Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Kiliifi based Imarika Sacco recorded a net profit of KSh323.8 million for the year ending December 31, 2023. A year earlier it posted a net profit of KSh397 million. Total assets for the Sacco rose from KSh13 billion as compared to KSh11 billion in 2022. READ ALSO: Imarika Sacco gets a new chairman In itd…
Insider lending is a process where a Savings and Credit Co-operative Society (Sacco) or a financial services institution advances loans to its officers or directors. However, in some developed countries, such as the United States, it is a requirement that such loans are charged at the same interest rate, repayment terms and credit evaluation criteria…
The Market Day Traders Savings and Cooperative Society has become the youngest to hold an Annual General Meeting (AGM) this year. The fast growing Sacco which is barely one-year-old has surprised players in the cooperative industry due to its fast paced growth in the fast changing trends within the sub sector. According to the Chairman…
Commissioner for Co-operative Development David Obonyo has challenged Savings and Credit Cooperative Organizations (Saccos) members to focus on getting affordable loans from their Saccos rather than high dividends. Speaking during the recently concluded Hazina DT Sacco Annual Delegates Meetings (ADMs) in Nairobi, he asked members to have long term investments through the Saccos, since co-operative…
Savings and Credit Cooperative Societies (Sacco) external Annual Audits are a standard practice undertaken by all Saccos in Kenya whether Deposit Taking or Non-Deposit Taking. This routine has gone on for a long time but in most cases, External Audit has not yielded the necessary and much anticipated benefits to various Saccos. Good external audit…
The Kenya National Police DT SACCO Bungoma zone finally has new officials after the branch held elections recently after several postponements. In the elections held at Bungoma Police Station with 383 members, Antony Kering garnered 103 votes, closely followed by Zebedee Otee with 102 votes while Victor Kiprotich got 76 votes and Mary Odhiambo garnered…
Artisanal miners from Rosterman area have a reason to smile after Kakamega Central Miners Sacco was launched recently. The development is in line with the directive by the State Department for Mining that all artisanal mining activities be carried out through Saccos only. County Artisanal Mining Committee (AMC) Chairperson Chairperson Patrick Ligami said that the…
The number of female employees in regulated Saccos in the country has been steadily rising, surpassing that of male employees, SASRA’s Sacco Supervision Report 2022 has revealed. According to the Report, female employees in regulated Saccos account for 50.61% of the total employees with males accounting for 49.39%. It also reveals that within the DT-SACCOs…
Senior officials from the Government of Ghana, including representatives from the Ghana Co-operative Credit Unions Association (CUA), Ministry of Finance, and the Department of Cooperatives, are currently in Kenya to benchmark the country’s cooperative movement which is considered the largest in Africa. According to the 2022 Statistical Report by the World Council of Credit Unions,…
The Kenya National Police DT Sacco has been awarded as the winner in this year’s FiRe Awards – Sacco category. The award comes months after the Sacco was recognized as the top-performing Sacco nationwide in the Management and Capitalization category during the Ushirika Day celebrations held on July 1 at the KICC. In a statement…
