Sacco Review|The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Saccos all over the world play a critical role in promoting financial inclusion through provision of financial services to members. However, membership size can have a direct impact on their long-term sustainability. This means that a Sacco with a large membership is more likely to be stable. There are a number of strategies in which…
While Savings and Credit Cooperative Societies (SACCOs) offer a myriad of benefits to members, they are also exposed to a lot of risks and with the progressive development in technology, regulatory demands and members’ needs, new risks are bound to keep cropping up. Types of risks There are several types of risks faced by SACCOs…
Over the years, Saccos have emerged as the new frontier of development in Kenya. With their flexible financial solutions, the institutions are transforming the lives of ordinary citizens by providing them with access to credit and savings facilities. As of 2021, there were over 15,000 registered Saccos in Kenya with a total membership of over…
A Sacco is a member-owned financial cooperative society whose purpose is to pool savings from members and use the funds to provide them with affordable credits. The process of acquiring loans has been simplified and digitized in many Saccos through mobile banking, a process that has made the loans easily accessible to members. Saccos offer…
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…
By Fred Sitati In the recent past, the cooperative movement has lost two flagship cooperative institutions to the state through expropriation. These cooperatives are Kenya Cooperative Creameries (KCC) and Kenya Planters Cooperative Union (KPCU). KCC was renamed New KCC while KPCU was rebranded to New KPCU Ltd. The new effect of this change is that…
