The Standard Group Plc is a multi-media organization with investments in media
platforms spanning newspaper print
operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a
leading multi-media house in Kenya with a key influence in matters of national
and international interest.
Are you a member of a Savings and Credit Co-operative Society (sacco)? If so, has your sacco ever rejected your loan application due to a bad credit rating by a Credit Reference Bureau (CRB)? The probable answer is no.
It happens that saccos are not so enthusiastic when it comes to exchange of credit information. It may be because of the friendly relationship they have with their members or the fear of reduced profits due to less borrowing if they do.
This has been detailed in the latest sector report by the regulator, Sacco and Cooperative Societies Authority (Sasra). The report covers the industry performance for 2021.
Facts First
This story continues on The Standard INSiDER. Subscribe now for unfiltered journalism that holds power to account.
Already have an account? Login
join