Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
As your Savings and Credit Co-operative (Sacco)expands its influence and network, you are likely to face various risks, such as money laundering. Anti-Money Laundering, commonly referred to as AML, is a set of laws, regulations, and procedures designed to prevent and detect illegal financial activities, primarily money laundering. The primary purpose of AML measures is…
After years of bureaucratic delays, the Mungatsi Economic Warriors Cooperative Society has finally been cleared to operate as a fully registered Sacco in Busia County. The long‑awaited approval, granted after intervention by the Department of Trade and Cooperatives, has paved the way for the society to begin mobilising savings and offering credit services under a…
Cooperatives Principal Secretary (PS) Patrick Kilemi has warned Savings and Credit Cooperative Organizations (SACCOs) against venturing into unregulated investments, urging stronger governance structures and tighter internal controls to protect member funds. Speaking at the 1st Regulatory Policy and Legal Roundtables for NWDT SACCOs, PS Kilemi said the growing appetite for investments outside the regulatory framework…
