Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Senators questioned Cooperative Commissioner David Obonyo over oversight failures after KUSCCO’s loan book was found overstated by more than Ksh7.6 billion. Obonyo said an inspection triggered by member complaints led to forensic investigations that pointed to alleged collusion among senior KUSCCO officials. The committee also flagged regulatory gaps, audit oversight concerns, inadequate funding and staff…
More than 60 Saccos have tasked cooperative lobbies with pushing for tax reforms after engaging KRA on sector specific tax challenges. The sector wants tax laws aligned with the member based and not for profit Sacco model, saying current rules do not reflect how cooperatives operate. The proposals now move to lobbying groups, including KUSCCO,…
Hazina Sacco has assured members their deposits remain safe and are protected under the Sacco Societies Act and SASRA regulations. The Sacco dismissed rumours that members’ savings would be used to finance the National Infrastructure Fund, urging members to remain calm. The National Treasury and State Department for Cooperatives have also denied the claims, saying…
Deputy President Kithure Kindiki has called for the deepening of ongoing reforms in Kenya’s cooperative movement, saying the changes are aimed at building institutions that are more transparent, better governed and technology-driven, as the country marked the 104th National Ushirika Day celebrations in Nairobi on Saturday. Speaking during the event, Kindiki said the sector remains…
The government has raised alarm over the rising number of Savings and Credit Cooperative Societies (Saccos) being registered in the run‑up to the 2027 General Election, warning that many are being formed with the sole intention of defrauding unsuspecting Kenyans. Cabinet Secretary for Cooperatives and MSMEs Development Wycliffe Oparanya said the ministry will tighten regulations…
Ushuru Savings and Credit Co-operative Society has written off Sh5 million tied to its investment in the troubled Kenya Union of Savings and Credit Co-operatives (KUSCCO), underscoring growing risks in the cooperative sector. The impairment, disclosed in Sacco’s latest annual report, reduced the value of its KUSCCO shares from Sh15 million to Sh10 million. The…
A government‑appointed team of experts has advised the Ministry of Co‑operatives and MSMEs Development to maintain the suspension on registering new Saccos until a stronger legal framework is established. This comes amid concerns over governance gaps, unregulated growth, and the safety of members’ deposits in Kenya’s expansive cooperative sector. The committee, formed by Cabinet Secretary…
The Cooperative Alliance of Kenya Limited (CAK) has announced a high level leadership forum aimed at strengthening strategic dialogue, peer learning, and leadership reflection within Kenya’s cooperative movement. The five day forum, scheduled to take place from April 6 to April 10, 2026, at Lake Naivasha Resort, will bring together cooperative leaders and industry experts…
The Sacco Societies Regulatory Authority (SASRA) has given the nod to more savings and credit cooperative organizations (SACCOs) to operate in Kenya, signaling continued growth in the country’s cooperative financial sector. According to Kenya Gazette Notice No. 15383 published on October 24, SASRA authorized additional SACCOs to engage in both deposit-taking and specified non-deposit-taking business…
President William Ruto has commended the cooperative sector for creating jobs, enhancing rural livelihoods, and unlocking the full potential of the country’s economic growth as he highlight key achievements in the sector through his administration. In his speech read by Prime Cabinet Secretary Musalia Mudavadi during International Cooperative Day Celebrations at KICC, Nairobi on 12th…
