Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Cooperatives today have become very important drivers of personal financial growth and the route to members’ economic empowerment. Since the first cooperative society was formed in Kenya and its subsequent success, both the private and public sectors embraced them as vehicles to financial breakthrough. Cooperatives must adopt the best policies, bylaws and strategies because good…
Kenya Union of Sugar Plantation and Allied Workers (KUSPAW) has demanded the clearance of outstanding salary arrears before any further reforms or changes are made in the sugar sub-sector. During the National Assembly joint committee meeting on Finance, National Planning & Agriculture co- chaired by Dr. John Mutunga and Kuria Kimani, the workers said the…
Embu Governor Cecily Mbarire has promised to fight cartels in the coffee sub-sector as a move to ensure farmers get the right and good income from their produce. Addressing the press at Runyenjes town in Embu County, the governor pointed out that better prices for coffee produce will lead to improved livelihood for farmers. The…
Saccos and Cooperative Societies have been urged to adopt swift models of repayment of the Cooperative Enterprise Development Fund (CEDF) loans. Speaking during the scrutinizing and approval of CEDF loan application documents, Cooperatives and Enterprise Development Chief Officer Ruth Samoei maintained that it’s vital for the societies to put the fund into good use since…
The SASRA Sacco Supervision Report has revealed that the total amount of financial investments of regulated Saccos decreased from Ksh50.30 billion in 2021 to Ksh49.95 billion in 2022. The drop in the proportion of financial investments to total assets was as a result of a significant drop in the financial investments of the deposit taking…
The Sacco Supervision Annual Report 2022 has revealed that Sacco membership grew by 7.02 per cent to hit 6.42 million. For the year ending 2022, membership in deposit taking Saccos stood at a staggering 5.96 million, representing an increase of 7.34 per cent. For non withdrawable deposit taking Saccos, membership increased by 3.14 per cent…
The recently released data by SASRA has revealed that most Saccos adopted the use of ICT in offering financial services to their members. The data revealed that the technological channels used include Sacco agencies, ATMs or mobile money transfer. According to SASRA, the new norm is replacing the clamour for brick and-mortar physical branches which…
Mrs. Agnes Kadzo Unda, a member of Imarika Sacco, can attest to the benefits of being a member of a Sacco. Unda joined the Sacco in 1982 after completing her P1 Teacher Training Course at Kagumo Teachers Training College. Speaking to Sacco Review in her residence in Ganda village in Malindi Sub County recently, Unda…
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…
Kenya Union of Savings and Credit Cooperatives (KUSCCO) Advocacy Manager Mercy Njeru has urged the government to allow only the official regulator to audit Saccos in the country for improved efficiency, transparency and confidence among cooperative societies. Njeru said currently there are many state agencies competing to audit Saccos, raising suspicion among Saccos to the…
