Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Rift Valley KUSCCO Regional Manager Stephen Makori has called upon governors from Rift Valley region to fund small and upcoming Saccos and cooperative societies to ensure their sustainability. Speaking during the Ushirika Day celebrations, the manager noted that most of such Saccos do not have adequate funds for capacity building and leadership training hence they…
Elgeyo Marakwet County government has partnered with Hanse Agrostore International to boost potato farming in the region. Speaking during the Ushirika Day celebrations held at Iten grounds, County Executive Committee Member (CECM) for Cooperatives, Trade, Industrialization, Tourism and Wildlife Robert Kangogo thanked the investor for partnering with the county to catapult the potato sector. Kangogo…
Deputy President Rigathi Gachagua has called on Kenyans to embrace the saving culture so that the Govt can borrow funds from within instead of getting loans from outside. Speaking at Kinoru stadium in Meru town during Solution Sacco’s 30th-anniversary celebrations, the DP noted that the cooperative sector is a key pillar of driving economic growth…
County governments have resolved to aggregate Small and Medium Enterprises (SMEs) into viable cooperative societies in a bid to grow the country’s economy through the bottom-up model. This decision was agreed upon during the meeting held recently at a Mombasa hotel to discuss collaboration by county and national governments in strengthening the Cooperative sector as…
Farmers have been urged to join cooperative societies to increase their bargaining power and access to credit. Uasin Gishu County Chief Officer for Agriculture Elphas Kesio revealed that the county government is committed to solving the challenges facing farmers including low produce prices and limited access to credit. He called on farmers to diversify their…
Kenya Union of Savings and Credit Co-operative (KUSCCO) has asked defaulting government institutions to release billions worth of statutory deductions they owe Saccos in the country. KUSCCO Group Managing Director George Ototo said the non remittance by the two governments had created operational challenges for many Saccos. Ototo added that it was imperative that urgent…
That cooperatives are member-based, member-owned and member controlled enterprises is not in dispute. It is an established norm that cooperatives globally are guided by the seven universally accepted cooperative principles and driven by values that aim to professionalise management of their affairs for the benefit of members. Universal cooperative principle no. 2 is on “democratic…
Robert Mbati Cheminingwa, a teacher by profession, borrowed Ksh750,000 from the Stawisha Sacco in 2013 to purchase five acres of land in Endebess, Trans-Nzoia County. He then decided to venture into potato farming and that was the turning point of his life. Before this loan, he had earlier on borrowed Ksh500,000 from the same Sacco…
Peter Kariuki is the Chief Executive Officer for Sheria Sacco, one of the leading tier 1 Deposit-Taking Saccos in the country. He speaks elaborately on his vision for the Sacco in an interview with our reporter. He talks about the Sacco’s expansion plan, achievements and challenges among other pertinent issues. Here are excerpts from the…
Chief Executive Officers (CEOs) of various Saccos have revealed why they are averse to lending to Small and Medium Enterprises (SMEs), top among the reasons being their lack of verifiable information. During this year’s National Cooperatives CEO’s Workshop in Mombasa organized by the Co-operative Bank, the Sacco heads decried lack of adequate information about SMEs…
