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

CS Oparanya calls for strict oversight of audited SACCO accounts to boost accountability

Sacco ReviewSeptember 25, 202503 mins

The Co-operatives and MSMEs Development Cabinet Secretary, CS Wycliffe Oparanya have called for financial accountability, directing Sacco Societies Regulatory Authority (SASRA) and the Commissioner of Cooperatives to enforce strict oversight of audited SACCO accounts. Speaking during the SACCO Supervision Annual Report 2024 launch in Nairobi, CS Oparanya said such reforms is aimed at tightening financial…

Why Kenyans still prefer SACCO to Bank Loans

Sacco ReviewSeptember 8, 202509 mins

A move by commercial banks to cut their lending rates after intense pressure from monetary authorities is attracting the attention of many financial services users. Do these latest cuts in the price of bank loans pose any threat to SACCOs, considered serious players in the lending business and Kenya’s financial sector? “This trend to lower…

Homa Bay fishermen form Sacco to boost income, net wealth in blue economy

Sacco ReviewSeptember 2, 2025September 3, 202506 mins

Fishermen in Homa Bay have formed a Savings and Credit Cooperative Society (Sacco) to boost their income and promote sustainable fishing. This comes after President William Ruto, during the Blue Economy Summit at Tom Mboya University on May 31, gave the Homa Bay Beach Management Unit Sacco Ksh5 million to strengthen its financial base. During…

Kenya launches SITPA to drive SACCOs’ digital transformation

Sacco ReviewJuly 10, 202504 mins

Kenya has officially launched the Sacco IT Professionals Association (SITPA), a new initiative aimed at strengthening the digital capabilities of Savings and Credit Cooperative Organizations (SACCOs). The launch took place on July 9,  2025, at the Mwalimu National DT SACCO Building in Nairobi. SITPA brings together IT professionals working in SACCOs across the country. Its goal…

Annual Ksh3 billion SACCO losses raise alarm over weak oversight

Sacco ReviewJuly 5, 202505 mins

The cooperative finance sector in Kenya is under growing scrutiny as fresh revelations expose extensive financial mismanagement and fraud across savings and credit cooperatives (SACCOs), with annual losses exceeding Ksh3 billion. According to the Sacco Societies Regulatory Authority (SASRA), these massive losses are attributed to poor governance, unremitted member contributions, liquidity challenges and a widespread…

Oparanya unveils bold SACCO reforms after Ksh 13B scandal

Sacco ReviewJuly 2, 202504 mins

Co-operatives and MSMEs Development CS Wycliffe Oparanya stood before SACCO leaders at Kenya Union of Savings and Credit Co-operatives (KUSCCO).on 23 June, 2025, and delivered an upbeat progress report on the sector clean-up launched after the KSh 13 billion KUSCCO scandal. He said investigative files have been handed over for prosecution and promised that “every…

Should Saccos trust their auditors?

Sacco ReviewJune 14, 2025June 16, 2025015 mins

A recent revelation that a dead auditor certified the financial statements and accounts of the now financially crippled Kenya Union of Savings and Credit Cooperative Society (KUSCCO) is raising questions on whether or not members of any Society should trust the opinion and audited accounts presented by these esteemed professionals. It also raises the lid…

Kajiado County Assembly register Bunge Sacco

Sacco ReviewMay 26, 202502 mins

Kajiado County Assembly staff and members of county assembly have registered a Sacco to empower themselves through credit, and investment opportunities. The Sacco dubbed Kajiado County Bunge Savings and Credit cooperative Society Limited received the registration certificate on 20th March 2025. Kajiado County Director of Cooperatives James Taiko commended the assembly for the move which…

SASRA warns cooperatives of dire consequences for mismanaging funds

Sacco ReviewFebruary 21, 202506 mins

The SACCO society’s regulatory authority (SASRA) has issued a stern warning to cooperatives that mismanage members’ funds, stating that their days are numbered. Jack Ranguma, the Chairman of the SACCO Societies Regulatory Authority (SASRA), particularly singled out Metropolitan National SACCO, noting that its members have lost millions of shillings. Ranguma revealed that the minister responsible…

County Government of Busia launches training initiative for SACCO managers

Sacco ReviewFebruary 21, 202503 mins

The County Government of Busia has launched a major initiative to streamline the disbursement of agricultural funds by training SACCO managers in proper financial management and accountability. The initiative aims to ensure that government resources allocated to farmers are effectively utilized to promote economic growth. During the training session for 126 SACCO managers from 14…