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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…

Kenya’s SACCO sector surges past Ksh 1 trillion, CS Oparanya reveals

Sacco ReviewSeptember 25, 202507 mins

In a resounding affirmation of the cooperative movement’s vitality, Kenya’s Savings and Credit Cooperative Organizations (SACCOs) have shattered the Ksh 1 trillion barrier in total assets, cementing their status as a cornerstone of the nation’s financial ecosystem. The landmark achievement was unveiled by Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises (MSMEs), Wycliffe…

CS Kagwe launches Orthodox Tea Trading Window to boost export and production

Sacco ReviewSeptember 24, 202505 mins

Agriculture and Livestock Development Cabinet Secretary, (CS)Mutahi Kagwe has officially launched the Orthodox Tea Trading Window at the Mombasa Tea Auction, signifying the Government’s commitment to enhancing the production and export of specialty teas. The 2,925 packages, which are equivalent to 91,798 kilos of Orthodox tea is the first of many that will see tea…

CBK orders Banks and SACCOs to comply with new cyber security guidelines

Sacco ReviewSeptember 22, 202504 mins

The Central Bank of Kenya (CBK) has ordered banks and Savings And Credit Cooperative Organisations (SACCOs) to comply with new guidelines on cyber security that mandate stricter protection for financial systems in order to protect themselves against cyber insecurities. To support this, the CBK has established the Banking Sector Cybersecurity Operations Centre (BS-SOC), a hub…

KETSA calls for AI integration into SACCO operations for stronger digital governance

Sacco ReviewSeptember 19, 202508 mins

The Kenya Teachers’ Sacco Association (KETSA) has called the integration of Artificial Intelligence, (AI) into Sacco operations to strengthen digital governance and simplifies services. Speaking during the sixth annual CEO workshop in Mombasa, the forum’s Chair Joyce Ndegwa highlighted the urgency of adapting to technological shifts, strengthening Sacco member services, and innovative collaboration within the…

SASRA releases new policy to address Sacco members’ complaints

Sacco ReviewSeptember 14, 2025010 mins

The Sacco Societies Regulatory Authority (SASRA) released a new Model Complaints Handling Policy for regulated Saccos to strengthen the complaints management framework within the sector, ensuring alignment with best practices and regulatory requirements. According to SASRA the policy will provide a standardized and adaptable approach for Saccos to address member complaints effectively, transparently, and fairly….

Gov’t to buy maize directly from farmers for NSFR restocking as bumper harvest looms

Sacco ReviewSeptember 13, 202504 mins

The government will directly purchase maize from farmers to restock the National Strategic Food Reserve, (NSFR) to secure the national food security and stabilize the market. Speaking on September 11, during the official opening of the 2025 A.S.K. Central Kenya National Show at Kabiruini Showgrounds in Nyeri, Agriculture and Livestock Development Cabinet Secretary Mutahi Kagwe…

SACCOs advised to adopt sustainable reporting to tackle climate, build trust

Sacco ReviewSeptember 11, 202505 mins

Savings and Credit Cooperative Organizations (SACCOs) have been advised to adopt sustainable reporting as part of efforts to strengthen climate risk management, improve transparency, and enhance customer confidence. Speaking during the opening of one week forum on audit, governance, and risk management for cooperatives at Voi yesterday, the Cooperative Alliance of Kenya (CAK) Chief Executive…