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National Assembly dismisses misinformation on Sacco Amendment Bill, says legislation still open for public input

Sacco ReviewJuly 11, 202606 mins

The National Assembly has dismissed what it called widespread misinformation surrounding the proposed Sacco Societies (Amendment) Bill, 2025, saying claims that the legislation would create a government controlled “super Sacco” or hand the President power over Sacco leadership are false. In a public statement, the Assembly said the Bill, which seeks to amend the Sacco…

World Bank injects Sh42B into urban projects as Kisumu launches Sh306M transit upgrades

Sacco ReviewJuly 11, 2026July 11, 202606 mins

The World Bank, through the second phase of the Kenya Urban Support Program (KUSP II), has committed Ksh42 billion ($350 million) to the Government of Kenya to strengthen the capacities of 79 cities and municipalities across the country. Housing and Urban Development Principal Secretary (PS) Charles Hinga Mwaura announced that the program, which commenced in…

Kenyans receiving services at the Kenya Revenue Authority headquarters. PHOTO/KRA

KRA falls short of 2025/2026 revenue target despite double-digit growth

Sacco ReviewJuly 10, 202605 mins

The Kenya Revenue Authority (KRA) missed its revenue collection target for the 2025/2026 financial year, falling short by KSh 124 billion. The taxman collected KSh 2.844 trillion against a target of KSh 2.968 trillion, a deficit of 4.2 percent. Despite the miss, the performance marks a 10.6 percent improvement over the 2024/2025 financial year, when…

CAK reassures public over false infrastructure funding reports

Sacco ReviewJuly 10, 202604 mins

CAK dismisses claims that the government plans to use Sacco savings to fund infrastructure projects. Cooperative apex body says the proposed Sacco law contains no provisions allowing members’ funds to be diverted to the National Infrastructure Fund. The Cooperative Alliance of Kenya (CAK) has refuted claims that the government plans to raid Sacco funds to…

Treasury CS unveils new tax filing deadlines for PAYE employees, nil return filers

Sacco ReviewJuly 2, 202604 mins

National Treasury Cabinet Secretary John Mbadi has announced new tax filing reforms targeting individual taxpayers and nil return filers in a bid to ease pressure on the Kenya Revenue Authority (KRA) online portal during the annual tax compliance period. The changes follow the congestion experienced on the KRA system ahead of the June 30, 2026…

MPs call for stronger protection for SACCOs savings as Amendment Bill comes under scrutiny

Sacco ReviewJuly 1, 202604 mins

Members of the National Assembly Departmental Committee on Trade, Industry and Cooperatives have called for the inclusion of stronger safeguards in the proposed Savings and Credit Cooperative Societies (SACCOs) legislation, saying the law should better protect members’ savings while promoting accountability and efficiency without imposing excessive bureaucratic requirements. The committee, chaired by Bernard Shinali, met…

KETSA launches Alternative Investment Fund to unlock new growth for teacher SACCOs

Sacco ReviewJune 28, 2026June 28, 202604 mins

The Kenya Teachers SACCO Association (KETSA) has officially launched the KETSA Alternative Investment Fund (AIF), marking a major milestone in the transformation of Kenya’s cooperative movement and opening a new investment avenue for teacher-based Savings and Credit Cooperative Societies (SACCOs). The launch, held during the Association’s annual conference, brings to fruition a fund that has…

Finance Act 2026 exempts SACCOs, banks from VAT on repossessed collateral sales

Sacco ReviewJune 27, 202604 mins

Savings and Credit Cooperative Organizations (SACCOs), banks, and other financial institutions will no longer pay Value Added Tax (VAT) on the sale or disposal of repossessed collateral, following amendments introduced in the Finance Act 2026, which was signed into law by President William Ruto on June 23, 2026. This amendment marks a significant shift in…

Oparanya urges SASRA to strengthen institutional capacity, embrace technology

Sacco ReviewJune 25, 202604 mins

Cabinet Secretary for Cooperatives and Micro, Small and Medium Enterprises (MSMEs) Development, Wycliffe Oparanya, has urged the Sacco Societies Regulatory Authority (SASRA) to strengthen its institutional capacity, embrace technology, and prepare for the proposed expansion of its regulatory mandate to enhance oversight of the cooperative financial sector. Oparanya made the remarks during a Board and…

Glimmer of Hope as Government Orders Probe into Metropolitan National SACCO

Sacco ReviewJune 20, 202607 mins

For thousands of members of Metropolitan National Savings and Credit Co-operative Society (SACCO), the publication of Kenya Gazette Notice No. 8932 was more than a routine government announcement. It was a moment of relief, celebration, and renewed hope that their cries had finally reached the ears of regulators. Across Nairobi and its outskirts, members interviewed…