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

Sheria Sacco members stopped from guaranteeing more than two loan applicants

Sacco ReviewMay 19, 2024May 19, 202402 mins

Sheria Sacco has stopped members from guaranteeing several members. Sacco chairperson, Deputy Chief Justice (DCJ) Philomena Mwilu has said it will curb loss of funds through defaulted loans. The official noted previously, a member could guarantee several members and the Sacco lost funds. “Last year, the Sacco lost KSh78 million, a member can only guarantee one…

Sheria Sacco launches new dividend advance product

Sacco ReviewNovember 10, 2023November 10, 202302 mins

Sheria Sacco Society Ltd has introduced a new loan product christened ‘Dividend Advance Loan’. “We are thrilled to inform you about the introduction of our new financial product called the ‘Dividend Advance Loan’. This initiative is a testament to our dedication to offering convenient and easily accessible financial solutions,” read a memo signed by Director…

Sheria Sacco CEO on ambitious growth plans for vibrant society

Sacco ReviewJuly 8, 2023July 9, 2023010 mins

Peter Kariuki is the Chief Executive Officer for Sheria Sacco, one of the leading tier 1 Deposit-Taking Saccos in the country. He speaks elaborately on his vision for the Sacco in an interview with our reporter. He talks about the Sacco’s expansion plan, achievements and challenges among other pertinent issues. Here are excerpts from the…

How Saccos rewarded member dividends

Sacco ReviewApril 30, 2021April 30, 202108 mins

By Malachi Motano Most Saccos rewarded members with favourable dividends in the 2019-2020 financial year despite the challenges posed by the Covd-19 pandemic. The Giant Mwalimu National Sacco (MNS) paid only interests on deposits to members at the rate of 9.3%, compared to 2019 when it paid the same at 10.2 and 11.2% dividends. Also…