Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
The best choice for the youth to achieve the much sought after financial empowerment is for them to join good Saccos. Offering young entrepreneurs admission into Saccos and other accelerators alleviates the risk and fear that comes with taking the leap into entrepreneurship alone. Enterpreneurhsip is an area where many youth have feasible ideas about…
The importance of Saccos as suitable vehicles for mobilising local savings and extending affordable credit to their members requires no belabouring. The impact of the Sacco movement on the country’s economy has over the years been hailed as significant and a success story in the region and beyond. Stories abound that some big Saccos are…
Commissioner for Cooperatives David Obonyo has raised concern over the threats posed by cyber-related crimes in Sacco operations. Obonyo lamented that criminal activities that target users through computers and phones have been on the increase in the Saccos. “This challenge is more prominent in Saccos that are financially struggling and those that are suffering from…
Cabinet Secretary Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Development Simon Kiprono Chelugui has urged cooperatives to invest in technology to tackle climate change which has become a challenge in the development of cooperative movement. Speaking during the 7th Annual Conference 2023 at the Cooperative University of Kenya (CUK), Chelugui said climate change has…
By Our Reporter CoreTEC Systems & Solutions is the leading Mobile (Digital) Financial Service Application provider company in country’s Sacco sector. In a recent survey conducted by Sacco Societies Regulatory Authority (SASRA), the firm ranks at the top of the leading companies in provision of digital technology to Saccos. According to 2017 Sacco Supervision Annual…
Blockchain technology is the new kid in the block that could forever alter the digital landscape of the Sacco sector in Kenya. Blockchain is a distributed ledger that can keep track of the transactions happening in a number of machines and does not allow the retroactive alterations of records without the alteration of all subsequent…
By Munene Maina Nyala Vision Sacco has upgraded its system software. “This new version will enhance speed and quality of service delivery and accommodate variety of innovative devices,” said the Sacco Chairman, Samuel Ngure. The new system will enable Sacco members to easily access their accounts through the WEB portal and print their statements online….
By Collins Akong’o Saccos which have embraced modern technology in service delivery have the competitive edge in the market. KUPPET Executive Secretary Taita Taveta County Shedrack Mutungi said use of technology will strengthen Saccos’ operations and ensure they withstand competition. He called on co-operatives leaders to fast-track the process of expansion to ensure the growth…
By Munene Maina The technological advancements sweeping the financial sector and the high cost of opening and running branches have forced Savings and Credit societies to re-strategize to beat the competition and grow their businesses. Most Saccos are now rolling out agency banking or opening satellite branches to extend their reach and reduce operation cost…
