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…
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…
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 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…
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,…
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…
Cabinet Secretary (CS) for Cooperatives and MSMEs Development Dr. Wycliffe Oparanya has reaffirmed the government’s commitment to strengthening Kenya’s cooperative movement, as the country marked the 104th Ushirika Day celebrations at Uhuru Park, Nairobi County, under the global theme “Cooperatives for a Peaceful World.” Speaking at the event, Oparanya said the occasion reaffirmed the vital…
CS Oparanya has urged financial institutions to design products around the realities of farming, recognizing alternative forms of security while aligning repayment schedules with production cycles. The government has moved to place cooperative societies at the centre of its plan to widen smallholder farmers’ access to affordable credit and speed up the transformation of Kenya’s…
The Uasin Gishu County Government has intensified efforts to strengthen cooperative societies through a comprehensive capacity-building programme aimed at improving governance, promoting enterprise growth, and creating employment opportunities. Speaking on Thursday June 25, during a training session attended by members of more than 40 boda boda Savings and Credit Cooperative Societies (SACCOs), Governor Jonathan Bii…
Families have moved from poverty and despair to stability and dignity through savings, affordable credit, and cooperative support. Cooperatives have enabled farmers to expand production, women to gain financial independence, and youth to start businesses and secure employment. The movement fosters community support, discipline, and innovation, despite challenges such as mismanagement, making cooperatives vital tools…
