Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
KRA’s tax demand against KUSCCO has hit a legal hurdle. Fresh scrutiny of KUSCCO’s accounts could reshape the dispute. The ruling comes amid growing concerns over KUSCCO’s financial health. The Tax Appeals Tribunal has thrown out a Ksh972.9 million tax demand that the Kenya Revenue Authority (KRA) issued to the Kenya Union of Savings and…
More than 700,000 tea farmers are set to receive their annual bonus alongside September earnings. Individual factories will determine their own second-payment rates under a new approach to bonus declarations. Differences in tea prices, production costs and growing conditions continue to shape what farmers earn across regions. More than 700,000 small-scale tea farmers are due…
KUSCCO borrowers have been directed to continue servicing their loans as the liquidation process proceeds. The liquidator has invited creditors to submit formal claims for outstanding debts. Creditors who delay verifying their claims risk missing out on payments made before verification. Borrowers of the struggling Kenya Union of Savings and Credit Co-operatives (KUSCCO) must keep…
KRA has intensified its crackdown on suspected sugar smuggling following interceptions in Turkana and Kakamega counties. Multiple enforcement operations have exposed consignments allegedly moved without the required customs procedures. The tax authority has warned traders and transporters of penalties for handling uncustomed goods. The Kenya Revenue Authority (KRA) has seized about 46 tonnes of uncustomed…
Government pushes smaller Saccos towards consolidation as reforms gather pace New safeguards could change how members’ savings are protected KUSCCO’s collapse highlights wider risks facing the Sacco sector Kenya’s Savings and Credit Cooperative Society (Sacco) sector is heading for consolidation, with the government encouraging smaller societies to merge and a new law expected to cushion…
Tea farmers react to varying bonus payouts across KTDA factories East Rift factories record declines while some West Rift factories post lower returns Farmers seek explanations on tea industry performance and bonus calculations The factories that led in the tea bonus declaration, as farmers raise concerns over the reduced payment compared to the absorption rate…
A tea factory in Meru faces mounting debt and scrutiny over its operations Farmers have raised concerns over low payments and alleged leaf manipulation Regulators are tightening oversight as Parliament seeks answers on the factory’s finances The Micii Mikuru Tea Factory in Meru County owes Ksh1,126,929,425 and has been flagged for leaf falsification, a Tea…
Lending expanded across key areas of member needs Some Saccos recorded faster loan growth than others Loan performance showed signs of improvement during the year The loan portfolio of regulated Savings and Credit Cooperative Societies (SACCOS) expanded by 12.25 per cent to Ksh948.67 billion in 2025, with land and housing emerging as the largest beneficiary…
Saccos have set aside billions as losses tied to their KUSCCO investments KUSCCO is moving towards liquidation after members approved the process Sasra is strengthening digital supervision as new financial and cyber risks emerge Savings and Credit Co-operative Societies (Saccos) that had invested shares and deposits with the Kenya Union of Savings and Credit Co-operatives…
Nearly half a million new members joined regulated Saccos during the year Growing deposits and loans reflect rising demand for Sacco financial services Member protection and trust remain key as the sector expands rapidly Nearly half a million Kenyans joined regulated savings and credit co-operative societies (SACCOs) in 2025, pushing total membership to 7.875 million…
