Sacco Star Magazine

The leading SACCO magazine in Africa.
Published quarterly
DM to advertise in the magazine Africa's premier SACCO publication.

[Sacco Star Magazine @sacco_star]

Forming a larger network of cooperatives enables co-ops and collaborators to benefit mutually, rather than compete for profit like non-cooperative businesses.

Working together highlights the value of solidarity.

#Coops #SaccoStarMagazine

[Sacco Star Magazine @sacco_star]

SACCOs play a vital role in managing monthly financial obligations such as loan repayments, savings contributions, and salary deposits.

Monthly usage patterns showed varied trends, with SACCOs maintaining high engagement at 74.9%

[Sacco Star Magazine @sacco_star]

This highlights a significant generational gap in technology adoption.

[Sacco Star Magazine @sacco_star]

Modern SACCO Usage on the Rise

✅ Membership grew from 9.6% to 11.7%
✅ Mobile channels (70.6%) now surpass traditional SACCO usage (66.1%)
✅ Rural users (75.1%) prefer branches more than urban users (60.7%)
✅ Older members (80.2%) stick to traditional channels

[Sacco Star Magazine @sacco_star]

SACCOs Embrace Digital, But Branches Still Key

✅Only 1.1% rely on HQ visits
✅66.7% rural vs. 52.0% urban prefer branches
✅Digital payments higher in cities (28.5% vs. 14.3% rural)
✅Mobile banking growing, but men use apps more than women

Source: @FSDKe

[Sacco Star Magazine @sacco_star]

How often do you review your financial goals?

[Sacco Star Magazine @sacco_star]

In a world where data privacy is a big topic, we engaged Salma Ramadhan from the Office Of The Data Protection Commissioner on matters data protection.

Watch Now
https://t.co/8eurN0YydB via @YouTube

[Sacco Star Magazine @sacco_star]

Imagine a SACCO where your social media followers are your guarantors.

In the latest edition of the SACCO Star Magazine, @PalscitySacco chairman, Alphonse Juma talks about the innovative financial services they offer.

Get your copy.

[Business Daily @BD_Africa]

The man with unenviable job of rescuing Kuscco from financial doldrums after heist

More on: https://t.co/jYxUSeGETt

[Business Daily @BD_Africa]

For the years that Arnold Munene has worked at Kenya Union of Savings & Credit Co-operatives, nothing in his wildest dreams had prepared him for taking over an entity that a multi-billion shillings heist has battered.
https://t.co/jYxUSeG73V

[The SACCO Regulator @SASRA_ke]

Happening: Workshop organized by the Sacco Societies Regulatory Authority (SASRA) and the National Treasury Pensions Department to deliberate on the preparedness for migration to the proposed online pensions system in Nairobi. Delegates include CEOs and CFOs from regulated Deposit-Taking (DT) SACCOs.
The workshop aims to:
• Highlight the role of SACCOs in pension disbursement
• Outline key contributions towards a successful migration
• Discuss critical preparations for a seamless transition
• Assess the readiness of DT SACCOs for the new system

SACCOs are leveraging this opportunity to enhance the efficient disbursement of pensions through their institutions.

@KeTreasury

[Sacco Star Magazine @sacco_star]

KUSCCO aims to recover 70% of the KES 8.8B invested by SACCOs within three years. Currently, Sh136 million has already been refunded. The plan includes auctioning assets, recovering loans, and selling their stake in KUSCCO Mutual Assurance.

[FSD Kenya @FSDKe]

A study by FSD Kenya and @SASRA_ke on the role of SACCOs as international remittance providers in Kenya reveals that, while remittances to Kenya reached USD 4.19 billion in 2023, SACCOs have limited direct participation due to regulatory and operational challenges.

Unlocking this potential requires collaboration among SACCOs, policymakers, regulators, and development partners. Key priorities include regulatory reforms to enable direct SACCO participation, capacity-building initiatives to enhance their technical and operational capabilities, and product innovation, such as diaspora savings accounts and remittance-backed loans. Targeted reforms and strategic investments can unlock SACCOs' potential to reshape Kenya’s remittance landscape.

More details on the study’s key findings here: https://t.co/2fC2qsj2fD

#InclusiveFinance#DigitalFinance #SavingsandCreditCooperatives

[Waumini Sacco Society LTD. @WauminiSacco]

𝐖𝐚𝐮𝐦𝐢𝐧𝐢 𝐒𝐚𝐜𝐜𝐨'𝐬 44𝐭𝐡 𝐀𝐧𝐧𝐮𝐚𝐥 𝐃𝐞𝐥𝐞𝐠𝐚𝐭𝐞𝐬 𝐌𝐞𝐞𝐭𝐢𝐧𝐠 – 𝐀 𝐅𝐚𝐦𝐢𝐥𝐲 𝐔𝐧𝐢𝐭𝐞𝐝 𝐢𝐧 𝐏𝐮𝐫𝐩𝐨𝐬𝐞!

[State Department for Co-operatives @Ushirika_Kenya]

CS @DrOparanya ~ The Cabinet approved SACCO Societies Act amendments including Shared Services Framework and Central Liquidity Facility to modernize operations and enable inter-SACCO transactions, as well as participation in the National Payment System.
#GoodGovernance

[Gichuki Kahome @kahome_steve]

A few things that many people get wrong about SACCOs:

1/ You make money in two ways:

✅Share capital - You buy shares of the SACCO, then earn dividends annually depending on how the SACCO has performed.

[State Department for Co-operatives @Ushirika_Kenya]

Cabinet Secretary @DrOparanya ~ The Interim Board has completed forensic audit, reconstructed accounts to reflect @kuscco true financial position, implemented a strategic recovery plan and amended the Bylaws. #EnhancingAccountability || #CooperativeReforms || #EmpoweringSaccos

[Sacco Star Magazine @sacco_star]

KUSCCO Recovery Update

✅ Legal action & asset recovery in progress
✅ Gov’t assures funds will be recovered
✅ KUSCCO selling assets to restore SACCO funds
✅ New board & financial reforms underway
✅ SACCO Act amendments approved for liquidity & security

[Patrick Kilemi @Patrickkilemi]

We have reaffirmed our commitment to reforms in the Co-operative movement as we continue strengthening governance structures and enhancing the legislative framework to support a competitive and sustainable sector in Kenya.
#EnhancingAccountability | #EmpoweringSACCOs |

[Sacco Star Magazine @sacco_star]

Cabinet approves amendments to the Sacco Societies Act, 2008.

The amendments introduce several reforms aimed at improving liquidity, operational efficiency, and financial oversight.