Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
A recent report by SASRA has revealed that Sacco accounts holding more than Ksh1 million stood at 92,000 by the end of 2022. This is a 29.6 per cent rise from about 71,000 accounts reported in 2021. The 92,000 accounts, an equivalent of 0.63 per cent of all the 14.52 million accounts, held Ksh163.3 billion…
Deputy Vice Chancellor Finance Planning and Administration at the Co-operative University of Kenya (CUK) and career cooperator Prof Esther Gicheru has called for mergers in the co-operative sector if better governance and management have to be achieved. In her presentation titled ‘The Contribution of the Cooperative Business Model in Development: Practices and Opportunities’ to the…
Greenland Fedha Limited, a subsidiary of Kenya Tea Development Agency (KTDA), has issued loans worth Ksh10 billion this year compared to the Ksh5 billion it disbursed to small scale tea farmers the year before. The high amount issued follows the company’s move to deep slash the interest rates in December 2021. Greenland Fedha Limited Chairman…
Sacco Societies Regulatory Authority (SASRA) has plans to create a framework that will see the National Treasury (NT) deducting funds directly from exchequer-funded entities to Saccos. SASRA Chairperson Jack Ranguma said county governments and their legislative assemblies, as well as public universities and tertiary colleges, have continued to top the list of defaulters of Sacco…
Detectives from the Directorate of Criminal Investigations (DCI) have arrested nine employees of Njiwa Savings and Credit Co-operative (Sacco) Society in connection with the disappearance of Ksh160 million from Sacco savings. In a statement through its official twitter handle this morning September 23, 2023, the DCI noted that the employees belonging to staff of the…
A Matungulu Constituency doctor has asked banks and micro -finance institutions to come up with schemes to motivate coffee growers for investments in the region. Dr Philip Munyao, a consulting doctor, said financial institutions should train farmers on investment opportunities, saying that if there were regular fora organized by the banks, the interaction will encourage farmers to…
Cooperatives and Micro, Small, and Medium Enterprises Development Cabinet Secretary (CS) Simon Chelugui has urged Saccos to embrace the emerging Financial Technology (FinTech) innovations for relevance and sustainability. The CS emphasized the importance of cooperatives and Saccos in achieving financial inclusion for the majority of the Kenyan population in line with the government’s Bottom-up Economic…
Kajiado County Executive Committee Member (CECM) for Gender , Cooperatives and Culture Janet Sereu has revealed that the county government will revive the annual Ushirika day celebrations which were stopped three years ago. Speaking during the handing over of a cheque for the purchase of a new house to Muungano Women Group Housing Cooperative, the CECM revealed that the…
