Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
Garissa County Cooperative Director Samuel Karanja has urged residents to start forming groups like chamas or Saccos to exploit the services brought about by the launch of Garissa Industrial and Aggregation Park. He noted that the park will bring together more businesses that will provide services complementing one another and attract new investment areas and…
Deputy President Rigathi Gachagua has revealed that coffee farmers will sell their produce directly to Starbucks, eliminating intermediaries. The DP said that the government is currently in discussions with Starbucks Corporation, the world’s largest coffee chain based in the United States, regarding a groundbreaking deal. “The collaboration is expected to revolutionize the coffee industry in…
The financial landscape in Kenya is characterized by a diverse array of institutions like banks, insurance companies and Saccos that cater to the financial needs of individuals and businesses. At the heart of the effective functioning of these organizations lies the crucial element of professional management. This article explores the unique characteristics of banks, insurance…
The growth of Saccos in Kenya has shown how important they are in providing affordable financial services and enabling easier access to savings and credit for members. Saccos have therefore impacted the economic growth experienced in Kenyan communicates. More often than not, we place a lot of emphasis on the achievements of the Sacco but…
