As the country’s hard economic times bite, boda boda riders, farmers and traders from the Western region have been asked to join Saccos and invest in the future to cushion themselves against the current cash crunch.Speaking to journalists in Busia town, Faridi Sacco chairman Godfrey Saidi said many boda boda riders are facing a lot…
