SACCO

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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SACCO

Factors to consider when joining a SACCO

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 often disappointed when they cannot secure loans, especially where they are unable to mobilize members to act as guarantors or […]

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SACCO

How SACCOs in Kenya are structured

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 the SACCO bylaws which state the objectives, membership, share capital, organization structure, management and lending regulations. The sector is regulated […]

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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 co-operative 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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SACCO

Saccos and their formation

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. They have played a major role in the mobilization financial resources in the country. Many Kenyans prefer Saccos since they […]

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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 which tend to provide the best services in 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 services […]

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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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SACCO

Why Saccos Should Adopt Cloud Solutions

Small Savings and Credit Co-operative Societies (Saccos) can now eliminate the cost of buying computer servers and employing ICT personnel by tapping into cloud-based servers. It costs Sacco’s between Sh 800,000 and Sh 2 million to acquire computer servers. This has made it difficult for small Sacco’s to leverage on technology to cut costs and […]

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