By Malachi Motano
The Sacco Societies Regulatory Authority (SASRA) Board has today confirmed the appointment of Peter Njuguna as the Authority’s Chief Executive Officer (CEO), effective immediately.
Mr Njuguna has been acting as the SASRA CEO since April 2021 when John Mwaka exited the authority upon the expiry of his term.
The new CEO brings on board 20 years of diverse and rich professional experience in Kenya’s financial sectors, both in the market and regulatory space. Since June 2010, Njuguna has been leading the supervision team at SASRA in formulating and implementing the regulatory supervisory strategy towards a safe and sound Sacco subsector in Kenya.
Before joining SASRA in 2010, Njuguna worked with the World Council of Credit Unions’ (WOCCU) in Kenya where he was extensively involved in developing the management and technical capacity of Saccos.
In 2019, Njuguna was the convener of the Task Force appointed by the Cabinet Secretary responsible for Cooperatives in Kenya to develop the regulations for the non-deposit taking Sacco societies which were published in May 2020. Currently, he is part of SASRA’s team leading the project on a shared technology platform for Saccos. This initiative is supported by the Government of Kenya and the World Bank to address policy and market challenges that undermine the financial stability and competitiveness of the Sacco industry.
While congratulating Mr Njuguna on his appointment, SASRA Chairman Mr John Munuve said: “Njuguna’s appointment is part of a broader strengthening of the Authority’s operational and service excellence, aligned to its strategic transformation plan. I’m extremely pleased with his approval and appointment by the Cabinet Secretary, Mr Peter Munya in consultation with the Board. He has distinguished himself as an exceptional leader with a proven track record. The Board thanks all our stakeholders for the support and we are confident that he will steer the Authority to the next level.”
In his previous roles, Mr Njuguna served as a member of the Technical Committee of Kenya’s Joint Financial Sector Regulators Forum (JFSR) which brings together the Central Bank of Kenya and the Regulators for SACCOs. Njuguna’s academic qualifications include a Master of Science in Management Science from the London School of Economics in the UK and a Bachelor of Science in Mathematics from the University of Nairobi, Kenya. He is also an accountant and a member of the Institute of Certified Public Accountants of Kenya (ICPAK).
