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

Ports DT Sacco crowned best cooperative stand at ASK Mombasa show

Sacco ReviewSeptember 4, 202602 mins

Ports DT Sacco wins best cooperative stand at ASK Mombasa Show. Sacco beats other cooperatives to claim top spot. Award highlights its growth, innovation and member service. Ports DT Sacco has emerged winner of the Best Cooperative Movement Stand award at the 2026 Agricultural Society of Kenya (ASK) Mombasa International Show, marking a milestone in…

KUSCCO officially liquidated through Gazette Notice

Sacco ReviewSeptember 1, 2026September 1, 202604 mins

KUSCCO has officially been placed under liquidation. The union faces a Ksh11.6 billion financial deficit. Three officials will oversee the liquidation. KUSCCO has been placed under liquidation via Gazette Notice No. 13997, after members resolved to dissolve the union amid a Ksh 11.6 billion deficit. The Kenya Union of Savings and Credit Co-operative Societies (KUSCCO)…

KUSCCO shareholders approve dissolution, back new cooperative body

Sacco ReviewAugust 29, 202609 mins

KUSCCO shareholders have approved the union’s dissolution as debts far outweigh its assets. Members have backed a new umbrella body, KEFESCO, focused on advocacy, training, research and consultancy. A creditor has moved to court to challenge the transition, putting the new federation’s future in question. Shareholders of the Kenya Union of Savings and Credit Cooperatives…

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…

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…

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SASRA spells out how Saccos should appoint, rotate external auditors

Sacco ReviewJuly 27, 2026July 27, 202605 mins

Sacco boards must nominate at least three eligible external auditors for members to vote on during the Annual General Meeting (AGM). The selected auditor’s appointment must be submitted to SASRA within 30 days, together with certified AGM minutes. External auditors should rotate after three years unless SASRA grants a waiver, while any midterm removal requires…

Why many Saccos have cut, skipped dividend payouts

Sacco ReviewJuly 20, 202606 mins

247 Saccos cut or skipped dividends after regulators directed them to retain earnings and strengthen capital reserves. The move aims to improve liquidity, protect members’ savings and support affordable lending despite strong sector growth. Regulated Saccos grew assets to Ksh727.1 billion, while the wider sector’s assets surpassed Ksh1.2 trillion in 2025. Kenya’s Savings and Credit…

SASRA clarifies regulatory boundaries for Secondary Saccos in proposed 2025 bill

Sacco ReviewJuly 20, 202603 mins

SASRA says secondary Saccos will not offer retail services. Bill seeks to protect member savings through a Deposit Guarantee Fund. Reforms also strengthen liquidity management and interbank access The Sacco Societies Regulatory Authority (SASRA) has pushed back against widespread misinformation surrounding the proposed Sacco Societies (Amendment) Bill, 2025, clarifying that the bill will not allow…

Alarm as proposed SACCO Amendment Bill 2025 sparks fears over members’ savings

Sacco ReviewJuly 8, 202606 mins

Thousands of SACCO members across Kenya could see significant changes in how their savings are managed if the proposed SACCO Societies (Amendment) Bill, 2025 becomes law, with critics warning that some provisions may weaken member control over cooperative societies and expose savings to increased risks. The Bill, which is currently attracting debate among cooperative stakeholders,…

Governor Mutai positions cooperatives as drivers of value addition and MSME growth

Sacco ReviewJuly 6, 2026July 6, 202604 mins

Kericho County Governor Dr. Erick Mutai has identified cooperative societies as integral aspects of rural industrialization, value addition and the development of Micro, Small, and Medium Enterprises (MSMEs), positioning them as the county’s main vehicle for delivering the Bottom-Up Economic Transformation Agenda (BETA) Speaking during the International Day of Cooperatives (Ushirika Day) celebrations held at…