PS Cooperatives Patrick Kilemi (left) awards APSTAR Sacco youngest saver. Looking on is the Sacco Chair National Chairman Dr Philip Cherono. Photo Obegi Malack

PS Cooperatives urges SACCOs to hire competent officials

Principal Secretary Department for Cooperatives Patrick Kiburi Kilemi has asked Sacco members to always hire competent officials to run the SACCOs. He said incompetent officials are not able to perform leading to poor performance of most firms. Speaking during APSTAR Sacco (former Ukulima Sacco) 46th ADM at Serena Hotels he said the board should also…

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Kenyan Cabinet Secretary in charge of Co-operatives and MSMEs Development Hon. Simon Chelugui, EGH (left) receives the 2024 SACCA Mantle from his Botswana Counterpart Hon. Karabo Socraat Gare. This signified Kenya will host 2024 event.

Kenya to host African cooperatives congress

Savings and Credit Cooperative Annual (SACCA) Congress will be held in Kenya later this year. Plans to host the 2024 SACCA Congress in the country have started in earnest with the constitution of a high-level working group. The Congress will go along the same lines as the previous Continental Congresses that made important contributions towards…

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Non-deposit-taking Saccos to start paying regulatory levy

The non-withdrawable depositing taking (NWDT) Savings and Credit Co-operatives (Saccos) shall now be required to pay annual regulatory fee to the country’s Sacco Regulator, the Sacco Society Regulatory Authority (SASRA) as they fully come under its purview. According to the November Legal Notice by Sasra the rate of the annual Sacco Societies Levy will be…

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Bungoma Governor Kenneth Lusaka. Photo: Courtesy

Co-operative Bill deferred after governors complain of being sidelined

The Co-operative Bill, 2023 has now been put on hold after county governors claimed that they were not consulted during the drafting. Sponsored by the government through the Ministry of Co-operatives and Micro, Small and Medium-sized Enterprises (MSMEs) Development, the Bill was in Parliament to allow for its first reading before proceeding to other stages…

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SASRA SACCO
SASRA CEO, Peter Njuguna.

SASRA warns public against trading with unauthorized Saccos

Sacco Society Regulatory Authority (Sasra) has warned the public against undertaking any related Savings and Credit Co-operative (Sacco) business with those entities that are not registered and regulated by the Authority. In a recent Public Caution issued by Chief Executive Officer (CEO) Peter Njuguna, the Authority has observed that a large section of members of…

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Kisumu City Manager Abala Wanga.

Matatu owners in Kisumu ordered to join Saccos

The Kisumu county government has ordered all public transport owners to register their vehicles with Savings and Credit Cooperative Organization (Saccos). The County Executive Committee Member (CECM) in charge of Infrastructure, Energy and Public Work Mr Salmon Orimba said it is a Government policy that all matatus must be registered with Saccos warning that vehicles…

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Wanabarabara Housing Cooperative Society members display recently received title deeds. Photo Courtesy.

Join Saccos to access affordable housing, Kenyans asked

Kenyans have been asked to join Savings and Credit Cooperatives Societies (Saccos) to easily own and invest in property. According to Engineer George Kiiru, the Chairman of Wanabarabara Housing Cooperative Society, buying property as a group is much easier and more affordable as compared to buying it individually. Addressing the press in Kisaju located in…

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Cynthia Wandia, Co-Founder and CEO of Kwara.

How Fintech is revolutionizing the Sacco movement in Kenya

According to a report submitted by Accenture to the Financial Sector Deepening (FSD) Kenya, Saccos are one of the leading sources of finance, and in many rural areas, local Saccos are the only provider of financial services. Fintechs are becoming invaluable partners for Saccos in Kenya who provide innovative digital solutions to streamline their operations…

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