Kenya’s Top Commercial Banks Take Home Billions in Profits

The huge profits made by Kenya’s banks demonstrate the portability of investments in the financial sector. Many Kenyans are however critical of the huge profits, attributing them to what they see as the banks’ policy of fleecing their clients. They point to the minimal interest rates paid by the banks to those saving money with them and the high interest rates paid by those who take loans from them.

How Commercial Banks Inept Policies Helped Savings and Credit Societies to Grow

The year 1997 will always remain an important one in the history of Kenya’s savings and credit cooperative movement. That year commercial banks arrogantly closed out of their banking services, a large number of savings and credit cooperatives (saccos) members by raising their minimum balances and account running expenses way out of the reach of the average Kenyan wage earner. That single action spurred saccos to transform themselves into micro-banks.

The Growing Power of Savings and Credit Cooperative Societies in Kenya

Will savings and credit cooperative societies eventually phase out banks? This is the question that many experts in the banking industry are grappling with as they watch the growing power and spread of savings and credit cooperative societies.

Management Success Secrets of Kenya’s Cooperative Movement

Many readers have written to us requesting information on Kenya’s very successful cooperative movement. We have tried, as much as possible, to answer individual questions. However, one of the best ways to answer such questions is through a detailed study of the movement. In this respect, Investment News Kenya is publishing an e-book titled, Management Success Secrets of Kenya’s Cooperative Movement – a series of conversations between Investment News Kenya Editor, Emma Muli and managers of the top cooperatives in Kenya.