General

General information on SACCOs

General

Why You Should Make Your Loan Repayment on Time

Repayment of loans is one of the main drivers of financial success. For this reason, a large number of people have a good intention of covering their bills and loans on schedule. However, we know in some cases life has a method of disrupting the general flow. Be it Busy timetables, Vacations, distinctive due dates […]

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General

The Main Difference Between Saccos and CIS

CIS and SACCO have similarities but their main difference is in their definition and functions. Sacco is an abbreviation for Savings And Credit Co-Operative. Their fundamental goal is to offer saving plans and credit offices. They work in various ways, which is dependent on their plan of action, and Sacco ordinances frequently represent them. They’re […]

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The History of SACCOs in Europe and Africa

To understand the history of SACCOs, it is important to learn about what they are. Basically, a Savings and Credit cooperative otherwise known as a Sacco is a type of corporation that aims at pooling money together. It is often between the members and infolds to provide them with recognition installation. In general, the goal […]

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Why You Should Join an Automated Sacco in 2021

Automated Saccos are an effective way of creating financial stability. This is because they are easily accessible and the SACCOs and offer loans to their members. Additionally, cooperation, community work, and solidarity are what society needs when a country’s economy is unequivocally influenced by the current worldwide pandemic. Despite the current vaccine, international lockdowns are […]

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Which is better? Savings or Investment

Investment and savings are both significant, however, they’re not similar. While both can assist you with accomplishing a more agreeable monetary future, customers need to know the distinctions between the two and learn when it’s ideal to save, and when it’s ideal to contribute. The greatest contrast between saving and investment is the degree of […]

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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 of Saccos in Kenya, which is an excellent thing because then […]

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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
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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Finance
General
SACCO Software

Predatory Lending among Digital Lenders

Mobile loan borrowing has been on the rise across Kenya. With growing smart phone availability and easy access to mobile money transfer and quick application turnaround, digital credit has sky-rocketed in this country. Mobile company Safaricom’s M-Pesa is a well-known example. It is no surprise; therefore, that digital lending has developed so strongly in Kenya. However, it’s […]

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General
SACCO
SACCO Software

Which SACCO to Join? Credit Only or Deposit Taking SACCO?

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 […]

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