Finance
SACCO Finances Management
Finance
SACCO
SACCOs and Regulations in Kenya
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 rules which are intended to weed out fraudulent SACCO outfits. Read on Saccos and their formation The new regulations set […]
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Digital Loans
Finance
Upcoming Regulation of Digital Lending
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 digital credit sector. Whilst many of these small digital credit loans are extremely valuable for people facing emergencies, managing cash […]
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Finance
SACCO
SACCO Leadership – What you need to know
From time to time we, Kenyans wake up to the news of yet another savings and credit cooperative society (Sacco) in trouble. The truth is, financial institutions don’t suddenly become broke or find themselves under the heavy weight of non-performing loans. Such things develop over time. When investigated, collapsing SACCOs will always show that bad […]
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Digital Loans
Finance
Shylocks have gone hi-tech in Kenya
Shylocks have gone hi-tech in Kenya. Mobile phone money lenders have grown like mushrooms in Kenya. Numerous mobile lenders have continued to thrive in the local market, offering loans at exorbitant interest rates and ruthlessly going after individuals who default by engaging their family members with data mined through the applications. The lack of adequate […]
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Finance
SACCO
Front office services to expect from your SACCO
SACCOs are member-owned financial institutions that offer savings and credit services to their members. In Kenya, there are many SACCOs that tend to provide the best services in the form of financial aid and banking services. In an effort to provide better services to their members, they ensure that their members are comfortable with their […]
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Digital Loans
Finance
A comparative look at digital lenders
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, while Equity Bank’s Equitel is the least costly at 2.1 percent per month. Other costly digital lenders are Pesa na […]
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Finance
General
SACCO
SACCO Software
Deciding Which SACCO to Join
Finding the right Sacco in Kenya, one that meets your goals is essential, not only for your financial growth but also for the safety of your money. It is, therefore, vital to do your homework beforehand to ensure you’re settling for the best deal. There are unlimited options for Saccos in Kenya, which is an excellent thing because […]
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Finance
General
SACCO
SACCO Software
Difference between SACCOs and Microfinance
Are you interested in starting a business? Then you need resources and capital. So what do you do? If you are like most Kenyans, you head to your bank and inquire about a loan. While you may successfully get a loan, if you are considered low-income, the odds are you will be denied. That’s where […]
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Finance
SACCO Software
How Secure is Your Money with Your Sacco
Some people have lost money in rogue Sacco that has conned people of their savings. This is not a trend in Kenya but neither should it deter you from saving in a Sacco, if you wish to. To begin with, Sacco is a great initiative that has seen many people save money and access loans at […]
Read MoreFinance
General
SACCO
SACCO Software
How to Know if Your SACCO is a Deposit Taking SACCO or not
Savings and credit co-operatives (Saccos) have come under increasing public scrutiny of late, mostly on charges of loss of member funds. Let’s first understand Saccos; and to do that, we have to start with the co-operative movement. Co-operatives are defined as an independent association of persons united with a purpose to meet their common economic, […]
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