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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…

Govt to aid Saccos to access more funding, Oparanya says

Sacco ReviewSeptember 13, 2024September 13, 202404 mins

The Cabinet Secretary (CS) for Cooperatives and MSMEs development Wycliffe Oparanya has revealed that the government is keen to help Saccos access capital by exploring avenues for increased funding and investment in the sector. Speaking during the 7th Annual Delegates’ Conference for Stima DT Sacco Society Ltd on Thursday, Oparanya urged sector stakeholders to work…

Kitui county, Saccos partner to boost production, food security

Sacco ReviewSeptember 13, 2024September 13, 202403 mins

Kitui county has signed a Memorandum of Understanding (MoU) with agriculture-based Saccos and community development committees to boost production and promote food security. Speaking during the event’s launch at the Kitui Agricultural Training Centre, the county’s Chief Officer for Agriculture and Fisheries, Gladys Kivoto, said that the signing marks a significant milestone in efforts to…

Public varsities, colleges owe highest non-remitted funds to SACCOs

Sacco ReviewSeptember 13, 2024September 13, 202403 mins

Public universities and tertiary colleges owed the largest proportion of non-remitted funds for SACCOs in 2023, a report by Sacco Societies Regulatory Authority (SASRA) has revealed. According to the Sacco Supervision Annual Report 2023 released this week, the institutions owed Ksh958.07 million which translates to 37 per cent of the total non-remitted funds. Subsequently, county…

Saccos Urged to Innovate New Products to Boost Active Membership

Sacco ReviewSeptember 12, 2024September 12, 202402 mins

The Sacco Societies Regulatory Authority (SASRA) has urged Saccos to develop new savings and credit products tailored to the changing needs of members, a move that will greatly reducing dormant accounts. SASRA, in a report released on Wednesday, noted that reactivation of dormant accounts should be the top priority for Saccos that seek to boost…

State calls for responsible corporate governance in Saccos

Sacco ReviewAugust 27, 2024August 27, 202403 mins

The Government has called for responsible corporate governance in Saccos and accountability by leaders found culpable of financial irregularities. Principal Secretary for the State Department of Cooperatives Patrick Kilemi was speaking during the Nairobi SACCO Leaders’ Consultative Forum held by the Kenya Union of Savings and Credit Co-operatives Ltd (KUSCCO), where he noted that the…

Adhere to bylaws to boost service delivery, Saccos told

Sacco ReviewAugust 27, 2024August 27, 202403 mins

Nakuru County Deputy Director of Cooperatives George Ogallo has urged Saccos and cooperative societies to strictly adhere to rules and bylaws to ensure efficient service delivery to members. He made the remarks while addressing delegates during ACK Imani Talent Sacco Annual General Meeting (AGM) recently. The Director observed that Annual General Meetings are essential to…

Saccos urged to embrace tech to lure youth membership

Sacco ReviewAugust 23, 2024August 23, 202403 mins

The Kenya Union of Savings & Credit Co-operatives Ltd (KUSCCO) Group Managing Director Arnold Munene has urged Saccos to take advantage of enhanced technology to boost their membership. Munene, in a commentary in one of the dailies, said that by doing so they will tap into the youth demographic which forms a majority of the…