Cooperative Sector - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

ACCOSCA seeks deeper partnerships to strengthen Sacco sector

Sacco ReviewAugust 27, 202605 mins

ACCOSCA is seeking stronger partnerships to build trust and advance SACCO development across Africa. The organisation says collaboration with regulators, government and media can strengthen cooperative institutions and policy engagement. Stakeholders have called for stronger cross border cooperation as African economies become more interconnected. The African Confederation of Cooperative Savings and Credit Associations (ACCOSCA) is…

KUSCCO set for restructuring as government moves to overhaul union

Sacco ReviewAugust 24, 2026September 5, 202604 mins

KUSCCO set for rebranding as KEFESCO under restructuring plan Government moves to address union’s financial crisis Shareholders to discuss KUSCCO’s future on August 28 The Government is planning to rename the Kenya Union of Savings and Credit Cooperatives (KUSCCO) to the Kenya Federation of Savings and Credit Cooperatives (KEFESCO) as part of efforts to restructure…

Metropolitan Sacco faces collapse after fresh insolvency inquiry

Sacco ReviewAugust 21, 202603 mins

Metropolitan Sacco faces possible winding up after a fresh inquiry found continued financial distress. Authorities are weighing three options as members seek access to their savings. Nearly all of the Sacco’s loan book was reportedly in default, deepening concerns over its survival. The government is considering winding up Metropolitan Sacco after a fresh inquiry found…

Forward Travellers Sacco hosts MSL Sacco for benchmarking visit

Sacco ReviewAugust 21, 202602 mins

Forward Travellers Sacco has hosted MSL Sacco for a corporate-to-corporate benchmarking visit, bringing the two institutions together to exchange ideas on strengthening Sacco operations. The engagement gave both Saccos an opportunity to share best practices in operations, service delivery, governance, member engagement and business growth. According to Forward Travellers Sacco, the benchmarking exercise is aimed…

Senate grills Obonyo over KUSCCO oversight failures

Sacco ReviewAugust 10, 202606 mins

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…

Over 60 Saccos rally lobbies to push for tax reforms

Sacco ReviewAugust 5, 202605 mins

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 assures members their deposits remain safe amid infrastructure fund rumours

Sacco ReviewJuly 16, 202605 mins

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…

Kindiki roots for deeper Cooperative reforms as Kenya marks 104th Ushirika Day

Sacco ReviewJuly 4, 2026July 4, 202604 mins

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…

Government warns against fraudulent Saccos formed ahead of 2027 polls

Sacco ReviewJune 13, 202604 mins

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 Sacco writes off sh5 million in KUSCCO exposure amid sector risks

Sacco ReviewMarch 20, 202603 mins

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…