Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Garissa County Cooperative Chief Samuel Karanja has lamented over the fact that none of the 79 Saccos in the county is headed by a woman. He blamed male chauvinism in the region, adding that the residents do not vouch for women’s leadership despite them proving to be eloquent in leadership in many other areas. Karanja…
Cooperative sector practitioners have expressed concerns over the manner in which Saccos and cooperatives are declaring dividends and interest on deposits, as well as honoraria payments. Through Kenya Society of Professional Co-operators (KSPC), the practitioners observed that there are a lot of malpractices among cooperatives in the way dividends, interest on deposits and honoraria are…
Co-operatives and Micro, Small and Medium Enterprises Cabinet Secretary Simon Chelugui has explained how groups and chamas can apply for the second phase of the Hustler Fund loan. The Group Micro Enterprise Loan products allow members to apply for loans ranging between Ksh20, 000 to Ksh1 million based on the average credit score of each…
Saccos have emerged as a vital force in Kenya, making a significant positive impact on communities. With their roots in the cooperative movement, Saccos have evolved into inclusive financial institutions that cater for diverse sectors, including agriculture and technology. Beyond financial services, Saccos also contribute to women empowerment and sustainable development. In a country where…
The group lending model has increasingly become popular among Saccos and Micro-Finance Institutions (MFIs) in recent years. This is largely based on its ability to leverage on joint liability and increased loan repayments while promoting entrepreneurial spirit among borrowers. Group lending methodology is a unique financial service for low income entrepreneurs. To obtain such a…
Sacco Societies Regulatory Authority (SASRA) has issued new guidelines on complaints management by cooperatives. According to the new guidelines, Saccos have only 21 days to investigate and solve members’ complaints. The days will be split into two; 14 working days for carrying out investigations into complaints and an additional seven days to communicate to members…
Lake Region Economic Bloc (LREB) Chief Executive Officer Victor Nyagaya has revealed that the bloc has decided to form a Sacco to sustain its economic model. Nyagaya said the bloc has already done the legal paperwork for registration and that they plan to start with a Sacco then gradually build it into a regional bank….
The government is negotiating with banking institutions to streamline their lending packages to accommodate small and medium enterprises, which are thought to be the pillar to the country’s future economy. Cooperatives Cabinet Secretary Simon Chelugui said the government was consulting with banks to restructure and be more attractive to the small and medium enterprises. Chelugui…
The International Day of Cooperatives Day is always a special occasion to celebrate the remarkable impact of cooperative enterprise and pay tribute to those that have changed countless lives and created shared prosperity in communities. And with Kenya boasting the largest movement in Africa, the eventful day, which Savings and Credit Co-operative Societies (Saccos) look…
The Co-operative movement in the country’s Western region can only register development if county governments put proper measures in place to support Saccos in their jurisdictions, seasoned co-operative expert Owuor Awuor has said. Owuor, who is a long time regional leader of the giant Ushuru Sacco, observed that most co-operative societies in the region are…
