Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Cooperative Commissioner David Obonyo has called for a paradigm shift on how Saccos conduct their businesses, warning that relying on the check off system is no longer tenable. Most Saccos, Obonyo stated, were employee-based that depend on a check off at the end of the month to give loans, turning their back on millions in … Read more
Cooperatives and MSMEs Cabinet Secretary (CS) Simon Chelugui has said co-operatives have been an important socio-economic development tool since independence, and thus the need to channel all resources through the sector. “We want to reposition our country in all sectors through the cooperative model for meaningful growth, including in the realization of the bottom-up economic … Read more
The group lending model has increasingly become popular among Saccos and Micro-Finance Institutions (MFIs) in recent years. This is largely based on its ability to leverage on joint liability and increased loan repayments while promoting entrepreneurial spirit among borrowers. Group lending methodology is a unique financial service for low income entrepreneurs. To obtain such a … Read more
Cooperative movement stakeholders are expected to attend a three-day inaugural Cooperative Movement Stakeholders Annual conference scheduled to be held in Mombasa between June 13-15, 2023 to discuss the progress and achievements of the movement in Kenya. The conference, whose theme will be ‘Cooperative Business model for Socio-economic Transformation, will focus on how various sectors of … Read more
Cooperatives & Micro, Small and Medium Enterprises (MSMEs) Cabinet Secretary Simon Chelugui has urged banks to increase the amount of funds set aside for MSMEs from the current Ksh3 billion. Speaking during the closing ceremony of the one week pre-Madaraka day Cooperative and MSMEs expo held at the University of Embu, the CS said that … Read more
Over 70,000 farmers have benefited from loans worth Ksh 1 billlion since the inception of the Agricultural Finance Corporation’s (AFC) cheap credit scheme in 2018 that targets to benefit women on agri-finance in Kenya. The money was accessed through Saccos, microfinance institutions and Micro, Small and Medium Enterprises (MSMEs) with AFC projecting to reach out … Read more
