Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Insider loans are emerging as a growing threat to the stability of co-operatives, with recent disclosures showing how senior officials in some savings societies have borrowed heavily against member funds and later defaulted, exposing governance gaps and weak credit risk controls. The concern is now gaining urgency across the sector as new audit findings and…
Savings and credit cooperative Societies (Saccos) have become the latest institutions to oppose proposals in the Finance Bill 2026 that would allow the Kenya Revenue Authority (KRA) to freeze bank accounts and recover funds even while tax disputes remain unresolved. The Kenya Union of Savings and Credit Cooperatives (Kuscco) told the National Assembly’s Finance and…
The Kenya Union of Savings and Credit Co‑operatives (KUSCCO) has formally submitted the sector’s consolidated recommendations on the Finance Bill 2026/27 to the National Assembly, warning that poorly aligned tax measures could destabilise cooperative finance and burden households already grappling with rising living costs. At the heart of the submission is opposition to taxing internal…
The government has lifted its year‑long suspension on the registration of new Savings and Credit Cooperative Organisations (SACCOs), but applicants will now face stricter requirements aimed at strengthening governance and protecting members’ deposits. Speaking during the launch of preparations for this year’s International Co-operative Day celebrations, popularly known as Ushirika Day, Commissioner for Co‑operative Development…
Cabinet Secretary for Co-operatives and MSME Development Wycliffe Oparanya has assured the Senate that the Government is accelerating reforms in the Savings and Credit Cooperative (SACCO) sector in a bid to strengthen governance, safeguard members’ savings, and restore public confidence in cooperative financial institutions. Appearing before the Senate Standing Committee on Trade, Industrialisation, and Tourism,…
Cabinet Secretary for Co‑operatives and MSMEs Development Wycliffe Oparanya has disclosed that the Kenya Union of Savings and Credit Cooperatives (KUSCCO) is grappling with a financial deficit of nearly Ksh12 billion, a crisis uncovered through a forensic audit that revealed years of misreported profits. The revelation comes as the government intensifies reforms aimed at restoring…
Trans‑National Times (TNT) Sacco delegates have endorsed a three‑year strategic plan aimed at expanding the cooperative’s asset base to KSh 4.5 billion. The plan, adopted during the annual delegates’ meeting, is designed to strengthen financial stability while enhancing service delivery to members. Speaking at the launch, Sacco Chairman Dr Evans Sichangi said the blueprint goes…
Members of Savings and Credit Cooperative Organisations (SACCOs) could soon enjoy significant tax relief if proposals presented to the National Treasury are adopted in the upcoming 2026/27 national budget. The Kenya Union of Savings and Credit Co-operatives (KUSCCO) has urged the Treasury to scrap excise duty on member-based transactions, arguing that the levy unfairly penalises…
Kenya Union of Savings and Credit Co-operatives (KUSCCO) in collaboration with African Confederation of Co-operative Savings and Credit Associations (ACCOSCA), is set to host the 8th Eastern Regional Bloc Forum, a key event for SACCO stakeholders in the region. The forum, which is scheduled to take place from April 15th to 17th, 2026, at the…
Members of the KUSCCO Housing Cooperative Society have sharply criticized the Commissioner for Cooperative Development over what they termed as deliberate delays in endorsing the society’s rebranding process. Led by their chairman, Joseph Mukumi, the members said the society fulfilled all the required conditions for rebranding several months ago, but the Commissioner has yet to…
