Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Credence Africa Executive Director Muthoni Njoroge, has called for a review of the Sacco Societies (Amendment) Bill, 2025, to ensure that SACCOs fully benefit from the proposed Deposit Guarantee Fund (DGF), rather than receiving compensation through a fixed percentage. Speaking at the Cooperative Expo 2026 at Uhuru Park, Nairobi; Muthoni highlighted that the DGF, which…
Ufundi Savings and Credit Cooperative Society (Sacco) has announced plans to sell its landmark Co-op Plaza building located at the intersection of Moi Avenue and Moktar Daddah Street in Nairobi’s Central Business District. The property, which stands on a 0.0546-hectare parcel of land, comprises 13 floors and three basement levels, offering approximately 49,000 square feet…
Kenya’s cooperative regulator has issued its starkest warning yet to non-withdrawable deposit-taking savings societies, telling their leadership that structural reform and professional governance are no longer optional as the sector steers towards a new legislative framework. The Sacco Societies Regulatory Authority (SASRA) convened its inaugural Regulatory Round Table for Non-Withdrawable Deposit-Taking (NWDT) SACCOs on April…
Insider loans are emerging as a growing threat to the stability of co-operatives, with recent disclosures showing how senior officials in some savings societies have borrowed heavily against member funds and later defaulted, exposing governance gaps and weak credit risk controls. The concern is now gaining urgency across the sector as new audit findings and…
The State Department for East African Community (EAC) Affairs has urged the National Assembly to fast-track amendments to Kenya’s tax laws to align them with regional frameworks, warning that failure to do so could trigger retaliatory trade measures from neighbouring countries. Appearing before the National Assembly’s Departmental Committee on Finance and National Planning, Principal Secretary…
Detectives from Directorate of Criminal Investigations (DCI) have arrested three individuals suspected of orchestrating a sophisticated fraud scheme that siphoned over Ksh22.4 million from a local savings and credit cooperative society (SACCO). Investigations revealed a complex network in which the suspects exploited the SACCO’s computerized financial systems to illegally transfer funds for personal gain. At…
The Affordable Housing Fund Board has urged Parliament to grant the Kenya Revenue Authority (KRA) stronger enforcement powers to tackle evasion of the 1.5 per cent housing levy, warning that gaps in the current legal framework undermine compliance and limit revenue collection. Appearing before the National Assembly Departmental Committee on Finance and National Planning during…
The government is intensifying efforts to shift the tea industry from bulk exports of raw produce to higher‑value processed and branded products, even as political and legislative hurdles threaten to slow the pace of reform. Speaking at the China‑Africa Forum on Agritech and Industrial Cooperation in Nairobi, Tea Board of Kenya (TBK) Chief Executive Officer…
The Central Bank of Kenya (CBK) has opened bidding for two reopened fixed-coupon Treasury bonds with a combined value of Ksh60 billion, offering Kenyans, including Sacco members and individual investors, an opportunity to earn stable long-term returns with a minimum investment of Ksh 50,000. The bonds, issued under prospectus numbers FXD1/2018/020 and FXD1/2021/025, carry coupon…
Kenya has surpassed Egypt to become the largest producer of milk in Africa, according to Principal Secretary for Livestock Production Jonathan Mueke. Speaking in an interview with NTV, Mueke revealed that Kenya’s milk output has risen from 4.6 billion litres to 5.4 billion litres, placing the country ahead of Egypt in continental rankings. “We always…
