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SASRA urges Sacco to embrace modern technology and strict compliance for sustainable growth

Sacco ReviewJune 13, 2025June 13, 202506 mins

Manager of Market Conduct Supervision at the Sacco Societies Regulatory Authority (SASRA), Anne Kago has said the financial and Sacco sector is constantly evolving, and staying ahead of regulatory trends is key to growth and compliance. Addressing a gathering of Sacco leaders and financial experts, she broke down the latest regulatory shifts shaping the industry,…

SMEs challenged to leverage on technology for growth, sustainability

Sacco ReviewFebruary 21, 202508 mins

Small and medium-sized enterprises (SMEs) have been challenged to leverage on technology and adopt industry networks to position their businesses better for growth. Industry players noted that for small businesses to flourish, adoption of technology is key as it helps in data management, enhanced protection against cyber threats, facilitates improved service delivery and enables access…

Saccos urged to embrace tech to lure youth membership

Sacco ReviewAugust 23, 2024August 23, 202403 mins

The Kenya Union of Savings & Credit Co-operatives Ltd (KUSCCO) Group Managing Director Arnold Munene has urged Saccos to take advantage of enhanced technology to boost their membership. Munene, in a commentary in one of the dailies, said that by doing so they will tap into the youth demographic which forms a majority of the…

Jubilee insurance to make record KSh1 billion dividend payout

Sacco ReviewMay 30, 202405 mins

Jubilee Holdings will pay a total dividend payout of KSh1.04 billion for the full year ended December 2023 despite a decrease in profits compared to 2022. The insurance company recorded a KSh4.4 billion profit last year compared to KSh5.5 billion posted in 2022. In the full year to December 2022, the insurer issued a dividend…

Embrace technology to increase visibility, Chelugui advises Saccos

Sacco ReviewFebruary 27, 2024February 28, 202405 mins

Savings and Credit Cooperative Societies (Saccos) across the country have been challenged to embrace innovation and technology. The Cabinet Secretary for Cooperatives and Macro Small and Medium Development Simon Chelugui noted that doing so will help Saccos to increase their accessibility and visibility. He was addressing the 9th Annual Sacco Leaders Convention Meeting in Mombasa…

Saccos urged to consider Gen Z’s preferences in their strategies

Sacco ReviewNovember 30, 2023November 30, 202303 mins

Saccos have been advised to adapt their strategies to cater to the preferences of Generation Z (Gen-Z) – referring to individuals born between 1996 and 2010 – by implementing advanced and interactive technology. Speaking during a Customer Breakfast Forum themed ‘Saccos and Gen-Z’ hosted by NCBA Bank, Cabinet Secretary (CS) for Co-operatives and MSMEs Development,…

Saccos urged to fully digitize their services, embrace digital economy

Sacco ReviewNovember 8, 2023November 8, 202303 mins

The world of finance is evolving at an unprecedented pace, with customers demanding efficiency, convenience and faster financial services. This is a wake-up call to SACCOs to digitize their services to allow customers to access their accounts and perform a wide range of transactions so as to avoid losing market share to tech-savvy competitors. “Digital…

ICT players urged to adopt technology to ensure audit compliance

Sacco ReviewNovember 4, 2023November 4, 202304 mins

Players in the Information, Communication and Technology (ICT) industry have been encouraged to adopt Artificial Intelligence (AI) technology while conducting audit exercises and ensuring conformity to governance compliance in the process. Speaking during the Governance, Risk and Compliance (GRC) conference hosted by ISACA Kenya Chapter and held at Sarova Imperial Hotel in Kisumu, Deputy Auditor…

Adopt AI technology to ensure compliance in auditing, ICT players urged

Sacco ReviewOctober 30, 2023October 30, 202304 mins

Players in the Information, Communication and Technology (ICT) industry have been encouraged to adopt Artificial Intelligence (AI) technology while conducting audit exercises and ensuring conformity to governance compliance in the process. Speaking during the Governance, Risk and Compliance (GRC) conference hosted by ISACA Kenya Chapter and held at Sarova Imperial Hotel in Kisumu, Deputy Auditor…

SASRA: Saccos lost Ksh233M to rogue staff

Sacco ReviewOctober 23, 2023October 23, 202308 mins

The rush by Saccos to embrace mobile and internet banking as a replacement for the brick and mortar branches is proving to be a weak link in the fight against fraud in Saccos. A recently released SASRA report covering 2021 and 2022 shows that rogue Sacco staff are breaching internal systems and riding on mobile…