The Sacco Societies Regulatory Authority (SASRA) Chief Executive Officer, David Sandagi, has outlined major reforms aimed at strengthening Kenya’s cooperative sector during a high-level panel discussion at the 4th Annual Cooperative Movement Stakeholders’ Forum held at Lake Naivasha Resort.
The forum, themed “Shaping the Future of Co-operatives: Leadership, Innovation and Sustainable Growth,” brought together cooperative leaders, policymakers, and industry practitioners to explore emerging trends and opportunities within the SACCO ecosystem.
Addressing participants, Sandagi reaffirmed SASRA’s commitment to improving regulatory standards, enhancing professionalism, and bolstering governance frameworks across the SACCO industry. He noted that a transparent and robust regulatory environment remains central to the success of Kenya’s Bottom-Up Economic Transformation Agenda (BeTA), particularly given the sector’s role in advancing financial inclusion.
Sandagi welcomed the progress of the Cooperative Bill, now at the mediation stage, saying the legislation is expected to align the cooperative legal framework with the Constitution and clearly outline the roles of National and County Governments in cooperative development.
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He also highlighted the significance of ongoing amendments to the Sacco Societies Act, which will extend SASRA’s oversight to all SACCOs nationwide—a move he said will promote greater stability and accountability within the sector.
Once enacted, the reforms will enable SASRA to implement stronger compliance measures, including the vetting of senior SACCO officials to determine their suitability for leadership positions. This, Sandagi said, will help address persistent governance challenges such as the non-remittance of member contributions and improve integrity across the cooperative movement.
SASRA reaffirmed its commitment to working closely with sector stakeholders to foster a transparent, resilient, and globally competitive SACCO industry that supports sustainable growth and shared prosperity for all Kenyans.
By Obegi Malack
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