Covid 19 Time SeriesThe Kenya Co-operative Coronavirus Response Committee (CCRC) has commissioned a study to determine the full effects of Covid-19 on the financial sector. He, however, admitted that Sacco members, who had borrowed money before Covid-19 period, were struggling to service their loans. Peter Owira from the Sacco Societies Regulatory Authority (Sasra) supervision department acknowledged that majority of Sacco members with loans were facing monumental challenges. Owira maintained that despite the current challenges in the Saccos, the liquidity was still good. CCRC is an initiative of the cooperative sector established by State Department of Cooperative and founded on the Co-operatives’ 5th Principle of Education, Information and Training.

Source: Standard Digital August 31, 2020 21:01 UTC