Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Kenya Union of Savings & Credit Co-operatives (KUSCCO) has submitted policy proposals to the National Treasury aimed at strengthening SACCOs and protecting member welfare. Among the proposals is the amendment of Section 19A of the Income Tax Act (ITA) to provide a uniform tax treatment for all types of cooperatives societies, recognizing their shared goals…
The year 2025 will be remembered as a defining chapter for Kenya’s cooperative sector, one marked by ambition, innovation, and uncomfortable truths. It was a year when Saccos demonstrated their enduring relevance in a rapidly digitizing economy, while simultaneously confronting one of the most serious governance crises in the history of the movement. Together, these…
The Kenya Union of Savings and Credit Co-operatives (KUSCCO) has officially begun disbursing refunds to SACCOs, marking the first major step in settling the Ksh6.2 billion it owes its members. The long-awaited repayments follow a financial crisis at the union that was attributed to mismanagement and fraudulent activities under previous leadership. Co-operatives and MSMEs Cabinet…
The government has launched a formal inquiry into KUSCCO Housing Co-operative Society Limited following member complaints alleging that the society was used to siphon savings from affiliated SACCOs. In a Gazette notice dated October 28, 2025 (No. 17555), the government directs investigators to scrutinise the society’s by-laws, financial records, and the conduct of both current…
The Sacco Societies Regulatory Authority (SASRA) has issued a stern warning to external auditors who fail to submit mandatory statutory reports on time, saying they risk permanent deregistration and a lifetime ban from auditing any cooperative institution in Kenya. In a circular released this week, SASRA revealed that several audit firms had either failed to…
When a monumental financial scandal rocked the Kenya Union of Savings and Credit Co-operatives (Kuscco), perhaps the hardest hit by the financial losses were Small-Tiered Regulated SACCOs that had looked upon Kuscco as the proverbial hen’s wing under which the small chicks could hide. Most of the small Saccos had put up at least Ksh22…
The Kenya Union of Savings and Credit Cooperatives (Kuscco) has launched a massive recovery drive targeting Ksh1.7 billion worth of defaulted housing loans from 684 borrowers, in a renewed push to clean up its books and restore confidence in the cooperative sector. The auctions, scheduled for November 6, 14, and 28, will see houses and…
Kenya Union of Savings and Credit Cooperatives, (KUSCCO) has announces various strategic measures to support its financial stability, strengthen cash flow and improve operational efficiency. According to the circular dated September 22, signed by the Group Managing Director Arnold Munene, and directed to all KUSCCO member SACCOs chairpersons, the union outlined various strategies which include:…
Afya Co-operative Savings and Credit Society Limited has convened a Virtual Delegates Meeting on September 22, 2025, as pressure mounts over a KSh550 million scandal that has rocked the country’s 60 year-old Sacco. The meeting notice, signed by Honorary Secretary A. Maweu, outlines a tense agenda that includes adopting financial statements, approving the 2026 budget,…
The government has barred all Savings and Credit Cooperative Societies (SACCOs) in Kenya from investing in non-core business activities until proper regulations and supervisory frameworks are in place. This decision comes amid rising concerns over financial mismanagement and instability within the SACCO sector, which has seen some cooperatives plunge into financial turmoil due to unregulated…
