Legislation - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

MP Buyu proposes microfinance bill to cap interest rates

Sacco ReviewAugust 14, 202605 mins

Rozaah Buyu proposes a bill to protect borrowers from predatory microfinance lending. The bill seeks to cap interest rates and curb unfair debt recovery practices. Non-compliant lenders could face penalties or licence revocation. Kisumu West MP Rozaah Buyu has written to the Speaker of the National Assembly proposing a bill that would tighten protections for…

Senate grills Obonyo over KUSCCO oversight failures

Sacco ReviewAugust 10, 202606 mins

Senators questioned Cooperative Commissioner David Obonyo over oversight failures after KUSCCO’s loan book was found overstated by more than Ksh7.6 billion. Obonyo said an inspection triggered by member complaints led to forensic investigations that pointed to alleged collusion among senior KUSCCO officials. The committee also flagged regulatory gaps, audit oversight concerns, inadequate funding and staff…

MPs push for interest cap on Sacco loans under in duplum rule

Sacco ReviewAugust 7, 2026August 7, 202606 mins

MPs have backed a proposal to extend the in duplum rule to Saccos, digital lenders and microfinance institutions, though Parliament has not yet passed the change. The proposal would cap interest on defaulted loans at the outstanding principal, protecting borrowers from excessive charges. If approved by Parliament, the amendment would extend protections currently available only…

MPs raise alarm over CBK’s proposed new bank levy

Sacco ReviewJuly 31, 202609 mins

MPs have raised concerns that a proposed Central Bank of Kenya levy on banks could lead to higher banking charges and loan costs for customers. The proposal would replace the current fixed annual fee with a levy of 0.15 per cent of a bank’s gross annual revenue. Lawmakers questioned the levy’s legal basis, penalty provisions…

Turkana County strengthens ties with development partners through new MoU

Sacco ReviewJuly 13, 202605 mins

Turkana County signed an MoU with TDT and Cavalry Development Organization to better coordinate development projects. Deputy Governor Dr. John Erus said the partnership will align donor programs with county priorities and reduce duplication. The two organizations said the MoU strengthens their role in supporting development across key sectors. County Government of Turkana has strengthened…

National Assembly passes Finance Bill 2026, awaits presidential assent

Sacco ReviewJune 19, 202603 mins

The National Assembly has approved the Finance Bill 2026, clearing the way for the government to raise revenue for the Sh4.8 trillion budget in the 2026/27 fiscal year. The Bill sailed through its Third Reading on Thursday evening, June 18, 2026, after 122 Members of Parliament voted in favour, against 40 opposed, with no abstentions…

EAC Affairs PS Dr. Caroline Karugu (centre) before National Assembly’s Departmental Committee on Finance and National Planning. Photo Courtesy.jpg

EAC affairs PS urges parliament to amend tax laws to align with EAC partner states

Sacco ReviewJune 11, 202606 mins

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…

Govt withdraws application to review electricity tariffs, current tariffs to remain

Sacco ReviewJune 3, 202603 mins

The Ministry of Energy and Petroleum has withdrawn an application seeking a review of retail electricity tariffs, citing the need to balance the sustainability of the energy sector with consumer protection. announced the decision at a press briefing at Kawi House, Nairobi, on Wednesday. He explained that the move followed extensive consultations within government and…

CS Oparanya unveils Deposit Guarantee Fund in SACCO sector shake-up

Sacco ReviewApril 15, 2026April 15, 202604 mins

Cabinet Secretary for Cooperatives and SMEs, Wycliffe Oparanya, has announced the introduction of a Deposit Guarantee Fund aimed at protecting members’ savings in SACCOs in the event of a SACCO collapse. Oparanya assured members that their deposits would be safeguarded, ensuring that they can recover their money even if their SACCOs fail. Speaking about the…

Meru Governor assents to Miraa Promotion Act, declares war on miraa cartels, speeding vehicles

Sacco ReviewJanuary 29, 202607 mins

Meru Governor Isaac Mutuma has declared war on miraa cartels and speeding drivers after assenting to the Meru County Miraa Promotion Act, 2025 that enables the devolved unit to enforce miraa regulations. According to Governor Mutuma, the law will smoke out shadowy miraa exporters and cartels believed to be strangling farmers’ earnings. Under the new…