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.
In most organisations, employees form Saccos with the help of the employer as a savings platform. [Courtesy]
Saccos are seeking ways to bypass employers in the remittance of members' deductions, with the latest industry report by the regulator showing they are now owed a whopping Sh3.4 billion.
By acquiring licences to offer front office services (Fosa), large Saccos believe it will give them the capacity to deduct members' contributions and loan repayments directly.
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