Co-op Bank SACCO Wins as Kenya Marks Global Cooperatives Year
Co-operative Bank of Kenya’s employer-based savings and credit unit, NWDT Sacco Society, has been ranked the best performing large- and medium-tier non-withdrawable deposit-taking (NDT) SACCO during the country’s 2025 Ushirika [...]
Sacco Scandals Fire Gov't into Action, But Will Reforms Hold?
The government has moved to protect interest of members in the Savings and Credit Cooperative Societies (SACCOS) following growing cases of mismanagement leading to the total or near collapse of [...]Troubled KUSCCO to Auction 50 Properties in June
The Kenya Union of Savings and Credit Co-operatives (KUSCCO) is preparing to auction off a portfolio of real estate assets in a nationwide campaign, with 50 properties slated to go [...]Metropolitan Sacco Penalised for Clinging to Member’s Deposit
The Cooperatives Tribunal has ordered struggling Metropolitan SACCO to refund a member’s Ksh 351,258.71 deposit plus costs and interest after failing to prove why it had not done it despite [...]Stima Sacco Shrugs Off KSh 108 Million KUSCCO Hit as Profits, Assets Surge in 2024
Stima Sacco is seeking to recover KSh 108 million it invested in the Kenya Union of Savings and Credit Cooperatives (KUSSCO) but says the amount is insignificant to its full-year [...]Troubled KUSCCO Auctions Members Properties
The troubled Kenya Union of Savings and Credit Cooperatives (KUSCCO) is auctioning multimillion properties of members, ostensibly for defaults, as it grapples with loss of funds due to mismanagement. In [...]SACCOs Bear the Financial Burden of Lost Investments in Troubled KUSCCO
SACCOs (Savings and Credit Cooperative Societies) that stashed huge sums of cash as deposits in the financially-crippled central finance facility at the Kenya Union of Savings Credit Cooperative Union (KUSCCO) [...]
Gov't Warns SACCOs Against Paying Out Dividends While Indebted
The Ministry of Co-operatives and MSME development is worried about the long-term stability and financial integrity of Kenyan SACCOs, prompting strict regulatory requirements for dividend payouts. SACCOs are directed to [...]Kenya Mortgage Refinance to Provide Guarantees for Home Loans
Kenya Mortgage Refinance Company (KMRC) has introduced a Mortgage Guarantee Trust, a facility that will mitigate risks for banks and SACCOs providing home loans to high-risk individuals, particularly low to [...]Bill to Repeal Outdated Co-op Act Cap 490 Published
A Bill that will repeal the 27-year old Co-operatives Act Cap 490has been published and is set to go before Parliament and the Senate for debate and approval. The Co-operatives [...]Ukulima DT Sacco Gives KSh 113.2 Million Dividend Cheque to Members
Ukulima Deposit-Taking Sacco, one of the largest in Kenya, will issue a dividend cheque on the share capital of members amounting to KSh 113.2 million at the rate of 12 [...]Siraji DT Sacco's Balance Sheet Grows to KSh 663.3 Million
Siraji Deposit-Taking Sacco, located in Timau, Meru County, saw its total assets rise to KSh 663.3 million in 2023 from KSh 584.6 Million in 2022. However, Siraji Sacco, which has [...]
