Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
A move by commercial banks to cut their lending rates after intense pressure from monetary authorities is attracting the attention of many financial services users. Do these latest cuts in the price of bank loans pose any threat to SACCOs, considered serious players in the lending business and Kenya’s financial sector? “This trend to lower…
Fishermen in Homa Bay have formed a Savings and Credit Cooperative Society (Sacco) to boost their income and promote sustainable fishing. This comes after President William Ruto, during the Blue Economy Summit at Tom Mboya University on May 31, gave the Homa Bay Beach Management Unit Sacco Ksh5 million to strengthen its financial base. During…
Kenya has officially launched the Sacco IT Professionals Association (SITPA), a new initiative aimed at strengthening the digital capabilities of Savings and Credit Cooperative Organizations (SACCOs). The launch took place on July 9, 2025, at the Mwalimu National DT SACCO Building in Nairobi. SITPA brings together IT professionals working in SACCOs across the country. Its goal…
The cooperative finance sector in Kenya is under growing scrutiny as fresh revelations expose extensive financial mismanagement and fraud across savings and credit cooperatives (SACCOs), with annual losses exceeding Ksh3 billion. According to the Sacco Societies Regulatory Authority (SASRA), these massive losses are attributed to poor governance, unremitted member contributions, liquidity challenges and a widespread…
Co-operatives and MSMEs Development CS Wycliffe Oparanya stood before SACCO leaders at Kenya Union of Savings and Credit Co-operatives (KUSCCO).on 23 June, 2025, and delivered an upbeat progress report on the sector clean-up launched after the KSh 13 billion KUSCCO scandal. He said investigative files have been handed over for prosecution and promised that “every…
A recent revelation that a dead auditor certified the financial statements and accounts of the now financially crippled Kenya Union of Savings and Credit Cooperative Society (KUSCCO) is raising questions on whether or not members of any Society should trust the opinion and audited accounts presented by these esteemed professionals. It also raises the lid…
Kajiado County Assembly staff and members of county assembly have registered a Sacco to empower themselves through credit, and investment opportunities. The Sacco dubbed Kajiado County Bunge Savings and Credit cooperative Society Limited received the registration certificate on 20th March 2025. Kajiado County Director of Cooperatives James Taiko commended the assembly for the move which…
The SACCO society’s regulatory authority (SASRA) has issued a stern warning to cooperatives that mismanage members’ funds, stating that their days are numbered. Jack Ranguma, the Chairman of the SACCO Societies Regulatory Authority (SASRA), particularly singled out Metropolitan National SACCO, noting that its members have lost millions of shillings. Ranguma revealed that the minister responsible…
The County Government of Busia has launched a major initiative to streamline the disbursement of agricultural funds by training SACCO managers in proper financial management and accountability. The initiative aims to ensure that government resources allocated to farmers are effectively utilized to promote economic growth. During the training session for 126 SACCO managers from 14…
The County Government of Kajiado, Department of Livestock, Agriculture, Fisheries, and Irrigation has trained Sacco leaders on the management of Saccos. The Sacco leaders, who represent three Kajiado West Saccos, were taken through leadership, governance, grant management guidelines, and the Memorandum of Understanding (MoU). The training was conducted at the NITA Institute in Kitengela Sub…
