Many a time children are made to answer the question; what would you like to be when you grow up? Filled with eagerness to take on the world, most of the answers are a somewhat lingering chime of engineering, aviation or medicine, and etcetera. Hardly will ‘a fisherman, seafarer or docker’ pop up as a …
Over the years, the popularity of savings and credit societies in Kenya has seen close to 5.4 million people subscribe and deposit approximately KES 431 billion up from KES 380 billion between 2019 and 2020. In addition, the Sacco supervision annual report 2020, highlighted that gross loans grew from KES 419.55 billion to KES 474.77 …
Developing a Working Framework for the Sacco Deposit Guarantee Fund Read More »
The stability of the financial industry globally depends on confidence bestowed upon it by consumers of its services. Such confidence stems from the fact that consumers believe that their hard-earned savings are not only accessible but secure. Kenya’s financial space has experienced its fair share of turbulence in the past decade. Before the current Governor …
Effectiveness of the Sacco Deposit Guarantee Fund Read More »
Over the years, the business model adopted by savings and credit cooperative societies (SACCOs) in Kenya has placed members’ contributions in a precarious position. In 2019, the Ministry of Trade (Currently the overall supervision of SACCOs in Kenya is under the Ministry of Agriculture, Livestock, Fisheries and Cooperatives) conducted an inspection which brought to light …
EFFECTIVENESS OF THE SACCO SOCIETIES’ FRAUD INVESTIGATION UNIT (SSFIU) Read More »
Recently the Kenyan Government began a drive to transform Nairobi County into a regional and potentially continental financial hub. This would mean that the city would be at par status with notable hubs such as London, Hong Kong, Dubai and New York. Although this initiative is ambitious and achievable, the journey to transform the city …
The Buzz on the Nairobi International Financial Centre Agenda Read More »
