BOSA – Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

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…

SASRA flags Ksh3.49 Billion Non-Remittance crisis, warns of looming SACCO instability

Sacco ReviewSeptember 26, 202504 mins

The SACCO Societies Regulatory Authority (SASRA) has sounded the alarm over a deepening non-remittance crisis that threatens the financial stability of Kenya’s regulated SACCOs. In its SACCO Supervision Annual Report 2024, the regulator revealed that employer institutions, many of them government-linked have failed to remit over Ksh 3.49 billion in member deductions, up from Ksh…

Afya Sacco in crisis as SASRA probes KSh550 million misappropriation

Sacco ReviewAugust 14, 202504 mins

The Sacco Societies Regulatory Authority (SASRA) has launched a recovery effort targeting over KSh550 million allegedly misappropriated by the management of Afya Sacco Society Ltd. The regulator’s intervention follows a damning inspection report that uncovered a trail of unaccounted withdrawals, excessive allowances, and undocumented cash transactions spanning more than two years. According to a letter…

Sukari Sacco hosts AGM, hopeful to resume normal operations

Sacco ReviewSeptember 19, 2023September 19, 202302 mins

Sukari Sacco recently held its Annual General Meeting. Sacco Chairman Boniface Omondi urged members to remain united for the sake of their esteemed Sacco. He noted that though it’s been a while since they held an AGM, he urged members to be confident that the Sacco is headed in the right direction. Omondi noted that…

Mwito DT Sacco founding member passes on

Sacco ReviewAugust 24, 2023August 24, 202302 mins

Mwito Deposit Taking Sacco Society Limited is grieving the loss of its founding member Peter Kariuki Ng’ang’a, which occurred on August 19, 2023. The burial will be held on Friday, August 25, 2023 at 9.00 am at his home in Kariua Village, Kandara Sub-County, Murang’a County. The deceased has seen the Society grow from a…