Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
The Ministry of Cooperatives and Micro, Small and Medium Enterprise (MSME) Development Cabinet Secretary (CS) Simon Chelugui has urged Saccos to support the development of different value chains in the country in order to uplift livelihoods. Speaking in Kakamega during the launch of Invest and Grow (IG) Sacco’s 2023-2027 Strategic Plan, the CS urged Saccos…
Uasin Gishu County Cooperatives and Enterprise Development Chief Officer Ruth Samoei has announced that her docket is working on a plan to award Boda boda Saccos operating within Eldoret Central Business District. Speaking during the donation of branded umbrellas and reflector jackets to 14 Saccos conducted by the county Department of Trade, Industrialization, Tourism, Cooperatives…
While Saccos have been in existence for years and being lauded as priceless savings and credit extension avenues, it now looks quite challenging to convince the youth to save in Saccos. The Sacco sub-sector Demographics Study Report of 2019 released by Sacco Society Regulatory Authority (SASRA), which carried an in-depth study on age and gender…
All Cooperatives will in future become federations and subscribe to an apex body, Kenya Union of Savings and Credit Cooperatives (KUSCCO) Group Managing Director George Ototo has hinted. A restructured Cooperative sector will ensure sustainability and viability as it will solely depend on the subscription of the cooperative members. “The economic participation of our business…
The national government has issued guidelines on approval of maximum borrowing powers by cooperatives. Commissioner for Cooperatives Development David Obonyo stated that the guidelines are to enhance good governance and leadership in the cooperative sector. In a letter dated August 16, 2023 directed to County Directors/ Commissioners for Cooperatives, CEO/MD- Cooperative Alliance of Kenya, Chairpersons…
