Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
The rush by Saccos to embrace mobile and internet banking as a replacement for the brick and mortar branches is proving to be a weak link in the fight against fraud in Saccos. A recently released SASRA report covering 2021 and 2022 shows that rogue Sacco staff are breaching internal systems and riding on mobile…
In recent years, Kenya’s Savings and Credit Cooperatives (Saccos) have undergone a revolutionary transformation, thanks to the advent of internet banking. This technological leap has not only modernized financial services but has also brought about a myriad of benefits for Saccos. Traditionally, Sacco members had to navigate long queues within limited operating hours to access…
One major hindrance to efficient service delivery among Saccos in Kenya is delayed remittances from some employers. Unfortunately, delayed remittances happen despite the fact that under Section 35 of the Cooperative Societies Act, Cap 490, there are clear legal provisions intended to ensure recovery of delayed remittances upon expiry of seven (7) days of the…
Ebusia Unity Sacco Ltd held elections for the Board of Management during the inaugural AGM held at Busia Agricultural Training Centre. Former Member of County Assembly for Namboboto/Nambuku Ward Hon Vincent Olumbe was elected chairman as Ashley Oundo, Nick Ajuma and Liz Wafula were elected vice chairperson, Secretary and treasurer respectively. Other board members elected were…
Stakeholders in the cooperative movement have decided that the Co-operative Movement Stakeholders’ Conference will now be an annual event, which will be held every year in the month of June. This was agreed during the first conference held at Sarova Whitesands Beach Resort in Mombasa themed ‘Co-operative Business Model for Socio-Economic Transformation’. Itattracted more than…
Avocado farmers in Kakamega county have launched a cooperative society to guide them on the best farming practices of the produce and in preparation for the county government rollout of a World Bank project aimed at promoting avocado farming in the county. Speaking during their first AGM, Mumbo Avocado Farmers’ Cooperative Society Chairman Maxwell Shamala…
Kilifi County Cooperative Development department has registered 45 new cooperative societies. Speaking to Sacco Review in Kilifi town recently, County Cooperative Assistant Director James Mwasi revealed that 20 of the registered cooperatives are community Saccos, 14 are mining Saccos while 4 are boda boda Saccos. He revealed that plans are already underway to revive the giant…
The county government of Kericho has pledged to assist young coffee farmers with technical advice and logistics in value chain to ensure prosperity. Representing county governor Dr. Erick Mutai during the launch of the sale outlet for coffee products produced by the Kipkelion Youth Service Cooperative LTD at Uhuru Gardens in Kericho, chief officer for…
Kaloleni Sub-County Cooperative Officer Evans Malombo has revealed that the 32 registered cooperative societies in the area have disbursed loans amounting to Ksh175,420,309. He noted that the cooperatives have mobilized a turnover of Ksh41,424,998 and share capital of Ksh19,387,684. “Sadly, only 18 cooperatives are active,” he lamented, noting further that membership currently stands at 2,158….
Garissa County Director of Cooperatives Samuel Karanja has urged Saccos to rebrand and recruit more members as a move to increase their savings and cement their loan base. Speaking to Sacco Review newspaper in his Garissa office , Karanja noted that rebranding would enable the recruitment of members beyond Saccos’ geographical territories thus move towards…
