Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Technological advancement is fast-shaping operations and performance in the Sacco and wider financial and banking sector, lessening inconveniences and the high cost of opening and running physical branches. A spot check by Sacco Review has established that more Saccos prefer mobile banking to agency banking due to convenience for members and more profit to the…
Simon Chelugui, the Cooperatives and MSMEs Development Cabinet Secretary (CS), has released a report which indicates a steady growth in the Sacco industry for the past one year. Chelugui said that all the 360 Saccos regulated by the Sacco Societies Regulatory Authority (SASRA) have seen tremendous growth in assets, deposits, loans, and capital from November…
Nakuru County Chief Cooperative Officer Kibet Kurgat has urged Sacco officials to market their products and services more aggressively and initiate campaigns to create awareness in order to increase membership. The Officer said that new members will join the Saccos only if they understand the benefits in store for them. Kurgat, who was speaking at…
The world of finance is evolving at an unprecedented pace, with customers demanding efficiency, convenience and faster financial services. This is a wake-up call to SACCOs to digitize their services to allow customers to access their accounts and perform a wide range of transactions so as to avoid losing market share to tech-savvy competitors. “Digital…
The concept of Savings and Credit Cooperative Societies (SACCOs), which have today become an essential part of Kenya’s financial landscape in promoting financial inclusion and empowering communities by providing access to affordable financial services, has a rich history traced to the colonial era. SACCOs started with the formation of agricultural cooperatives aimed at providing financial…
While Savings and Credit Cooperative Societies (SACCOs) offer a myriad of benefits to members, they are also exposed to a lot of risks and with the progressive development in technology, regulatory demands and members’ needs, new risks are bound to keep cropping up. Types of risks There are several types of risks faced by SACCOs…
The County Government of Kisumu and other regional governments from thirteen countries have signed a Memorandum of Understanding for the creation of an Economic Forum for African Regions. The forum, championed by the Regional Council of Rabat Sale Kenitra, is formed as a framework for partnership and exchange of experiences capable of promoting development. The…
Information and ICT Cabinet Secretary Eliud Owalo has revealed that the national government has rolled out a major economic blueprint revolving around infrastructure, agriculture, trade and other forms of investments for Nyanza region to spur development. Speaking in Kisumu, the CS noted that youth and women who are engaged in business should form societies which…
Invest and Grow (IG) Sacco has donated photocopier machines and printing papers to Friends Malava Primary School. The school’s Deputy Head teacher Esther Wayela Lucheli narrated how it has been tedious and expensive to carry out printing services from the nearby cyber cafes. BoM team represented by Lawson Makola appreciated the gesture and promised to…
16 groups within Kisumu Central constituency have received Ksh2.3 million from Uwezo Fund to boost their activities. Out of the group, 13 have been refinanced while 3 are new ones. Credit and loans officer Laban Mwangi noted that most groups repay their loans on time and urged them to continue doing so to enable others…
