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Kenya Sacco's 2013 Performance
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Stract_Consulting
#1 Posted : Thursday, August 07, 2014 8:46:32 AM
Rank: New-farer

Joined: 6/3/2014
Posts: 58
Location: Nairobi
While we await the Sasra report on the SACCO subsector performance for 2013, World Council of Credit Unions (WCCU)has released a report highlighting the following on Sacco performance in Kenya for 2013

- 5000 Credit unions
- 4,722,127 members in these unions
- This is 19.02% of Kenya's Population
- $2,659,761,058 in Savings and shares
- $3,732,814,994 on Loans advanced
- $323,646,493 on reserves
- $4,466,313,096 in assets

For 2012, the stats are as below:
- 5000 Credit unions
- 4,722,126 members in these unions
- This is 19.53% of Kenya's Population
- $2,972,704,029 in Savings and shares
- $3,397,826,904 on Loans advanced
- $273,998,961 on reserves
- $4,180,986,255 in assets

There seems to be a slight decline on the cooperative movement in KE
Be ignorant and ask a few questions - Peter Drucker
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webish
#2 Posted : Friday, August 08, 2014 9:37:07 AM
Rank: Member

Joined: 10/19/2009
Posts: 671
Location: Nairobi
Stract_Consulting wrote:
While we await the Sasra report on the SACCO subsector performance for 2013, World Council of Credit Unions (WCCU)has released a report highlighting the following on Sacco performance in Kenya for 2013

- 5000 Credit unions
- 4,722,127 members in these unions
- This is 19.02% of Kenya's Population
- $2,659,761,058 in Savings and shares
- $3,732,814,994 on Loans advanced
- $323,646,493 on reserves
- $4,466,313,096 in assets

For 2012, the stats are as below:
- 5000 Credit unions
- 4,722,126 members in these unions
- This is 19.53% of Kenya's Population
- $2,972,704,029 in Savings and shares
- $3,397,826,904 on Loans advanced
- $273,998,961 on reserves
- $4,180,986,255 in assets

There seems to be a slight decline on the cooperative movement in KE


Hmm, Very interesting stats.

I wait to see what Sasra reports..see whether they make sense.. When does it come out?

Life is joy, death is peace, but the transition is very difficult.
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Stract_Consulting
#3 Posted : Monday, August 11, 2014 10:41:27 AM
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Joined: 6/3/2014
Posts: 58
Location: Nairobi
The last report came in November last year. So hopefully this year, they would release it earlier. However, it is worth nothing that what the world council has are Saccos which are under the KUSCO umbrella. While there are 5,000 registered SACCOs the number of all Cooperatives number about 16,000
Be ignorant and ask a few questions - Peter Drucker
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Othelo
#4 Posted : Tuesday, August 12, 2014 11:43:40 AM
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Joined: 1/20/2014
Posts: 3,528
There are a large number of Saccos under the umbrella of Kenya Rural Savings and Credit Cooperatives Societies Union (Kerussu). Kerussu need to be active!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Stract_Consulting
#5 Posted : Friday, August 15, 2014 9:01:55 AM
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Joined: 6/3/2014
Posts: 58
Location: Nairobi
Othelo wrote:
There are a large number of Saccos under the umbrella of Kenya Rural Savings and Credit Cooperatives Societies Union (Kerussu). Kerussu need to be active!


As a new twist, there are 30 Saccos who have failed to meet SASRA regulations and will now not be allowed to Offer Front Office Services (FOSA). A review by the AG, to give these saccos more time failed because the AG, thought denying them licence would not destabilise the sector. This now means that there are only 185 Saccos that are allowed to carry out FOSA operations.

http://www.businessdailyafrica....96/-/uuhf7d/-/index.html30 SACCOs to close FOSA offices
Be ignorant and ask a few questions - Peter Drucker
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Stract_Consulting
#6 Posted : Monday, September 01, 2014 9:31:33 AM
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Joined: 6/3/2014
Posts: 58
Location: Nairobi
Stract_Consulting wrote:
Othelo wrote:
There are a large number of Saccos under the umbrella of Kenya Rural Savings and Credit Cooperatives Societies Union (Kerussu). Kerussu need to be active!


As a new twist, there are 30 Saccos who have failed to meet SASRA regulations and will now not be allowed to Offer Front Office Services (FOSA). A review by the AG, to give these saccos more time failed because the AG, thought denying them licence would not destabilise the sector. This now means that there are only 185 Saccos that are allowed to carry out FOSA operations.

http://www.businessdailyafrica....96/-/uuhf7d/-/index.html30 SACCOs to close FOSA offices


The SASRA 2013 SACCO supervision report is out and can be downloaded from their website.

Key highlights are:

There are over 6,000 registered Savings and Credit Cooperatives (SACCOs) in Kenya
1,995 SACCOs filed audited financial statements for the year ending 31 December 2013 with the Ministry of Industrialization and Enterprise Development
Deposit Taking SACCOs (215 in number)account for 78% of the total assets and deposits of the entire SACCO sector


Read More here Kenya SACCOs 2013 Performance

On membership, Wakenya Pamoja leads the pack with 148,381 members on its register, followed by UNAITAS with 146,964 members. See the full list here Ranking of Kenyan SACCOs on Membership

Mwalimu SACCO and Harambee are the top two SACCOs when ranked on Assets, with Kshs 24.5 billion and Kshs 17.633 Billion worth of assets as at 31 December 2013. See the full list here Ranking of Kenyan SACCOs on assets

Mwalimu and Harambee SACCO still lead when ranked on deposits. See the full list here Ranking of Kenyan SACCOs on Deposits

While ranking Loans and Advances, Mwalimu and Harambee still lead the pack. See the full list here Ranking of Kenyan SACCOs on loans and advances

On revenue, Mwalimu and Harambee are the top earners. See the full list here Ranking of Kenyan SACCOs on Revenue
Be ignorant and ask a few questions - Peter Drucker
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  | | Edit by user: Monday, September 01, 2014 9:33 AM | Reason: Not specified
Stract_Consulting
#7 Posted : Wednesday, September 24, 2014 5:16:16 PM
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Joined: 6/3/2014
Posts: 58
Location: Nairobi
Now, Mwalimu Sacco has set its eyes on acquiring a small bank.Talks are in place for the SACCO to acquire a majority stake in a financial institution, whose majority owner is a local business tycoon.

This is the largest SACCO in Kenya as measured by Assets, with assets worth Kshs 24.54 billion as at December 2013.

Read this daily nation story
Be ignorant and ask a few questions - Peter Drucker
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murchr
#8 Posted : Thursday, October 02, 2014 3:51:55 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Stract_Consulting wrote:
Now, Mwalimu Sacco has set its eyes on acquiring a small bank.Talks are in place for the SACCO to acquire a majority stake in a financial institution, whose majority owner is a local business tycoon.

This is the largest SACCO in Kenya as measured by Assets, with assets worth Kshs 24.54 billion as at December 2013.

Read this daily nation story


51% deal for Merali Bank put on hold
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Stract_Consulting
#9 Posted : Thursday, October 02, 2014 8:37:33 AM
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Joined: 6/3/2014
Posts: 58
Location: Nairobi
murchr wrote:

51% deal for Merali Bank put on hold


The issue of the Ministry of Industrialization and Enterprise Development raising issues of corporate governance on Equitorial Commercial Bank seems to be strange, as the bank is supervised by Central Bank of Kenya.

Otherwise the issue of seeking regulatory approval from both the Ministry and SASRA should have been done by Mwalimu.

Could anyone know who the transactional advisers for this deal are?
Be ignorant and ask a few questions - Peter Drucker
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bird_man
#10 Posted : Thursday, October 02, 2014 10:25:38 PM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
Stract_Consulting wrote:
murchr wrote:

51% deal for Merali Bank put on hold


The issue of the Ministry of Industrialization and Enterprise Development raising issues of corporate governance on Equitorial Commercial Bank seems to be strange, as the bank is supervised by Central Bank of Kenya.

Otherwise the issue of seeking regulatory approval from both the Ministry and SASRA should have been done by Mwalimu.

Could anyone know who the transactional advisers for this deal are?


They didnt get approval from the Ministry or Sasra.This is simply an attempt to fleece teachers off their money.Mwalimu has enough money to go it alone in setting up a bank.Why buy ECB?A bank that I knew one year ago was having liquidity issues?Why the funny movements of an employee who is clearly creating conflict of interest?
You make deals with Meralli,he wins big,you lose big.Simple.
Formally employed people often live their employers' dream & forget about their own.
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