The Nation of SACCOs

Saving and credit coorperative societies(SACCOs) äre associations of people who have come together with common goals geared at improving their livelihood economically.kenyan saccos are ranked highly globaly positioned at number one in Africa. they have almost 6000 registered saccos in kenya which they operate under FOSA(they accepted the depositing of funds).majority of members of saccos are farmers and teachers .it is formed through coming together of groups with common interest.Sacco members do not need stringent conditions like having a credit history to join or to access credit unlike banks. CHALLANGES FACING SACCOS 1.low uptake of information technology 2.they have low level of professional skills. 3.they have weak governance. 4.stive competition from banks that view them as competitors. Saccos are among key pillars that are drive the economy of kenya its emboded into vision 2030.the vision that want to see kenya as developed country by the year 2030 .