High loan default rates hit Saccos

Defaulters to lose property in stringent loan recovery measures By Jackson Okoth Deposit-Taking Saccos have warned members of stringent loan recovery measures that include use of debt collectors and Credit Reference Bureaus to lock out loan defaulters from accessing Sacco products. The rate of non-performing loans has been on the rise in the Sacco sub-sector….

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New SASRA ranking places CoreTEC as the leader in digital technology for Saccos

By Our Reporter CoreTEC Systems & Solutions is the leading Mobile (Digital) Financial Service Application provider company in country’s Sacco sector. In a recent survey conducted by Sacco Societies Regulatory Authority (SASRA), the firm ranks at the top of the leading companies in provision of digital technology to Saccos. According to 2017 Sacco Supervision Annual…

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Coast best Saccos named

By Our Reporter Co-operative Alliance of Kenya (CAK) has named Imarisha and Bandari Saccos as the best in the Coast region. CAK Executive Director Daniel Marube said the Saccos had greatly contributed to socio-economic development of residents in the region. Imarisha Sacco which is based in Kilifi County has an asset base of Sh8.2 billion…

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State to shut 5,000 Saccos in crackdown

By Azael Masese The Government will soon dissolve more than 5,000 dormant co-operative societies as it seeks to tighten the loose ends in the otherwise vibrant sub-sector. Senior Deputy Commissioner in the State Department for Cooperatives Geoffrey Njang’ombe said that though there are more than 20,000 societies less than a half are active. “We want…

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Sh95m for women, youth

By Our Reporter Kilifi County Secretary, Bibi Fondo has said Sh95 million will be allocated to women, youth and people with disabilities through Saccos to improve their living standards. Speaking during the official closing ceremony of Imarika Sacco Special Delegates Meeting recently Fondo said that many people in the country have managed to accomplish their…

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