Microfinance services Micro finance Services refer mainly to small loans; savings mobilization and training in micro enterprise investment services extended to poor people to enable them undertake self employment projects that generate income (Onuaman, 2002). Micro finance came into being from the appreciation that micro entrepreneurs and some poorer clients can be ‘bankable’, that is,…
Business & Finance
How SACCOs in Kenya Work A Savings And Credit Co-Operative (SACCO) is an association of like minded individuals, registered under the Ministry of Ministry of Cooperative Development & Marketing in Kenya, and authorized to take deposits from and lend to it’s members. SACCOs are governed by the SACCO bylaws which state the objectives, membership, share capital, organization structure, management…
An interest rate is the percentage of principal charged by the lender for the use of its money. The principal is the amount of money loaned. Interest rates affect the cost of loans. As a result, they can speed up or slow down the economy. The Federal Reserve manages interest rates to achieve ideal economic growth. What…
Kenya is a leading country in the global Sacco movement with Saccos being key players in the country’s financial industry. With the Sacco movement expanding, it creates a need to have a Sacco account in Kenya to avoid missing its benefits. Saccos are Savings and Credit Cooperative Societies formed by members with a specific common…