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MPs rejects new policy on women empowerment says it undermines existing institutions

Sacco ReviewOctober 1, 2025October 1, 202504 mins

The National Assembly Committee on Social Protection has rejected the proposed National Policy for Women’s Economic Empowerment, citing a lack of clear implementation structures and concerns over duplication of the constitutional mandate held by the 47 Women Representatives. The policy, developed by the State Department for Gender and Affirmative Action under the Ministry of Gender,…

End of an Era: Moi University Sacco placed under liquidation

Sacco ReviewSeptember 30, 202502 mins

Moi University Savings and Credit Society (MUSCO) has been placed under liquidation, with two officials appointed to oversee the process. The two officials to oversee the process are, Kennedy A. Emali, Nairobi Principal Cooperative Auditor, and Druscillah Jebet Cherogony, Uasin Gishu Principal Cooperative Officer who will serve as joint liquidators tasked with managing assets, raising…

Coop tribunal to punish errant employers hoarding SACCO cash in the new Bill

Sacco ReviewSeptember 30, 202508 mins

The Cooperatives Bill, which is about to become law has put errant employers sitting on huge sums of cash in the form of remittance deductions meant for SACCOs, now estimated at Ksh 3.5 billion at unease state. The Cooperative Bill 2024, published as the National Assembly Bill No. 7 of 2024 on 9th February 2024, has…

35 SACCOs risk sanctions as SASRA heightens Anti-Money Laundering crackdown

Sacco ReviewSeptember 30, 202503 mins

Thirty-five savings and credit cooperatives (SACCOs) are staring at possible sanctions after failing to register with the Financial Reporting Centre (FRC) as required under new anti-money laundering regulations. This was revealed by SASRA adding that the stated saccos had not fully registered as reporting institutions mainly on the grounds that they had submitted incomplete applications,…

Gov’t to establish a shared technological service platform for Small SACCOs

Sacco ReviewSeptember 30, 202504 mins

The government is planning to review the SACCO Societies Act and the regulations to explore ways of coming up with a shared technological services platform for all small cooperatives entities. This was announced by the Cooperatives and MSME Cabinet Secretary, Wycliffe Oparanya announced that a committee of experts has been set to review related acts…

KUSCCO announces strategic measures towards financial stability

Sacco ReviewSeptember 29, 202506 mins

Kenya Union of Savings and Credit Cooperatives, (KUSCCO) has announces various strategic measures to support its financial stability, strengthen cash flow and improve operational efficiency. According to the circular dated September 22, signed by the Group Managing Director Arnold Munene, and directed to all KUSCCO member SACCOs chairpersons, the union outlined various strategies which include:…

Pyrethrum Processing Company gets new acting CEO

Sacco ReviewSeptember 29, 202503 mins

The Ministry of Agriculture and Livestock Development has appointed Njoroge Wachira as the Acting Chief Executive Officer of the Pyrethrum Processing Company of Kenya (PPCK), marking a key leadership transition aimed at revitalizing the country’s once-thriving pyrethrum sector. The announcement was made during a Board meeting presided over by Principal Secretary for Agriculture, Dr. Kipronoh…

Corporate entities urged to invest in cyber security amid rise in threats

Sacco ReviewSeptember 29, 202505 mins

Corporate entities and institutions across the country have been urged to invest in cyber security to cushion them against rising cyber-attacks. Stakeholders aver that cyber security is imperative in protecting sensitive data, ensuring continuous operations, complying with regulations, maintaining a strong reputation and gaining a competitive edge in the landscape. Margaret Kinyanjui, the Principal College…

CS Oparanya bans use of loans to pay dividends to SACCO members

Sacco ReviewSeptember 28, 202504 mins

Cabinet Secretary for Co-operative and MSMEs, Wycliffe Oparanya has declared a suspension on new registrations and banned the use of loans to pay dividends to Sacco members. Speaking during the 34th Special General Meeting of Unaitas Sacco in Nairobi, CS Oparanya said the move is part of a stringent crackdown on poorly managed savings and…

Small-sized SACCOs to merge to enhance oversight, stability; CS Oparanya reveals

Sacco ReviewSeptember 28, 202504 mins

Small-sized Saccos with deposits of below Ksh 100 Million will be merged with the larger ones, this is in line with the Ministry of Co-operatives guidelines which aim to tighten supervision of thousands of co-operatives spread across the country with thin capital and deposit bases. Speaking during the Sacco Supervision Annual Report 2024, Co-operatives Cabinet…