SASRA suspends 5 SACCOs from receiving deposits due to unrenewed license

The Sacco Societies Regulatory Authority (SASRA) has suspended five SACCOs from receiving deposits, allowing them to operate under restricted credit-only permits.

According to the Authority, those affected by the measures include Dumisha SACCO Society Ltd, Bi-High SACCO Society Ltd, Metropolitan National SACCO Society Ltd, Ol’Kaunsel Regulated Non-WDT SACCO Society Ltd, and Digital Media Regulated Non-WDT SACCO Society Ltd.

“These five SACCOs are locked out of the deposit-taking business and will now only provide credit to members.” SASRA said.

In the past, SASRA has taken the route of revoking the permits of the SACCOs that fail to meet the minimum statutory requirements, including SACCOs whose officials have been implicated in theft of Society funds.

Last year, SASRA revoked the permits of two Nairobi-based SACCOs namely B-SMART Sacco Society Limited and Multiple Sacco Society Limited.

The reasons for these revocations, according to the regulator, were failure by both entities to apply for renewal of the authorization and their inability to meet members and compliance obligations.

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According to a Gazette Notice dated January 28, 2026, SASRA has issued licenses to 176 SACCOs to conduct deposit-taking SACCO business for the period from January 1 to December 31 2026. This is compared to last year when the regulator gave permits to 178 SACCOs to engage in deposit-taking business, and 176 SACCOs in 2024.

Nufaika Sacco Society, based in Kerugoya, Kirinyaga County and PESA Sacco Society have dropped from the 2015 list, after Nufaika merged with Fortune Sacco and PESA failed to apply for licence renewal by December 31, 2025,

SASRA said Nufaika Sacco Society Ltd voluntarily ceased deposit-taking business after merging its membership with Fortune Regulated SACCO Society, also based in Kerugoya. It is therefore no longer authorised to operate as an individual entity since its licence expired on December 31.

This comes amid the Authority’s push for the merger of smaller SACCOs that have no financial muscle to keep up with the stiff competition or meet minimum licensing requirements.

By Our

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