Tag: Saccos

ABC Bank partners with Saccos for faster cheque clearance

ABC Bank is partnering with Savings And Credit Co-Operatives (Saccos) to enable members have their cheques cleared within two working days. Sacco members can now enjoy a T+1 cycle on their outward cheque just like other bank customers, the first such innovation in Kenya’s banking and...

More Saccos targeted by cyber criminals

The latest incident involves a reputable IT Vendor which was recently attacked by a web of hackers, who swept all the cash that has on the tills of several Saccos

Police arrest Safaricom staff over Sh70m Saccos fraud

The development comes barely days after the telco revealed in its 2018 sustainability report that it dismissed 43 employees in the year to March for fraud related incidents

Why World Bank wants Saccos turned into banks

Global lender says while the country already has 43 commercial banks, one way of increasing competition would be to allow Saccos to compete on a level playing field, adding it would help reduce cost of credit

Govt launches online portal for Saccos

CS AdanMohamed said the government is finalising development of a national policy that is expected to transform the sector through technology adoption and skills upgrade

Two young men who turned salary advance challenge into business

Fredrick Alunala and Samuel Kyalo have created M-MKOPO, a mobile credit solution that has automated Saccos loan disbursements and advance salary payments for employers