Saccos - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Government to implement decisive measures to curb Saccos’ financial mismanagement

Sacco ReviewFebruary 20, 202506 mins

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…

Embu moves to have all boda boda riders join saccos

Sacco ReviewFebruary 13, 202508 mins

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…

Saccos cautioned against paying unrealistic bonuses and interest

Sacco ReviewJanuary 7, 202504 mins

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…

Why Saccos should embrace a co-operative business model

Sacco ReviewJanuary 7, 202508 mins

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 County announces plans to upscale enrollment of SACCOs members to SHA

Sacco ReviewDecember 14, 2024December 14, 202403 mins

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…

ACCOSCA, ACDF convene 2nd International CEOs’ Credit Union Summit in Africa

Sacco ReviewNovember 13, 202403 mins

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…

Saccos should prioritize people over products in a changing financial landscape

Sacco ReviewNovember 12, 2024012 mins

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…

Beyond trust: Safeguarding your savings amid rising risks and governance gaps

Sacco ReviewNovember 4, 2024November 4, 2024012 mins

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…

7 Key principles for effective leadership in cooperative societies (saccos)

Sacco ReviewNovember 4, 202408 mins

As the business landscape goes through major transformations, those at the top of various business organizations, particularly Savings and Credit Co-operative Societies (Saccos) must be awake to the reality that leadership isn’t just about holding a title or occupying a corner office in an organization. In this case, they should learn to understand that, leadership…

Empower youth by developing products that resonate with them, Saccos told

Sacco ReviewOctober 14, 202404 mins

Saccos have been urged to develop youth-attractive products and services that include tailored saving plans, micro-loans for start ups, and financial literacy programmes aimed at empowering them to make informed financial decisions. Kiambu Deputy Governor Rosemary Kirika, speaking during Dimkes Sacco’s 25th anniversary at St Paul ACK Church grounds in Kiambu town, said young people…