loans - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Sacco Loan Book Grows Fastest in Four Years on Covid-19 Hardships

Sacco ReviewSeptember 15, 2021September 15, 202107 mins

By Sammy Chivanga Savings and Credit Cooperative Organizations (Saccos) members tapped Sh54.19 billion additional loans last year on the back of coronavirus disruptions that hurt incomes for households. The new credit saw the loan book of Deposit-Taking (DT) Saccos rise by 13.41 percent to Sh473.74 billion from Sh419.55 billion, being the fastest jump in four…

Sacco targets CEDF, Co-op Bank loans to invest in real estate

Sacco ReviewSeptember 5, 201802 mins

By Godfrey Wamalwa Matayos Reality Savings and Credit Co-operative Society is targeting loans from County Enterprise Development Fund (CEDF) and Co-operative Bank to invest in real estates. Addressing the press recently, the Sacco organizing secretary Duncan Kubasu said their short term plans are to build houses and later sell them to members as loans. He…

Seek cheap loans from giant Saccos, small co-ops advised

Sacco ReviewSeptember 5, 201803 mins

By Erick Nyayiera Small co-operatives operating in Nyanza and Western region have been urged to consider exploiting loaning facilities from the giant Sacco organisations to maximise productivity. Western regional Chairman Ushuru Sacco Owuor Awuor regretted that most Saccos in the western and Nyanza region have suffered exploitation from the commercial banks who charge huge interests…

Governor urges young farmers to join Co-ops

Sacco ReviewApril 30, 201802 mins

By Munene Maina Farmers at Kesses sub-county,Uasin Gishu County, have been advised to join co-operatives for easy access to loans to pursue their dreams. The county governor Jackson Mandago said societies will enable youth to engage in productive activities that will provide them with income and revenue to the county. The County Agriculture Executive Samuel…

Soaring debt puts Ndege Chai Sacco members on toes

Sacco ReviewApril 30, 201802 mins

By Benedict Ng’etich The General Manager in charge of Operations at James Finlays, Kipchumba Bullut has said the company which is the biggest stakeholder at Ndege Chai Sacco was greatly concerned with the high level of indebtedness by some members. He called on them to borrow loans which they were comfortable with and could be…

Maktaba Sacco members to clear loans or risk blacklisting

Sacco ReviewApril 27, 201802 mins

By Staff Reporter Maktaba Sacco members have been given a notice to clear any outstanding loans they owe the society or risk being registered with the Credit Reference Bureau (CRB). The society indicated that to enhance their loan recovery mechanisms, it had registered with CRB to report those who do not conform to the regulations….

Teachers told to join saccos

Sacco ReviewApril 27, 201801 mins

By Achola Mathews Teachers have been urged to embrace the saving culture and join saccos so that they are able to reap big profits from loans and profitable projects. Knut executive secretary Teso branch Deogratius Owaya called on teachers to start saving and investing in projects that will help them in future. Owaya said the…

Kenya Police Sacco maintains steady growth

Sacco ReviewApril 26, 201803 mins

By Staff Reporter Kenya Police Sacco Society’s financial performance continued to grow on a positive trajectory. According to the Sacco’s Financial Statement for the year ended December 31st 2017, overall asset base grew by 21 per cent, rising to Sh24.2 billion compared to Sh20 billion that was recorded in 2016. Member deposits grew to about…

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Saccos to receive revolving funds from Govt

Sacco ReviewMarch 22, 201801 mins

By Our Reporter In a move aimed at ensuring residents have access to cheap loans, the County Government of Nyandarua says it is in the process of setting up co-operatives revolving fund. According to trade and cooperative executive Muthoni Wamuya, 130 saccos will form a union called Nyandarua Co-operative Union, to manage the funds and…

Families advised to go for saccos as loans are insured

Sacco ReviewMarch 22, 2018March 22, 201802 mins

By James Wakahiu Urithi Housing Co-operative Society Limited Director of Marketing Kevin Muthuri has asked Kenyans to secure insured loans and invest wisely. This means during tough times, they will have an insurance cover to take care outstanding loan amount effectively reducing the burden on their families in case of any unfortunate event that occurs….