Saccos – Page 10 – Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

SACCOs need strong IT systems, Insurance covers amid cyber-attacks rise

Sacco ReviewJuly 15, 202509 mins

Savings and Credit Cooperative Societies (SACCOs) are being challenged to tighten their systems and take insurance covers on the back of rising cyber-attacks in the era of digital transactions. Cooperatives are increasingly gaining prominence among formal and informal workers and currently hold over Sh800 billion customer deposit—a sum that makes them a target of cyber…

How SACCOs can be profitable amid digital disruption

Sacco ReviewJuly 10, 202507 mins

In recent times, rumors have swirled around how some Savings and Credit Cooperatives (Saccos) have been hit by a run, and while it might be true that some Saccos might have issues, it is not true that these financial institutions as a vehicle for lending and saving are on trial. True, like a savings instrument,…

SACCOs defy digital trend, expand physical branches across Kenya

Sacco ReviewJuly 9, 202508 mins

Despite rapid advancements in digital banking, Kenya’s Savings and Credit Cooperative Societies (SACCOs) continue to prioritize opening brick-and-mortar branches—especially in rural areas where a significant number of their members, such as peasant farmers, reside. Annual reports for the year ending December 31, 2024 and outlooks for 2025 reveal that several dynamic deposit-taking SACCOs plan to…

SASRA decries SACCOs slow adoption of credit scores in loan appraisals

Sacco ReviewJuly 4, 2025July 4, 202509 mins

The Sacco Societies Regulatory Authority (SASRA) has expressed concern that, despite the immense value of credit scoring, SACCOs have been slow to fully adopt credit referencing, resulting in gaps in credit decision-making. The regulator also highlights challenges in implementing effective credit-scoring systems, which have hindered responsible lending and undermined long-term financial stability. However, some senior…

SACCOs still remains development haven to many despite Bank’s efforts to harmonize loan policies

Sacco ReviewJuly 3, 202509 mins

A move by commercial banks to cut their lending rates after intense pressure from monetary authorities, is attracting the attention of many financial services users. Do these latest cuts in the price of bank loans pose any threat to SACCOs, considered a serious player in the lending business and Kenya’s financial sector? “This trend to lower…

Why Coops uptake in Affordable Housing program remains low

Sacco ReviewJuly 3, 202506 mins

Housing Co-operatives, SACCOs as well as Investment units of these Societies appear to have given the state-run affordable housing program a wide berth. A spot check of various players in the Housing Cooperatives Segment reveals lack of interest in the program by most while others cite numerous bottlenecks. Savings and credit co-operatives (SACCOs) Top Executives…

Key resolutions during 2025 Africa SACCO meeting in Addis

Sacco ReviewJuly 2, 202504 mins

SACCOs have been urged to embrace prudential regulatory frameworks by working closely with African Confederation of Cooperative Savings and Credit Associations (ACCOSCA) and Policymakers to strengthen SACCOs Regulation for financial stability and also unlock their full potential as engines of inclusive economic transformation in Africa. This was arrived at during the official close of the…

Oparanya directs large SACCOs to embrace delegate representation within six months

Sacco ReviewJune 19, 202505 mins

All Savings and Credit Cooperative Organizations (SACCOs) with membership exceeding 10,000 have been directed to implement a delegate system of representation within six months. The directive forms part of broader set suggestions intended to regulate the sector. The Ministry of Cooperatives and MSMEs Development, under the leadership of Cabinet Secretary Wycliffe Oparanya, observed that SACCOs…

SACCOs urged to develop strong strategic plan to keep them afloat in business

Sacco ReviewJune 16, 2025June 17, 202504 mins

Kisii County Trade, Tourism, and Marketing Executive Committee Member (ECM) Cyrus Nyabicha has urged the societies to develop strong strategic plans that will guide their operations and keep them afloat in the competitive business environment. Nyabicha spoke at Kisii Agricultural Training Center (KATC) during the commissioning of the Gusii Youth Bunge Savings and Credit Cooperative…

Unpacking the Cooperative Bill 2024: A new era for Kenya’s Cooperative sector

Sacco ReviewMay 29, 2025011 mins

As Kenya strides into a transformative phase of its economic landscape, the Cooperative Bill 2024 has emerged as a pivotal piece of legislation poised to reshape the country’s cooperative sector. The law before the Senate comes amid a backdrop of economic challenges and calls for reform. This bill promises to modernize governance, enhance accountability, and…