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

MP Buyu proposes microfinance bill to cap interest rates

Sacco ReviewAugust 14, 202605 mins

Rozaah Buyu proposes a bill to protect borrowers from predatory microfinance lending. The bill seeks to cap interest rates and curb unfair debt recovery practices. Non-compliant lenders could face penalties or licence revocation. Kisumu West MP Rozaah Buyu has written to the Speaker of the National Assembly proposing a bill that would tighten protections for…

Microfinance Bill seeks tougher oversight and consumer rights in Kenya’s lending sector

Sacco ReviewJune 1, 202604 mins

The microfinance industry is poised for its most sweeping regulatory overhaul in two decades, with a new Microfinance Bill before the National Assembly proposing tighter oversight, stronger consumer protections and expanded powers for the Central Bank of Kenya (CBK). Legislators say the reforms are necessary to modernise rules governing microfinance banks, which serve millions of…

Detectives arrest University drop out for allegedly hacking microfinance siphoning Ksh11Million

Sacco ReviewFebruary 12, 2026February 14, 202603 mins

Detectives from the Banking Fraud Investigation Unit (BFIU) have arrested and arraigned former Meru University student Seth Mwabe Okwanyo for allegedly orchestrating a fraudulent scheme that siphoned off Ksh11.4Million from a leading microfinance institution. The 26-year-old self-trained cybersecurity engineer arrest follows a formal complaint lodged by the Microfinance institution, detailing a shocking incident that occurred…

Business stakeholders call for stringent measures to curb predatory digital lenders

Sacco ReviewNovember 29, 202405 mins

Business stakeholders led by former legislator Lewis Nguyai have called on parliament to come up with stringent measures to cushion Kenyans who access loans from predatory digital lenders. Speaking when he appeared before the Departmental Committee on Finance and National Planning to make his submissions on the Business Laws (Amendment) Bill, 2024 the former MP…

Coop sector deserves Govt support, Kilifi DG says

Sacco ReviewSeptember 6, 2023September 6, 202305 mins

Kilifi County Deputy Governor Flora Mbetsa Chibule has stressed the need to support cooperatives as key enablers of Kenya’s improved social and economic growth. Cooperatives, she said, cut across all the sectors of the economy, namely agriculture, mining, housing, transport, and manufacturing. In addition, they are known worldwide as instruments of poverty eradication and wealth…

Tea farmers receive Ksh10 B loans from Greenland Fedha Limited

Sacco ReviewAugust 23, 2023August 23, 202302 mins

Greenland Fedha Limited, a subsidiary of Kenya Tea Development Agency (KTDA), has issued loans worth Ksh10 billion this year compared to the Ksh5 billion it disbursed to small scale tea farmers the year before. The high amount issued follows the company’s move to deep slash the interest rates in December 2021. Greenland Fedha Limited Chairman…