Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Savings and Credit Cooperative Societies (SACCOs) have, in the recent past, stepped up their digital marketing campaigns, running attractive TV advertisements, updating their websites to make them more interactive, and going big on X, Facebook, and other social media platforms. SACCOs are also investing huge sums of cash to spruce up their online presence. This…
In a major boost to financial inclusion and agricultural transformation, the County Government of Busia has disbursed a Ksh. 24.5 million cooperative inclusion grant to 35 Savings and Credit Cooperative Organizations (SACCOs). The grant aims to enhance production and value addition, empowering farmers and agripreneurs across the county. As part of this initiative, the government…
Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises Development, Wycliffe Oparanya, has assured that the national government is taking decisive steps to curb financial mismanagement in Saccos across Kenya. His remarks follow the alleged misappropriation of KSh 82.8 million at the Kenya Union of Savings and Credit Cooperatives (KUSCCO), raising concerns over financial…
The County government of Embu has launched campaigns to bring more than 8ooo boda boda riders under Savings and Credit Cooperative Societies (SACCOs) in a bid ensure soberness, decency and profitable financial management in the industry. In one of the most elaborate ever collaborations between the riders and the devolved government, Embu Governor Cecily Njagi…
The Ministry of Cooperatives and Micro, Small, and Medium Enterprises (MSME) Development has cautioned SACCOs against paying unrealistic bonuses, dividends, and interest, as such cash outflows could cause liquidity challenges if not properly managed. Through a circular sent to SACCOs by the State Department of Cooperatives, the Office of Commissioner David Obonyo stated that the…
The primary purpose of a Sacco is to serve the community in which it operates. This is based on the understanding that co-operatives are not-for-profit enterprises, as the majority of the profit goes toward fulfilling the social, economic, and cultural needs of the community in which they operate. It is obvious that when a co-operative…
Nairobi City County Government has announced plans to upscale enrollment of members of Cooperatives and Savings and Credit Cooperative Organizations (SACCOS) in to the Social Health Authority (SHA) program. This strategic move is designed to boost health coverage for the city’s informal sector, which plays a pivotal role in Kenya’s economy. During a capacity building…
African Confederation of Cooperative Savings and Credit Associations (ACCOSCA) in close collaboration with the Africa Co-operative Development Foundation (ACDF) held 2nd International CEOs’ Credit Union Summit in Africa. The selected global Cooperative business leaders convened in Zimbabwe, Botswana, and Zambia to unpack strategies to foster the growth and development of SACCOs in Africa. The leaders…
In recent years, Savings and Credit Cooperative Organizations (Saccos) have become increasingly vital to the financial wellbeing of many Kenyans. They have allowed individuals, families, and small businesses to access credit, grow their savings, and benefit from cooperative economic models that prioritize mutual success over pure profit. However, as Saccos continue to evolve and introduce…
In Kenya, Savings and Credit Cooperative Societies (Saccos) have long been pillars of financial stability and community support. They offer accessible loans, promote a saving culture, and provide an alternative to traditional banking for millions. Saccos are deeply trusted institutions, often regarded as safe havens for personal savings and a dependable source for credit during…
