Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Do you have an elaborate flow of information in your Sacco? And to what extent do your members access the necessary information about their Sacco. In the 21st century people want to be informed about everything about their savings, credit performance, investment and any other thing that affect their lives. It would be prudent to…
In discharging their mandate in line with the fifth co-operatives principle as published by the International Co-operative Alliance, co-operative institutions all over the world take the initiative of providing education and training for their members, elected representatives, managers and employees to enhance their capacity to effectively contribute to the development of their co-operative organizations. That…
Metropolitan Savings and Credit Cooperative Society (SACCO), has been once again hit hard after the Cooperatives Tribunal awards 36 refund claims sought by members seeking to withdraw membership. According to the Tribunal registry the claims were awarded between February and July this years and they are running into millions. In one such case filed against…
Cooperative Societies in Kwale County have been urged to adopt Information Communication Technology (ICT) in a bid to enhance efficiency in service delivery to members. Speaking to Sacco Review from Kwale town recently, Kwale County Cooperative director, Mohammed Mkanga revealed that the trend is the fastest way of serving members in the Cooperative movement. He…
Commissioner for Co-operative Development David Obonyo has challenged Savings and Credit Cooperative Organizations (Saccos) members to focus on getting affordable loans from their Saccos rather than high dividends. Speaking during the recently concluded Hazina DT Sacco Annual Delegates Meetings (ADMs) in Nairobi, he asked members to have long term investments through the Saccos, since co-operative…
ACK Imani Talent Sacco has embarked on a rigorous member recruitment drive to boost its capital base. Every Sunday, the church-based Sacco, which was ranked the third best Sacco in Nakuru County during this year’s Ushirika Day celebrations, sends its marketers for member recruitment campaigns in various ACK churches within Nakuru diocese. Recently, the Sacco’s…
The growth of Saccos in Kenya has shown how important they are in providing affordable financial services and enabling easier access to savings and credit for members. Saccos have therefore impacted the economic growth experienced in Kenyan communicates. More often than not, we place a lot of emphasis on the achievements of the Sacco but…
The Sacco Supervision Annual Report 2022 has revealed that Sacco membership grew by 7.02 per cent to hit 6.42 million. For the year ending 2022, membership in deposit taking Saccos stood at a staggering 5.96 million, representing an increase of 7.34 per cent. For non withdrawable deposit taking Saccos, membership increased by 3.14 per cent…
By Patrick Odenyo Savings and Credit Co-operative Organizations (Saccos) are warning that the proposed changes in laws governing the sector are likely to stifle growth and put members’ savings at risk. According to Co-operative Alliance of Kenya (CAK) Executive Director Daniel Marube, the proposals contained in the Sacco Societies (Amendment) Bill 2018 will open room…
By James Wakahiu Urithi Housing Co-operative Limited will construct 5,000 housing units this year for its members. Urithi Marketing Director Kevin Manjau Muthuri said the initiative will ensure their members get decent and affordable houses and stop living in rental houses. Muthuri said his society will be complementing the Jubilee’ agenda of providing decent and…
