General
General information on SACCOs
General
SACCOs’ Affordable Credit: Empowering Members
Savings and Credit Cooperative Organizations (SACCOs) are financial cooperatives whose popularity is increasing by the day in many parts of the world. In empowering their members, Saccos’ Affordable Credit is a very key aspect that is a stronghold for the members. SACCOs are structured in that, the members pool their savings to create a common […]
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Finance
General
Digital Transformation in SACCOs: 5 Key Strategies and Best Practices
Digital transformation in SACCOs cannot stand as an exception in the world of finance where digital transformation is a buzzword in recent years. Generally, digital transformation involves the integration of digital technology into all areas of an organization. This includes SACCO‘s operations, processes, and services. SACCOs (Savings and Credit Co-operative Organizations) have been at the […]
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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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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 in folds to provide them with recognition installation. In general, the […]
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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 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 still […]
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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 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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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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