Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
ACK Nakuru Diocese members have lauded retiring Bishop Dr. Joseph Muchai for founding the ACK Imani Talent Sacco which has boosted their economic status by providing financial solutions. Speaking in his office, Sacco Manager Franklin Mwirigi said that Dr. Muchai’s desire was to ensure that all members from all churches in the Diocese benefit from…
Kenya Union of Savings and Credit Co-operatives (KUSCCO), the umbrella body for Savings and Credit Cooperatives (SACCOs) in Kenya, has maintained that it doesn’t engage in any illegal business and operates within the stipulated laws that govern its operations. In a letter dated October 12, 2023 sent to all Sacco Chairpersons and which was a…
The Council of Governors (CoG) has submitted the legislative memorandum on the National Assembly 2022 Sugar Bill to the Senate Standing Committee on Agriculture, Livestock and Fisheries chaired by Kirinyaga county Senator James Murango for consideration. The document was presented by Bungoma Governor Kenneth Lusaka in his capacity as the Chair of the Agriculture Committee….
The rush by Saccos to embrace mobile and internet banking as a replacement for the brick and mortar branches is proving to be a weak link in the fight against fraud in Saccos. A recently released SASRA report covering 2021 and 2022 shows that rogue Sacco staff are breaching internal systems and riding on mobile…
Kakamega county Deputy Governor Ayub Savula has disclosed that the county will put up a tea factory in Shinyalu in line with their campaign manifesto. Speaking in an open forum on Public Private Dialogue (PPD), the deputy governor said the tea factory will help improve the livelihoods of farmers in the region. PPD aims to…
Matungulu MP Stephen Mule has vowed to address the rampant cases of farmers societies’ land being grabbed. He lamented that illegal land transactions were rampant in the region and asked private developers to vacate land they had illegally taken over. Mule also warned the public not to be duped into buying public land which had been grabbed….
Pomp and color marked the launch of Hazina Sacco satellite office in Siaya town meant to cater for the fast-growing clientele in the area. Sacco National Chairman Mr Evans Kibagendi said the management opted to make the Siaya office a fully-fledged facility after realizing the potential the area has. He revealed that the branch members…
Kilifi county government has so far set aside Ksh750 million for Wezesha Fund to enable the business communities boost their activities. Speaking during a public meeting at Misufini village, Mariakani MCA Martha Koki said that Wezesha Fund is a revolving Fund which is repaid without any interest. “Wezesha Fund, formerly Mbegu Fund, is actually meant…
Tower Sacco recently held a Special General Meeting to review the Society’s performance in the past eight months and to present the budget for the next financial year. Sacco Chairman Peter Mainah Ngugi said the Sacco recorded increased membership to 216,382 by August 31, 2023 compared to 188,115 in the same period last year. During…
Intensive marketing and customer-friendly financial solutions have seen Saccos overtaking commercial banks in deposits and customer numbers. Experts have attributed this revolution to adherence to guidelines set by regulatory bodies, including the Central Bank of Kenya (CBK), attractive loan interest rates, quick processing of loans, and favourable returns through interest and end of year dividend…
