Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
When Rebecca Kendi retired from her job as a County Revenue Officer at one of the country’s largest devolved units two years ago, she had no clue what she would do in her retirement. Since the mid-1980s when she left college and got the job at the then local authority, her life had been a…
The Central Bank of Kenya (CBK) has ordered banks and Savings And Credit Cooperative Organisations (SACCOs) to comply with new guidelines on cyber security that mandate stricter protection for financial systems in order to protect themselves against cyber insecurities. To support this, the CBK has established the Banking Sector Cybersecurity Operations Centre (BS-SOC), a hub…
The Kenya Teachers’ Sacco Association (KETSA) has called the integration of Artificial Intelligence, (AI) into Sacco operations to strengthen digital governance and simplifies services. Speaking during the sixth annual CEO workshop in Mombasa, the forum’s Chair Joyce Ndegwa highlighted the urgency of adapting to technological shifts, strengthening Sacco member services, and innovative collaboration within the…
The Sacco Societies Regulatory Authority (SASRA) released a new Model Complaints Handling Policy for regulated Saccos to strengthen the complaints management framework within the sector, ensuring alignment with best practices and regulatory requirements. According to SASRA the policy will provide a standardized and adaptable approach for Saccos to address member complaints effectively, transparently, and fairly….
Bungoma County leaders have urged coffee farmers to embrace cooperatives and savings and credit societies (SACCOs) as a pathway to higher earnings and a stronger coffee sector. Addressing growers at Lukusi Farmers’ Cooperative Society in Mihuu Ward, Webuye East, County Executive Committee Member (CECM) for Agriculture, Eng. Herbert Kibunguchi, said organized farming groups are better…
Savings and Credit Cooperative Organizations (SACCOs) have been advised to adopt sustainable reporting as part of efforts to strengthen climate risk management, improve transparency, and enhance customer confidence. Speaking during the opening of one week forum on audit, governance, and risk management for cooperatives at Voi yesterday, the Cooperative Alliance of Kenya (CAK) Chief Executive…
Principal Secretary State Department for Internal Security and National Administration Raymond Omollo has urged bodaboda operators to join associations in order to benefit from empowerment projects. The PS, who was speaking in Ongata Rongai, Kajiado North, during the Kazi ni Kazi Boda Boda Empowerment Programme, said the operators should put their investments in cooperative societies….
Ms. Ndegwa, in an interview with SACCO Review, said that the use of credit scoring as an assessment tool when considering whether to give a loan product to a SACCO member is already happening, particularly where SACCOs are offering mobile loans. “Members apply for mobile loans on online platforms using the mobile app and the…
The Meru County Government has introduced a new structured approach to seasonal parking revenue collection. The bid is aimed at enhancing revenue collection and strengthening its partnership with the transport sector. The innovative strategy, which targets matatu and taxi operators, is focused to improve compliance, accountability, and efficiency in revenue collection. In a consultative meeting…
Financial planning is a critical aspect of achieving long-term financial success for any serious individual, more particularly members of Savings and Credit Co-operatives (Saccos). However, even the best-intentioned plans can go astray if you make mistakes along the way. Here are some common mistakes that Sacco members should always learn to avoid in their financial…
