Saccos – Page 11 – Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

KUSCCO seeks review of Tax Act for more equitable tax treatment for Saccos

Sacco ReviewMay 29, 202505 mins

Kenya Union of Savings & Credit Cooperatives (KUSCCO) has proposed amendments to Section 19A of the Income Tax Act to create a more equitable and neutral tax framework for all cooperative societies in Kenya, regardless of their form The current Income Tax Act (ITA) in Kenya presents a differential treatment between cooperative societies that is…

SACCOs urged to adopt new technology to compete effectively with banks

Sacco ReviewMay 23, 202502 mins

Savings and Credit Cooperative Organizations (SACCOs) have been challenged to adopt new technology to penetrate in the current business market. Speaking during leaders’ meeting and launch of Ushirika activities Cooperative Bank of Kenya vice chairman Macloud Malonza said saccos should also intensify investments in product development to endure the current market competition. Malonza said Saccos…

SACCOs are preferred choice for affordable and accessible loans, KNBS survey indicates

Sacco ReviewMay 23, 202503 mins

Savings and Credit Cooperative Organizations in Kenya are emerging as a preferred choice for affordable and accessible loans as demand for housing in the country. According to the 2025 Economic Survey by The Kenya National Bureau of Statistics (KNBS), 31.8% of real estate firms partnered with SACCOs for financing arrangements in 2023, highlighting the growing…

Senators evaluate ongoing agricultural initiatives in Bungoma County

Sacco ReviewMay 13, 202503 mins

Senators have conducted an oversight visit to Bungoma County to evaluate ongoing agricultural initiatives and engage with local stakeholders on sectorial challenges. The senators under the Senate Standing Committee on Agriculture, Livestock and Fisheries, chaired by Senator David Wafula Wakoli of Bungoma County first paid a courtesy call to the County Governor Kenneth Lusaka who…

Call for Innovation in cooperative sector as three day annual conference ends

Sacco ReviewMay 10, 202506 mins

The 20th Annual National Cooperatives Workshop for Chief Executive Officers (CEOs) concluded on Thursday, May 8, with a strong call to embrace change and spearhead transformation within the cooperatives sector. Held at the Sarova Whitesands Beach Resort in Mombasa County, the three-day event brought together cooperative leaders from across the country to discuss challenges, opportunities,…

SACCOs go big on digital platforms to attract the youth

Sacco ReviewMarch 12, 2025March 12, 2025010 mins

Savings and Credit Cooperative Societies (SACCOs) have, in the recent past, stepped up their digital marketing campaigns, running attractive TV advertisements, updating their websites to make them more interactive, and going big on X, Facebook, and other social media platforms. SACCOs are also investing huge sums of cash to spruce up their online presence. This…

35 Saccos in Busia receive Ksh. 24.5M cooperative grant

Sacco ReviewMarch 8, 202503 mins

In a major boost to financial inclusion and agricultural transformation, the County Government of Busia has disbursed a Ksh. 24.5 million cooperative inclusion grant to 35 Savings and Credit Cooperative Organizations (SACCOs). The grant aims to enhance production and value addition, empowering farmers and agripreneurs across the county. As part of this initiative, the government…

Government to implement decisive measures to curb Saccos’ financial mismanagement

Sacco ReviewFebruary 20, 202506 mins

Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises Development, Wycliffe Oparanya, has assured that the national government is taking decisive steps to curb financial mismanagement in Saccos across Kenya. His remarks follow the alleged misappropriation of KSh 82.8 million at the Kenya Union of Savings and Credit Cooperatives (KUSCCO), raising concerns over financial…

Embu moves to have all boda boda riders join saccos

Sacco ReviewFebruary 13, 202508 mins

The County government of Embu has launched campaigns to bring more than 8ooo boda boda riders under Savings and Credit Cooperative Societies (SACCOs) in a bid ensure soberness, decency and profitable financial management in the industry. In one of the most elaborate ever collaborations between the riders and the devolved government, Embu Governor Cecily Njagi…

Saccos cautioned against paying unrealistic bonuses and interest

Sacco ReviewJanuary 7, 202504 mins

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…