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

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…

Sacco re-branding is a great idea if properly planned

Sacco ReviewApril 18, 202404 mins

A number of Saccos have rebranded to breathe a new life into their existence. The hope is that with a change they will be able to capture the imagination of members, both existing and prospective, in a way that will bring positive energy and reinvigorate the many lattices that may have been rendered ineffective by…

When all said and done, Saccos have to make profits

Sacco ReviewApril 16, 202409 mins

Over time, Saccos are increasingly popular as a means of accessing financial services in the country. They are member-based entities which run on the principle of bringing resources together before providing affordable credit. Like other financial institutions that include microfinance, commercial banks and mobile lenders, they work day and night towards maximizing profit. Saccos have…

PS Cooperatives urges SACCOs to hire competent officials

Sacco ReviewMarch 21, 2024March 23, 202402 mins

Principal Secretary Department for Cooperatives Patrick Kiburi Kilemi has asked Sacco members to always hire competent officials to run the SACCOs. He said incompetent officials are not able to perform leading to poor performance of most firms. Speaking during APSTAR Sacco (former Ukulima Sacco) 46th ADM at Serena Hotels he said the board should also…

Kenya to host African cooperatives congress

Sacco ReviewMarch 4, 2024March 5, 202403 mins

Savings and Credit Cooperative Annual (SACCA) Congress will be held in Kenya later this year. Plans to host the 2024 SACCA Congress in the country have started in earnest with the constitution of a high-level working group. The Congress will go along the same lines as the previous Continental Congresses that made important contributions towards…

Smiles for savers as Saccos pay high dividends

Sacco ReviewMarch 2, 202403 mins

Top Saccos in the country are paying members at least four per cent more in dividends for their 2023 savings compared to a year earlier. Most cooperatives attributed the performance to muscular growth in its net interest income, enhanced member deposits and increased membership. Safaricom Investment Corporative (SIC) members will take home KSh142.4 million in…