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What are problems facing the savings and credit cooperative societies in Kenya?

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Problems facing the savings and credit cooperative societies in Kenya are;

  • Loan defaulting by members as some leave employment due to terminal illness, sacking and personal reasons.
  • Lack of management skills among members leading to poor management of societies.
  • Corruption and embezzlement of funds by official
  • Poor investment decisions by some officials leading to losses.
  • Stiff competition from commercial banks and micro financial institutions.
  • Late remittance of members contributions by employers.
  • High demand for loans against the receipts from monthly contributions.
  • Retrenchment of workers by both government and private sector has led to financial problems to the society.
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