PS Kilemi urges co-operators to embrace collaboration

Principal Secretary (PS) in the Ministry of Co-operatives and Micro, Small, and Medium Enterprises (MSMEs) Development, Patrick Kiburi Kilemi, has emphasized the importance of cooperative policies in driving the economy. Speaking during a consultative meeting in Nairobi with co-operative developers today, PS Kilemi urged policy planners to collaborate and utilize their expertise for the benefit…

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SACCO

Why competitive staff hiring has become the norm in Saccos

As the world of business evolves and as companies look for ways to stay ahead of the curve, Savings and Credit Cooperatives (Saccos) are moving away from traditional formulae to competitive recruitment of staff. Majority of the regulated Saccos are now advertising vacant positions in national daily newspapers, while others hire employment agencies to advertise…

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Nakuru County to provide low interest loans to Saccos through Revolving Fund

Nakuru County Chief Officer of Cooperatives Kibet Kurgat has revealed that the county government has plans to provide low interest loans to registered cooperatives and Saccos through a revolving fund. Speaking during a meeting with stakeholders in the dairy sector, Kurgat revealed that all the necessary plans to launch the loan product at the beginning…

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Ranguma urges businesspeople to form Saccos for prosperity

Sacco Societies Regulatory Authority (SASRA) Chairperson Jack Ranguma has urged businesswomen in Kisumu County to form Saccos at the grassroot level. Addressing over 500 women groups in Kisumu, Ranguma stressed that through Saccos, women will gain economic empowerment. “Saccos will enable you to access loans and other benefits. You can also market your products locally…

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Waiguru launches 20 agriculture-based Saccos in Kirinyaga

The Governor of Kirinyaga County, Anne Waiguru, has launched 20 ward-based Farmers’ Saccos, which she said are key to unlocking the potential of smallholder farmers. The Saccos will provide members with affordable operational capital, credit services and information on markets and production practices. Waiguru said that the initiatives are aimed at strategically positioning farmers engaged…

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More Saccos dropping banking agencies, opt for mobile banking

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…

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Sacco growth

Chelugui lauds Saccos for exhibiting tremendous growth in past year

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…

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Saccos urged to fully digitize their services, embrace digital economy

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…

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