Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
Cooperatives Commissioner David Obonyo has urged the sector to be guided by the values and principles of the cooperative movement in their operations, with a view to standing out from other business models. Obonyo noted that the core mandate of CAK is to ensure cooperatives entrench the principles and values of cooperatives so that its…
The 2022 SACCO Supervision report has revealed a concerning trend of how SACCO members sought more loans than they had deposited. According to data from the SACCO Societies Regulatory Authority (SASRA), SACCOs held deposits of Ksh620.45 billion but loaned out Ksh680.35 billion by the end of 2022. The loan book grew by 11.8% from Ksh608.75…
The latest released Sacco Societies Regulatory Authority (SASRA) report reveals a significant surge in competition between Savings and Credit Cooperative Societies (SACCOs) and commercial banks in Kenya, with consumers opting for SACCOs. The craze for SACCOs is because they offer low-interest loans and attractive dividend payouts, making them an appealing choice. Furthermore, SACCOs’ member centric…
Members of Gatagua Coffee Farmers’ Cooperative Society in Murang’a County have urged the government to suspend the Coffee Regulations 2019. During a Special General Meeting held recently, the farmers argued that the new regulations do not favor competition in the marketing of coffee hence denies them a chance to explore other opportunities for better returns….
The fifth cooperative principle of education, training and information encourages Cooperative societies to hold education days through which members, stakeholders and the public are made to understand their operations. Staff training is an important strategy for any Sacco that wants to achieve its set goals. There might be a possibility that the staff hired in our…
Kilifi County Deputy Governor Flora Mbetsa Chibule has stressed the need to support cooperatives as key enablers of Kenya’s improved social and economic growth. Cooperatives, she said, cut across all the sectors of the economy, namely agriculture, mining, housing, transport, and manufacturing. In addition, they are known worldwide as instruments of poverty eradication and wealth…
Saccos hired 3,430 agents in towns across the country in a strategy aimed at ensuring efficient and effective services for their members. According to the Sacco Supervision Report for 2022 released by the Sacco Societies Regulatory Authority (SASRA), 36 Deposit-Taking (DT) Saccos hired 3,430 agents to help them handle customer transactions, which helped to cut…
