Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
By Roy HezronVihiga County Government has committed to support Savings and Credit Co-operatives (Saccos) throughestablishment of a revolving fund.Speaking during a stakeholders meeting to discuss the performance of the Vihiga County Traders Saccoin December 2022, the County Governor Dr. Wilber Ottichilo hinted that the Sacco, which mainly drawsits membership from micro and small traders, would…
By Staff Reporter The Sacco Societies Regulatory Authority (SASRA) withdrew the licenses of four deposit-taking Saccos by close of December 2021. Effectively, the four are barred from conducting deposit-taking business in 2022. Affected Saccos are Nyamira Tea Sacco Society Ltd, Uchongaji Sacco Society Ltd, Nanyuki Equator Sacco Society Ltd and Comoco Sacco Society Ltd. SASRA…
By Obegi Malack obegimalack@gmail.com The Permanent Secretary for State Department of Cooperative Ali Noor Ismail has commended cooperatives for their contribution in the government agenda of affordable housing. The PS who was speaking during Ukulima DT Sacco’s 50th anniversary in a Nairobi Hotel said the Saccos provides 80% of housing needs in the country…
By Wasike Elvis Kesses Member of Parliament Dr. Swarup Mishra has called on boda boda operators to join Saccos for them to be empowered financially. Speaking after meeting boda boda operators from Chepkigen, Mogobich, Lengut, Mogochoret and Chemenei villages, Dr Mishra said the move will help them save and get loans which they can use…
Only 22.9 per cent of women hold CEO position By Jackson Okoth Women are yet to break the glass ceiling in terms of ascending to top leadership in co-operative societies. Industry findings indicate that men still dominate boardrooms, management suites and internal audit positions within most of these societies. This gender disparity has remained intact…
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….
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…
By Our Reporter Surestep Sytems and Solutions Ltd has been rated highly among the leading ICT service providers in the Sacco sector. In a new Sacco Societies Regulatory Authority (SASRA) annual supervisory report, the company is one of the 12 credible service providers serving a high number of savings and credit co-operatives in the country….
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…
By Patrick Odenyo Savings and Credit Co-operative Organizations (Saccos) are warning that the proposed changes in laws governing the sector are likely to stifle growth and put members’ savings at risk. According to Co-operative Alliance of Kenya (CAK) Executive Director Daniel Marube, the proposals contained in the Sacco Societies (Amendment) Bill 2018 will open room…
