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

When SACCOs lose their soul: Mismanagement, family control, no dividends, and the illusion of opulence

Sacco ReviewApril 28, 2026010 mins

SACCOs (Savings and Credit Cooperative Organisations) are founded on a simple promise—members pool savings, trust leadership, and share in financial growth through affordable credit and annual dividends. In their ideal form, SACCOs represent discipline, transparency, and collective progress. But when governance weakens, and accountability fades, that promise can slowly transform into mismanagement, inequality, and eventually…

Lamu West farmers, cooperatives get Ksh 12.4 million boost under FSRP inclusion grants

Sacco ReviewApril 28, 202603 mins

Farmers and cooperative societies in Lamu West Sub-county are set to transform their agricultural operations after the County Government of Lamu disbursed over Ksh 12.4 million in inclusion grants under the Food Systems Resilience Program (FSRP), marking a significant step toward strengthening food security in the region. Lamu Governor Issa Timam presided over the phase…

Saccos remain wary of poor savings culture among Kenyans as incomes dwindle

Sacco ReviewApril 27, 2026April 27, 202606 mins

Since 2023, Kenyans, especially those working in formal employment, have faced tough times with increased taxation and new statutory deductions eating into their payslips. Over the last three years, the government has increased deductions among salaried Kenyans with the Social Health Insurance Fund (SHIF), requiring a mandatory contribution of 2.75% of an employee’s gross monthly salary….

PS Kilemi warns SACCOS against risky investments outside regulatory framework

Sacco ReviewApril 24, 2026April 24, 202605 mins

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…

SASRA chair urges stronger oversight and shared services for the Sacco sector

Sacco ReviewApril 24, 2026April 24, 202604 mins

The Sacco Societies Regulatory Authority (SASRA) has called for deeper reforms and stronger oversight to safeguard members’ savings, as the Specified Non‑Withdrawable Deposit‑Taking (NWDT) sector continues to expand. Speaking during the 1st Regulatory Policy and Legal Roundtables for NWDT SACCOs, SASRA Board Chairman Jack Ranguma said the forum comes at a critical juncture, five years…

Government warns Saccos against borrowing to pay dividends

Sacco ReviewApril 21, 202603 mins

The Commissioner for Cooperatives Development, David Obonyo, has sounded a stern warning to cooperatives and savings and credit societies (Saccos) that resort to borrowing money to declare dividends and rebates. Speaking during the launch of a four‑year strategic plan for Mhasibu Sacco, Obonyo said such practices amount to deception and will attract punishment under tightened…

Rabai youth and women urged to embrace Saccos for growth and prosperity

Sacco ReviewApril 12, 202603 mins

Youth and women in Rabai Sub-County, Kilifi, have been called upon to strengthen cooperation and embrace the formation of Savings and Credit Cooperative Societies (Saccos) as a pathway to economic empowerment and sustainable development. Speaking recently, in Rabai, the newly appointed Sub-County Cooperative Officer, Mr. Raphael Barawa, underscored the importance of cultivating a strong saving…

CS Cooperatives Wycliffe Oparanya ( C) with Commissioner for Cooperative David Obonyo ( l) during leadership forum in Naivasha.

Over 10,000 SACCOs face closure for failure to file annual returns

Sacco ReviewApril 10, 202604 mins

The Ministry of Cooperatives and Micro, Small and Medium Enterprises (MSME) Development has issued a stern warning to SACCOs (Savings and Credit Cooperative Societies) that have failed to file their annual returns, confirming that those who remain non-compliant risk having their licenses revoked. Cabinet Secretary for the Ministry of Cooperatives and MSME Development, Wycliffe Oparanya,…

Proposal to rebrand SACCOs into credit unions as part of co-op sector reforms

Sacco ReviewApril 10, 202604 mins

Kenya’s cooperative movement is staring at a historic transformation, with sector leaders deliberating over a proposal to rebrand SACCOs as credit unions, a move described as largely semantic but symbolically weighty in a country where SACCOs remain deeply embedded in the financial lives of millions. The discussions took place during the Leadership, Ethics and Strategic…

WOCCU guidelines on use of AI in Saccos

Sacco ReviewApril 9, 202608 mins

Savings and credit co-operatives (Saccos) have received a roadmap for adopting artificial intelligence (AI) tools as the sector explores how emerging technologies could improve efficiency, risk management and member services. The guidance, developed for credit unions globally by the World Council of Credit Unions (WOCCU), outlines in a white paper how financial cooperatives can integrate AI…