Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
The primary purpose of a Sacco is to serve the community in which it operates. This is based on the understanding that co-operatives are not-for-profit enterprises, as the majority of the profit goes toward fulfilling the social, economic, and cultural needs of the community in which they operate. It is obvious that when a co-operative…
The County Government of Nakuru has rolled out a program to digitize the business models of Savings and Credit Cooperative Organizations (SACCOs) to make their operations more efficient and transparent. County Cooperatives Chief Officer Kibet Kurgat said the County had initiated a training program for Sacco officials on the digitization of their operations, aimed at…
Savings and Credit Cooperative Organizations (SACCOs) have long been heralded as engines of financial empowerment, particularly in underserved and emerging markets. They provide a lifeline for millions by offering affordable credit, encouraging savings, and promoting economic inclusion. Yet, like any other financial or corporate institution, SACCOs are not immune to the inherent cycles of growth,…
Former employees of Kenya Cooperative Creameries (KCC) have sought the Senate Committee on Labour and Social Welfare to secure their KES 204 million in unpaid dues. The committee has summoned National Treasury Cabinet Secretary John Mbadi who did not appear before the committee but sent a notice asserting that the Government is under no obligation…
Umoja Wendani Housing Co-operative emerged the top player in the recent Ushirika Day Awards Gala, taking first position in the Best Managed Housing Cooperative, Most Improved, and Best in Investments categories of recognitions. The society, established in 2012 to cater for the housing needs of Umoja Wendani Sacco members, was also second in Best in…
IG (Invest & Grow) Sacco Society LTD is counting losses after robbers broke into their offices in Malava in Kakamega County making away valuables. The robbers had accessed the cash room where millions were stored and moved the safe box out with the intent of running away with it but failed due to its weight….
As the country eagerly awaits the enactment of new cooperative laws to regulate the sector, under the devolved system of government, the Pan-African Parliament (PAP) has coincidentally developed a Model Law that seeks to harmonize all cooperative legislations across the entire continent. This Model Law was adopted by the Pan-African Parliament during the 3rd Session…
