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Machakos finance boss back at her desk, reports Sh3.352 billion revenue haul after court ruling

Sacco ReviewJuly 14, 202603 mins

Machakos Finance CECM Catherine Mutanu resumed office after a High Court order halted her impeachment. Mutanu said county revenue rose from Ksh2.1 billion to Ksh3.352 billion in the 2025/26 financial year. She attributed delayed Assembly payments to late submission of financial requests, not her department. Machakos County Finance, Economic Planning, Revenue Management and ICT County…

National Assembly moves to calm fears over Sacco savings in proposed law

Sacco ReviewJuly 14, 2026July 14, 202607 mins

Parliament has dismissed claims that the proposed Sacco law will allow the government to access members’ savings or control Sacco management. The Bill seeks to strengthen regulation, improve financial stability and establish a secondary Sacco to provide shared services for member cooperatives. The National Assembly says the legislation is still undergoing public participation, with stakeholder…

Taita Taveta launches Gaye Rural SACCO to tackle farmers’ credit access woes

Sacco ReviewJuly 13, 202605 mins

Taita Taveta launched Gaye Rural SACCO to expand affordable credit for farmers. The SACCO will receive a Ksh3 million matching grant under NAVCDP. Leaders say the initiative will strengthen farming and boost rural incomes. Farmers in Taita Taveta County have for years turned to informal lenders and middlemen for credit, often at the cost of…

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…

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…

Family Bank secures CMA approval for NSE listing set for June 23

Sacco ReviewJune 16, 202604 mins

Family Bank has received approval from the Capital Markets Authority (CMA) to proceed with its listing on the Nairobi Securities Exchange (NSE), paving the way for the bank to offer its shares for trading on the public market. The listing, which will be undertaken through an introduction, will allow existing shareholders to trade their shares…

Govt lifts SACCO registration ban, sets Ksh 1.2M capital requirement

Sacco ReviewJune 3, 202603 mins

The Ministry of Co-operatives and MSMEs Development, through the Commissioner for Co-operatives, has lifted the suspension on the registration of new SACCO societies, effective immediately. The decision follows the completion of a review of the legislative and regulatory framework governing SACCOs by a Committee of Experts appointed by Cabinet Secretary Wycliffe Oparanya. The committee, which…

Bankers Association calls for PAYE cut as workers face growing tax pressure

Sacco ReviewMay 27, 202603 mins

The Kenya Bankers Association has raised concerns over the rising tax burden on Kenyan workers, arguing that salaried employees are currently paying higher income tax rates than companies. In a statement shared online on Monday, May 25, 2026, the association noted that Pay As You Earn (PAYE) tax stands at up to 35 per cent,…

SASRA urges SACCOs to strengthen oversight as digital financial services expand

Sacco ReviewMay 22, 202604 mins

The Sacco Societies Regulatory Authority (SASRA) has urged the Savings and Credit Cooperative Organizations (SACCOs) to strengthen oversight by reinforcing compliance, risk management, and regulatory reporting standards in the rapidly evolving digital financial services space. Speaking during a virtual sensitization forum bringing together more than 600 participants from regulated SACCOs, Acting Chief Executive Officer (CEO)…