The Sacco Societies Regulatory Authority (SASRA) has cautioned Kenyans to be vigilant before saving their money with Savings and Credit Cooperative Organisations (SACCOs). In a public notice issued on August 25, the regulator raised concern that some cooperatives are still operating without valid licenses, which it warned is unlawful under the Sacco Societies Act.
SASRA urged members of the public to always confirm the licensing status of a Sacco before depositing funds, noting that its website provides a published list of all approved deposit-taking and non-deposit-taking Saccos. The authority said the move is aimed at protecting Kenyans from financial losses linked to illegal operations.
At the same time, SASRA announced the opening of the renewal window for deposit-taking Sacco licenses for the year 2026. The regulator directed all such societies to submit their applications before September 30, 2025, in line with legal requirements that demand renewals be filed at least 90 days before the expiry of current licenses. Application forms, guidance notes and a checklist are available on the SASRA website to help societies comply with the process.
The authority further stated that the official list of licensed SACCOs for 2026 will be published on or before January 3, 2026. This, it explained, will help members of the public identify which institutions are authorized to carry out deposit-taking activities.
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The latest directive follows enforcement action taken earlier in the year when SASRA revoked the licenses of two Saccos for non-compliance. The regulator cited failure by the two societies to renew their licenses as required and their inability to meet member obligations. In the same gazette notice issued on January 31, SASRA confirmed that 177 Saccos had successfully renewed their licenses and were cleared to continue with operations.
The authority said the twin measures of public caution and timely license renewal are designed to strengthen transparency and accountability in the cooperative sector. For Sacco members, the advice is to confirm that an institution is licensed before committing funds. For Saccos, the message is clear: ensure applications are submitted on time to avoid penalties or possible deregistration.
By setting a clear September 30 deadline and promising to publish the updated list by January 2026, SASRA has positioned both members and cooperatives to make informed decisions. The reminder comes as part of wider efforts to secure Kenya’s fast-growing SACCO movement, which plays a central role in mobilizing savings and extending affordable credit to millions of Kenyans.
By Benedict Aoya
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