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

Public varsities, colleges owe highest non-remitted funds to SACCOs

Sacco ReviewSeptember 13, 2024September 13, 202403 mins

Public universities and tertiary colleges owed the largest proportion of non-remitted funds for SACCOs in 2023, a report by Sacco Societies Regulatory Authority (SASRA) has revealed. According to the Sacco Supervision Annual Report 2023 released this week, the institutions owed Ksh958.07 million which translates to 37 per cent of the total non-remitted funds. Subsequently, county…

Saccos Urged to Innovate New Products to Boost Active Membership

Sacco ReviewSeptember 12, 2024September 12, 202402 mins

The Sacco Societies Regulatory Authority (SASRA) has urged Saccos to develop new savings and credit products tailored to the changing needs of members, a move that will greatly reducing dormant accounts. SASRA, in a report released on Wednesday, noted that reactivation of dormant accounts should be the top priority for Saccos that seek to boost…

State calls for responsible corporate governance in Saccos

Sacco ReviewAugust 27, 2024August 27, 202403 mins

The Government has called for responsible corporate governance in Saccos and accountability by leaders found culpable of financial irregularities. Principal Secretary for the State Department of Cooperatives Patrick Kilemi was speaking during the Nairobi SACCO Leaders’ Consultative Forum held by the Kenya Union of Savings and Credit Co-operatives Ltd (KUSCCO), where he noted that the…

Adhere to bylaws to boost service delivery, Saccos told

Sacco ReviewAugust 27, 2024August 27, 202403 mins

Nakuru County Deputy Director of Cooperatives George Ogallo has urged Saccos and cooperative societies to strictly adhere to rules and bylaws to ensure efficient service delivery to members. He made the remarks while addressing delegates during ACK Imani Talent Sacco Annual General Meeting (AGM) recently. The Director observed that Annual General Meetings are essential to…

Saccos urged to embrace tech to lure youth membership

Sacco ReviewAugust 23, 2024August 23, 202403 mins

The Kenya Union of Savings & Credit Co-operatives Ltd (KUSCCO) Group Managing Director Arnold Munene has urged Saccos to take advantage of enhanced technology to boost their membership. Munene, in a commentary in one of the dailies, said that by doing so they will tap into the youth demographic which forms a majority of the…

Embrace good governance for survival, Saccos leaders told

Sacco ReviewAugust 19, 2024August 20, 202403 mins

Savings and Credit Cooperative (Saccos) will survive hard times when leaders embrace good governance and transparent leadership. According to CIC General Manager, Cooperatives, Richard Nyakenogo, societies that are run in a transparent and accountable manner survive hard economic times and later prosper. Speaking in Kericho during this year’s Ushirika Day celebrations, he told Saccos leadership…

Fired Cooperatives CS Chelugui speaks out

Sacco ReviewJuly 12, 202403 mins

Cooperatives and MSME Development Cabinet Secretary Simon Chelugui has issued statement moments after being sacked. In a statement shared on X, Chelugui thanked President William Ruto for entrusting and giving him an opportunity to serve the people of Kenya under his administration. While quoting bible, Chelugui thanked Ruto and Kenyans and promised to support Ruto…

Muguka farmers in Embu told to join Saccos to boost income

Sacco ReviewApril 23, 2024April 23, 202405 mins

Muguka farmers in Embu County have been challenged to join existing Saccos to reap better incomes and enhance expanded marketing of the produce locally and regionally. Consolidation of the millions of shillings earned from Muguka sector daily under cooperatives would ensure that incomes from the business are not wasted but used to improve farming and…

How Saccos can increase their membership size

Sacco ReviewApril 22, 2024April 22, 202404 mins

There are various Saccos in the country and best strategies are needed to make a Sacco increase its membership size. Below are some of the marketing strategies. 1). Have a good website Since the internet is everywhere, website is very vital new and prospective members have access easily. Good website will boost membership. 2). Offer…

PS urges miners to form cooperative societies

Sacco ReviewApril 19, 2024April 19, 202405 mins

The Government has launched campaign to mobilise persons who undertake Artisanal and Small-Scale Mining (ASM) and Large-Scale Mining (LSM), to form Saccos aimed at ensuring earnings from the economically potential sector are prudently utilised. Formation of the Saccos, the Government hopes will ensure that miners especially artisanal and small-scale save portion of their income and…