Year: 2023
General
Tax Implications of SACCO Contributions in Kenya
Tax Implications of SACCO contributions are quite essential for SACCO members to understand. This is because, in the country, SACCOs are starting to gain popularity. This is as a result of their many achievements over the recent years. SACCOs play a really vital role in Kenya’s financial landscape. The role of SACCOs in providing opportunities […]
Read More
General
Mobile Money: SACCOs Enhancing Financial Inclusion
In Kenya, where traditional banking services face numerous challenges, mobile money has emerged as a powerful tool for financial inclusion. It has served to revolutionize the financial landscape. As SACCOs strive to extend their reach to unbanked individuals, mobile money has played an important role. This has been done by ensuring that millions of individuals […]
Read More
General
Empowering Communities through SACCOs: Impact on Poverty Reduction in Kenya
In Kenya, poverty remains a pressing issue that affects millions of individuals and communities across the country. As this challenge continues to be persistent, Savings and Credit Cooperative Organizations (SACCOs) have emerged as crucial instruments for empowering communities and combating poverty. The SACCOs have committed themselves as vehicles of poverty reduction and eventually eradication. […]
Read More
Finance
General
SACCO
Youth Empowerment Through SACCOs: A Study of Youth Participation
Youth empowerment through SACCOs is a critical aspect of national development. Kenya takes pride in its rich natural resources and human capital. However, despite the abundance of resources, the country is still grappling with high levels of youth unemployment and underemployment. Therefore, this has led to a growing interest in finding sustainable solutions that can […]
Read More
General
SACCOs’ Social Responsibility: Sustainable Development in Kenya.
SACCOs are playing a significant role in promoting social responsibility by supporting sustainable development initiatives. In Kenya, Savings and Credit Cooperatives (SACCOs) have emerged as an integral part of the country’s financial sector. As a financial institution, they allow individuals to pool their financial resources together. They are also able to provide each other with […]
Read More
General
SACCOs Promoting Gender Equality: Women’s Economic Empowerment
What is the role of SACCOs in promoting gender equality? SACCOs have been at the forefront of promoting gender equality. Basically, they provide financial services such as savings, credit, and insurance to their members. Members own and manage SACCOs, which operate on a not-for-profit basis. Their aim is to establish and promote thrift, provide credit, […]
Read More
General
The Future of SACCOs: Innovations and Trends Shaping the Industry
What is the future of SACCOs as it stands? The future of SACCOs looks bright and promising as they continue to play a vital role in promoting financial inclusion. This is particularly for low-income and underserved communities by allowing them savings options and affordable credit. For decades, Savings and Credit Cooperatives have been significant players […]
Read More
General
SACCOs vs Banks: Which is the Better Option for Your Financial Needs?
SACCOs vs Banks: Which is the Better Option for Your Financial Needs? Financial management is one of the most important aspects of consideration among individuals. In this regard, there are many options that are available to kickstart the finance management journey. Two of the popular choices to compare are SACCOs vs Banks. They both offer […]
Read More
General
Credit Risks in SACCOs: Lessons from Successful SACCOs
Savings and Credit Cooperatives (SACCOs) are important financial institutions that have played a key role in promoting financial inclusion, especially in rural areas where access to formal financial services is limited. SACCOs provide their members with access to credit and other financial services that help them improve their livelihoods. However, as with any financial institution, […]
Read More
General
Benefits of SACCO Membership for Small Business Owners
Small business owners play a critical role in the global economy. This is most especially due to their efforts in driving innovation, creating jobs, and contributing to local communities. However, small business owners face numerous challenges. The challenges could range from a lack of ease in accessing credit to challenges in building networks and also […]
Read More