Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
The government, through the Sacco Societies Regulatory Authority (SASRA), has directed all Savings and Credit Cooperative Organisations (SACCOs) to submit their audited financial statements by March 15, 2026, as part of regulatory compliance measures. In a notice issued on January 9, SASRA said the submission window will run from January 1 to March 15, 2026,…
During a Cabinet meeting chaired by President William Ruto in March this year at State House, key amendments to the Sacco Societies Act, 2008, were approved in a bid to enhance the stability, efficiency, and competitiveness of the country’s Savings and Credit Cooperatives Societies (SACCOs). The proposed reforms, which are outlined in the Sacco Societies…
The government is planning to finalize the Cooperatives Bill that will enhance governance and legal collaboration between the national and county governments. The ministry is relooking at the Sacco Societies Act to be amend and establish a central liquidity facility and shared services platform to streamline the financial services. According to the CS Oparanya, Saccos…
Kenya is reputed to have the most vibrant cooperative sector in Africa. Financial cooperatives have grown exponentially necessitating the enactment of the sector-specific Sacco Societies Act, 2008, to regulate them. It is believed some Saccos have mobilised more deposits compared to some licenced commercial banks operating in the country. But what then ails this critical…
