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