Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
The operationalization of the Kenya Sacco Central Liquidity and Shared Services Cooperative Society Ltd (The Sacco Central) is set to change Kenya’s Sacco sub-sector’s landscape as it will help address liquidity challenges, especially for small Saccos. Under the outfit, Saccos are expected to pool resources under one platform and access a host of services at…
Kenya National Police DT SACCO Board Chair David Mategwa has expressed the Sacco’s commitment to work with any struggling Sacco. Kenya National Police DT SACCO is among the wealthiest and the most vibrant Sacco in the country. Mategwa said the SACCO is willing to take over the struggling Saccos’ liabilities and assets to enable the…
Before I get to the core of this story, let me tell you about the amusing anecdote about a strange ‘doctor’ in the village where I grew up. I describe him so because some of the shenanigans he exhibited border on the absurd, if not criminal. You see Disco Matanga, for that was his name,…
Savings and Credit Cooperatives Societies (Saccos) have been urged to change the criteria they use to measure their contribution to the country’s economic and social wellbeing. Sacco Societies Regulatory Authority (SASRA) CEO Peter Njuguna noted that the annual performance based on growth of asset base, deposits, share capital and surplus is never enough. Njuguna underscored…
Rose Wambua, a former banker at Cooperative Bank of Kenya, has urged upon the government to partner with the private sector to create jobs and fight poverty. Addressing women groups at Kawethei village in Kangundo constituency, Wambua said the private sector plays an important role in the growth of the economy and that job creation…
Wakenya Pamoja Sacco has taken a new growth trajectory with the launch of Wakenya MCash, which is part of its elaborate plans to rebrand as a way of fostering service delivery and improving business performance. The new product will allow members to transact remotely without having to travel to their branches, bringing convenience and comfort…
To ward off unscrupulous cartels that have permeated avocado industry and made themselves a bargaining chip, farmers from Kericho county have formed a cooperative society. Kericho Avocado Farmers Cooperative Society was presented to the registrar of companies last year by the farmers as an umbrella body to collectively market their produce and enhance productions for…
One basic characteristic that distinguishes companies from cooperatives is that companies are associations of capital while cooperatives are associations of persons. Additionally, while companies strive to maximize profits for their shareholders, the same cannot be said of primary cooperatives that are voluntary self-help organizations that aim to solve members’ socio-economic and cultural needs. At the…
Sacco Societies Regulatory Authority (SASRA) CEO Peter Njuguna has stressed on the need for Saccos to collaborate to achieve greatness. “We have realized that Saccos actually collaborate significantly with various service providers because Saccos alone cannot provide the services. Courtesy of the collaborations we have had so far, you will note that we have grown…
Competition for payment of super dividends and interest on deposits among Saccos has topped the list of the major issues affecting the pace of growth of the cooperative movement in the country. The Kenya Society of Professional Co-operators (KSPC) has raised concern over the current trend of offering super dividends and interest on members’ deposits…
