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

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…

President Ruto champions cooperatives as key to economic growth in Africa

Sacco ReviewOctober 10, 202409 mins

President William Ruto has said Cooperative movement is a powerful engine for economic development of African Nations. Speaking during official opening of 24TH SACCA Congress held in Naivasha the President said the Cooperative movement empowers vulnerable citizens making them earn a livelihood and enables them to be economically stable. The president said 30 per cent…

Building Your Future: Why SACCOs Are Key to a Secure Retirement

Sacco ReviewOctober 8, 2024October 8, 2024010 mins

Saving for retirement is one of the most important financial decisions individuals need to make during their working lives. It is essential to ensure financial security and peace of mind in one’s later years. However, many people struggle with planning for retirement due to limited access to pension schemes, financial illiteracy, or inadequate income. Savings…

2024 SACCA Congress registration ends this Month

Sacco ReviewSeptember 19, 2024September 19, 202403 mins

All cooperators attending the 2024 Savings and Credit Cooperatives Associations (SACCA) Congress are now required to register by September 30, 2024. This was revealed during the 7th session of the 2024 SACCA Congress Working Group held on September 17, 2024 at the African Confederation of Co-operative Savings and Credit Associations (ACCOSCA) Academy in Nairobi Kenya…

Coast co-ops urged to register for forthcoming Sacco African Congress

Sacco ReviewSeptember 17, 2024September 17, 202402 mins

Cooperatives Development Senior Commissioner Churchill Amatha has urged Coast region cooperative to register in large numbers for the forthcoming 24th Savings and Credit Cooperatives Associations (SACCA) Congress. The congress which will take place from October 6 to 12 this year in Naivasha, Nakuru is jointly organized by the Kenya Union of Savings and Credit Cooperatives…

6.8 million members borrowed over Ksh700 billion in Saccos

Sacco ReviewSeptember 17, 202403 mins

The membership in the country’s Savings and Credit Co-operatives (SACCOs) has increased from 6.42 million in 2022 to 6.84 million in 2023, borrowing over Ksh700 billion within a span of one year. According to the recently released 2023 Annual Sacco Supervision Report by SASRA the increase in the 357-Regulated Saccos translated to 6.57 per cent…