SACCO
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 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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SACCO
SACCOS Constitution , Rules and Regulation
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 of financial resources in the country. Many Kenyans prefer SACCOs since […]
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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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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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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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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 cooperative movement. Co-operatives are defined as an independent […]
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SACCO
SACCO Software
Why Saccos should adopt a Cloud Based IT Platform
Why Saccos should adopt cloud solution. 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 technology. It’s quite pricey to set up initially if a SACCO is to use on-premise technology. The initial CAPEX has made it difficult for small […]
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