Savings and Credit Cooperative Societies (SACCOs) play a vital role in financial inclusion by providing affordable credit and savings opportunities to millions of Kenyans. With their growing membership and deposits, SACCOs are increasingly exposed to risks that could affect their stability and members’ trust. Effective risk management is therefore essential to protect members’ funds, ensure […]
Savings and Credit Cooperative Societies (SACCOs) have long been a trusted vehicle for financial inclusion in Kenya and beyond. They offer members affordable credit, savings options, and a sense of ownership that commercial banks often lack. However, with the growing number of members and the increasing size of deposits, the question of financial security within […]
Sacco Society Regulatory Authority (SASRA) has cautioned Kenyans against unregulated SACCOs operating in the country. There are over 300 Deposit Taking (DT) and Non-Deposit Taking (NDT) SACCOs licensed by SASRA to operate in Kenya. SACCOs licensed to operate in Kenya The regulator listed 176 DT SACCOs approved to operate in Kenya for the period between […]
Guide to Year-End Financial Checkup for SACCO Members By Caroline Machira As the year draws to a close, it’s an opportune time for SACCO members to embark on a comprehensive year-end financial checkup. Taking stock of your financial landscape at this juncture not only helps in reflecting on the past year but also lays a […]
Why, When and How you get a guarantor orguarantee someone. By Elizabeth AngiraEvery financial year, during the Annual Delegate/General Meetings, SACCOs cry foul of members’ funds lost through loan defaulting. The trend cuts across the sector with member also falling prey as loan guarantors.Societies have been forced to write off billions of shillings amounting to […]
The feature of vipingo workers saving and credit cooperatives society limited hangs in balanc
because of unresolved management disputes threating the stability
By Sacco Trend Reporter The holiday season is a time for relaxation, rejuvenation, and making cherished memories with familyand friends. It’s also a time when expenses tend to soar as we indulge in gifts, travel, and specialexperiences. To ensure your holiday budget stays on track, Savings and Credit Cooperative Societies(SACCOs) offer a range of savings […]
Siraji Sacco has been creating value for its members’ funds since its inception. The society support over 12,000 members.
SASRA Chief Executive Officer Peter Njuguna pointed out that Sacco leaders should recognise a certain degree of collaboration amongst themselves.
