The government, through the Sacco Societies Regulatory Authority (SASRA), has directed all Savings and Credit Cooperative Organisations (SACCOs) to submit their audited financial statements by March 15, 2026, as part of regulatory compliance measures.
In a notice issued on January 9, SASRA said the submission window will run from January 1 to March 15, 2026, in line with Section 41 of the SACCO Societies Act. The directive applies to all regulated SACCOs across the country.
The regulator noted that the timeline is intended to allow sufficient time for the review and approval of audited accounts by March 31, 2026, ahead of SACCOs’ Annual General Meetings (AGMs). Early submission, SASRA said, will help ensure smooth approval processes and avoid delays that could disrupt scheduled AGMs.
SASRA further clarified that all regulatory approvals, including the approval of audited financial statements, are provided free of charge. The clarification comes amid concerns from some stakeholders over possible regulatory fees.
ALSO READ:
Banks and SACCOs push Treasury to ease PAYE, raise tax‑free threshold to KSh40,000
The authority urged SACCO boards, supervisory committees, management teams and auditors to prioritize early submission of the documents to avoid last minute congestion and compliance challenges. It reaffirmed its commitment to supporting the growth, stability and sustainability of the cooperative sector.
SASRA also encouraged SACCO officials and auditors seeking clarification to use its official communication channels, including the toll-free number 0800 724 422 and its official email address.
Under the law, SACCOs are required to submit audited financial statements to enable regulatory oversight and safeguard members’ deposits. The audits are meant to confirm that members’ savings are properly accounted for, assess the financial health of the institutions and detect any cases of misappropriation or financial mismanagement.
SACCOs that fail to submit their audited financial statements within the stipulated period will be classified as non-compliant and may face penalties as provided for under the SACCO Societies Act.
By Benedict Aoya
Get more stories from our website:Sacco Review.
For comments and clarifications, write to:Â Saccoreview@
Kindly follow us via our social media pages on Facebook:Sacco Review Newspaperfor timely updates
Stay ahead of the pack! Grab the latest Sacco Review newspaper!
