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

SACCOs overtake banks in affordable loans amid overstretched liquidity

Sacco ReviewOctober 3, 202504 mins

Kenya’s deposit-taking Saccos have overtaken banks in the affordable loans issuance even though its resources remain overstretched. According to Sacco Societies Regulatory Authority, (SASRA), loans issued to members surpassed deposits by Ksh92.2 billion in 2024, the highest on record. The trend demonstrates the growing reliance on co-operatives for affordable borrowing in a climate of high…

Kenya’s Cooperative sector reels from Ksh3.49 Billion remittance crisis

Sacco ReviewOctober 2, 2025October 2, 202505 mins

Kenya’s cooperative banking sector, a cornerstone of financial inclusion for millions, is grappling with a deepening liquidity crisis, according to the Sacco Societies Regulatory Authority (SASRA) 2024 Supervision Report, released recently by Cabinet Secretary for Cooperatives and MSMEs Wycliffe Oparanya. The report has exposes a staggering Ksh3.49 billion in unpaid salary deductions owed to 85…

Kenyan MPs’ Sacco loan defaults hit Ksh939 Million mark

Sacco ReviewOctober 2, 202508 mins

In a stunning revelation that exposes the gaping chasm between Kenya’s political elite and the everyday struggles of ordinary citizens, Members of Parliament, MPs have emerged as the top defaulters in the country’s Savings and Credit Cooperative (Sacco) sector, racking up nearly Ksh1 billion in unpaid loans by the end of 2024. According to the…

SACCOs in Kenya report surge in transaction value

Sacco ReviewOctober 1, 202506 mins

Kenya’s Savings and Credit Cooperative Societies (SACCOs) have recorded a significant increase in the value of transactions processed through their agent networks in 2024, even as the total number of transactions saw a slight decline, according to the latest industry data. The volume of transactions handled by SACCO agents rose to Ksh31.65 billion in 2024,…

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…

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,…

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…

Matatu SACCOs risk shut down as CS Oparanya orders for review

Sacco ReviewSeptember 25, 202505 mins

Cabinet Secretary (CS) for Co-operatives and MSMEs Development, Wycliffe Oparanya, has raised concerns over the misclassification of Transport Cooperatives as Savings and Credit Cooperative Societies (SACCOs), urging for a comprehensive review of their structure and regulatory oversight. Speaking during the official release of the Sacco Supervision Annual Report 2024, Oparanya noted that several entities operating…

CS Oparanya calls for strict oversight of audited SACCO accounts to boost accountability

Sacco ReviewSeptember 25, 202503 mins

The Co-operatives and MSMEs Development Cabinet Secretary, CS Wycliffe Oparanya have called for financial accountability, directing Sacco Societies Regulatory Authority (SASRA) and the Commissioner of Cooperatives to enforce strict oversight of audited SACCO accounts. Speaking during the SACCO Supervision Annual Report 2024 launch in Nairobi, CS Oparanya said such reforms is aimed at tightening financial…