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

I will resign if you ignore my proposals, Oparanya tells Govt

Sacco ReviewAugust 12, 2024August 15, 202402 mins

New Co-operative and MSMEs Cabinet Secretary (CS) Wycliffe Oparanya has warned of his resignation from the Kenya Kwanza administration if his recommendations are not implemented. Speaking at Mariakani Church of God in South B on Sunday, August 11, 2024, Oparanya emphasized that his appointment by President Ruto was based on his extensive experience and track…

Kenyan innovations star at EAC MSMEs Trade Fair

Sacco ReviewFebruary 22, 2024February 22, 202407 mins

Kenya scooped the second position for the most innovative products during the recently concluded 23rd East Africa Community Micro, Small and Medium-sized Enterprises (MSMEs) Trade Fair formerly known as the Jua Kali-Nguvu Kazi Exhibition after the United Republic of Tanzania clinched first position in the exhibitions held in Bujumbura, Burundi. The Trade Fair whose theme…

Co-operative Bill deferred after governors complain of being sidelined

Sacco ReviewFebruary 22, 2024February 22, 202407 mins

The Co-operative Bill, 2023 has now been put on hold after county governors claimed that they were not consulted during the drafting. Sponsored by the government through the Ministry of Co-operatives and Micro, Small and Medium-sized Enterprises (MSMEs) Development, the Bill was in Parliament to allow for its first reading before proceeding to other stages…

Kericho Biashara Sacco celebrates first anniversary

Sacco ReviewDecember 4, 2023December 4, 202302 mins

Kericho Biashara Sacco Society Limited recently celebrated its first year of existence with pride following the significant growth achieved in the highly competitive field. The Sacco draws its membership from smallholder traders of MSMEs within the region and offers financial and business training, savings mobilization, and loans to member groups. According to Josephat Koech, the…

Stanbic Bank, County partner to train VTC instructors on digital skills

Sacco ReviewDecember 2, 2023December 2, 202305 mins

Stanbic Bank has partnered with the County government of Taita Taveta to provide a one-week digital skills training to Vocational Training instructors, and Micro, Small and Medium Enterprises (MSMEs) entrepreneurs on the use of online platforms to grow their businesses. Speaking at Mwanjila Vocational Training Center (VTC) in Bura on Friday after receiving 10 desktop…

Govt is committed to supporting growth of Co-ops, PS Kilemi says

Sacco ReviewNovember 16, 2023November 16, 202302 mins

The Principal Secretary (PS) for State Department of Cooperatives, Patrick Kilemi, has reiterated the government’s pledge to support the cooperative sector by implementing dynamic policies and regulatory frameworks. Kilemi made the remarks on November 15 in Mombasa during a workshop which brought together cooperative sector shareholders from across the country to brainstorm on how to…

PS Hinga: Housing Fund will offer affordable housing to millions

Sacco ReviewSeptember 28, 2023September 29, 202303 mins

Principal Secretary (PS) of Housing and Urban Development Charles Hinga has defended the housing levy, arguing that it aims to provide housing to millions of people who lack the means to build, purchase or secure a mortgage for their own homes. The PS said in Nairobi, one of Africa’s most developed cities, 90 percent of…

Diversify from check-offs to MSME markets, Saccos challenged

Sacco ReviewSeptember 6, 2023September 6, 202305 mins

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…

Chelugui: Gov’t to channel all resources via Co-operatives

Sacco ReviewSeptember 1, 2023September 1, 202307 mins

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…

How Saccos maintain a delicate balance in the group lending model

Sacco ReviewAugust 16, 2023August 16, 202305 mins

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…