There are many savings and credit societies (SACCOs) operating without proper registration in Kenya. And these face tough measures including closure through the regulations by the Savings Regulatory Authority (SASRA). SASRA has recently launched tough …
Kenya’s famed co-operatives sector appears to be growing pretty fast with more and more Kenyans jumping into the fray. However, there are many people who are not conversant with Sacco operations and rules and are …
A Savings and Credit Co-Operative (SACCO) is an association of like-minded individuals, registered under the Ministry of Cooperative Development and Marketing in Kenya, and authorized to take deposits from and lend to its members. Saccos are governed by …
In recent times, the Central Bank of Kenya Governor Patrick Njoroge has noted that there are risks to Kenyans who use their mobile phones to take loans thus a need for regulation in the booming …
From time to time we, Kenyans wake up to the news of yet another savings and credit co-operative society (Sacco) in trouble. The truth is, financial institutions don’t suddenly become broke or find themselves under …
Shylocks have gone hi-tech in Kenya. Mobile phone money lenders have grown like mushrooms Kenya. Numerous mobile lenders have continued to thrive in the local market, offering loans at exorbitant interest rates and ruthlessly going …
Kenya has one of the largest financial sectors in the region. This has really shaped the economic growth and development in the country. A major contributor to this milestone goes to the effort of SACCOs. …
Are you in a fix and need quick cash? A digital loan is the way to go. As a matter of fact, getting a traditional loan from a bank or a Sacco takes time and …
SACCOs are member-owned financial institutions that offer savings and credit services to their members. In Kenya, there are many SACCOs which tend to provide the best services in form of financial aid and banking services. …
Buying electricity on credit through Okoa Stima is the most expensive mobile lending in Kenya. The mobile-based electricity loan, known as Okoa Stima, attracts a monthly interest of 43.4 percent, making it the most expensive, …
