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

Govt directs investigations into KUSCCO housing projects over alleged corruption

Sacco ReviewNovember 30, 202502 mins

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…

SASRA threatens lifetime ban for Sacco auditors over delayed reports

Sacco ReviewOctober 28, 202505 mins

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…

How small Saccos can survive bumpy financial terrain

Sacco ReviewOctober 15, 202506 mins

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…

KUSCCO to auction Ksh1.7B properties in loan recovery drive

Sacco ReviewOctober 9, 202504 mins

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…

KUSCCO announces strategic measures towards financial stability

Sacco ReviewSeptember 29, 202506 mins

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 Sacco to hold delegates meeting amid financial irregularities

Sacco ReviewSeptember 6, 202503 mins

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,…

Government bans SACCOS from non-core investments amid financial crisis

Sacco ReviewAugust 7, 202507 mins

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…

Wetang’ula urges farmers to root out corrupt officials in troubled SACCOs

Sacco ReviewJuly 28, 202504 mins

National Assembly Speaker Moses Wetang’ula has issued a strong call to farmers to weed out corrupt officials from cooperative societies, warning that graft within agricultural SACCOs is fast eroding the backbone of the farming sector. Speaking on Sunday, July 27, at St. Peter’s Catholic Church in Sirisia Constituency, Bungoma County, Wetang’ula criticized the rampant mismanagement…

KUSCCO to auction properties of defiant SACCOs over Ksh1.36 Billion loan default

Sacco ReviewJuly 23, 202504 mins

The Kenya Union of Savings and Credit Co-operatives (KUSCCO) is set to auction properties to recover Ksh1.36 billion in unpaid loans from SACCOs that secured funding against deposits worth Ksh368 million leaving a massive shortfall of nearly Ksh988 million. KUSCCO has since issued demand letters requiring defaulting SACCOs to submit payment or a formal repayment…

2025 World Credit Union Conference kicks off in Sweden

Sacco ReviewJuly 16, 2025July 16, 202504 mins

The 2025 World Credit Union Conference (WCUC) kicked off on Monday, July 14, in Stockholm, Sweden and will run through Wednesday, 16 July 2025. Organized by the World Council of Credit Unions (WOCCU), this year’s conference — themed “The Future is Cooperative” — brings together global cooperative leaders to share insights, shape policy, and strengthen…