Savings - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

MP Kailemia urges youth to embrace saving culture to benefit from government funding

Sacco ReviewJuly 28, 202603 mins

Kailemia urged youth to embrace saving and join registered groups. She said even small savings can build long term financial security. She encouraged table banking to access government funding and investment opportunities. Meru Woman Representative Elizabeth Kailemia has urged the youth to embrace a saving culture by enrolling in registered groups to benefit from government…

Kenya National Police DT SACCO boosts financial literacy through regional member training

Sacco ReviewJuly 17, 202606 mins

Regional financial literacy seminars empower top savers SACCO expands Corporate Social Initiative projects nationwide Members trained on savings, investments and cooperative growth The Kenya National Police DT SACCO embarked on regional top savers training seminars aimed at empowering its members on matters of financial literacy and economic empowerment and equipping them with valuable knowledge to…

Kenyans urged to safeguard savings amid Gulf fuel crisis

Sacco ReviewJuly 17, 202604 mins

CEO urges Kenyans to safeguard savings and use fuel prudently amid Gulf crisis. Rising fuel prices are shrinking household savings, business profits and borrowers’ creditworthiness. Financial institutions say they can only advise members as they await government intervention. Kenyans have been urged to utilize their savings and fuel reserves prudently to navigate the economic hardships…

National Assembly moves to calm fears over Sacco savings in proposed law

Sacco ReviewJuly 14, 2026July 14, 202607 mins

Parliament has dismissed claims that the proposed Sacco law will allow the government to access members’ savings or control Sacco management. The Bill seeks to strengthen regulation, improve financial stability and establish a secondary Sacco to provide shared services for member cooperatives. The National Assembly says the legislation is still undergoing public participation, with stakeholder…

Kenya’s new Sovereign Wealth Fund explained in simple terms

Sacco ReviewJuly 9, 2026011 mins

President William Ruto has signed the Sovereign Wealth Fund Act into law, marking a new chapter in Kenya’s economic journey. The name sounds technical and complicated, but the idea behind it is actually quite simple. It is about saving today so that the country can have a better tomorrow. Imagine a family that receives an…

State allays fears over proposed small SACCOs mergers, says members’ savings won’t be undermined

Sacco ReviewJanuary 21, 202604 mins

The government has sought to allay fears among low-income and small cooperative societies, assuring them that proposed mergers with larger Savings and Credit Cooperative Organisations (SACCOs) will not threaten their stability or members’ savings. Cooperatives Principal Secretary Patrick Kilemi said the reforms are intended to stabilise the SACCO sector, improve governance and enhance performance through…

Building Your Future: Why SACCOs Are Key to a Secure Retirement

Sacco ReviewOctober 8, 2024October 8, 2024010 mins

Saving for retirement is one of the most important financial decisions individuals need to make during their working lives. It is essential to ensure financial security and peace of mind in one’s later years. However, many people struggle with planning for retirement due to limited access to pension schemes, financial illiteracy, or inadequate income. Savings…

More than 18 million Kenyans have not joined cooperatives

Sacco ReviewJuly 4, 2024July 4, 202403 mins

The government is now aiming to have Kenyans embrace saving culture for betterment of their financial well-being. Cooperatives Principal Secretary Patrick Kilemi says more than 18 million Kenyans are not in cooperatives and the government is pushing to have them save the little they make through cooperatives. The PS says they are encouraging Kenyans to…

92,000 members have hit Ksh1M mark in savings, says SASRA

Sacco ReviewSeptember 30, 2023September 30, 202305 mins

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…

SACCO loans outweigh deposits in 2022, SASRA says

Sacco ReviewSeptember 13, 2023September 13, 202302 mins

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…