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

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…

CS Oparanya with Committee of Experts during presentation of Report on the Transformation of the SACCO System in Kenya to President William Samoei Ruto.

Proposed reforms to make whistle blower policy mandatory in SACCOs

Sacco ReviewApril 8, 2026April 8, 202608 mins

Savings and Credit Co-operative Societies (SACCOs) could soon be required to adopt mandatory whistle-blower policies as part of sweeping reforms aimed at improving transparency, governance and accountability in the sector. The proposal is contained in a report by a Committee of Experts reviewing Kenya’s SACCO legal and regulatory framework. The committee recommends that SACCOs establish…

Machogu urges youth to join SACCOs for financial security and national growth

Sacco ReviewApril 7, 202603 mins

Former Education Cabinet Secretary Ezekiel Machogu has called on school leavers and university graduates to embrace Savings and Credit Cooperative Organisations (SACCOs) as a pathway to financial stability and empowerment. Speaking during a youth empowerment forum hosted by the Kisii Youth Bunge Sacco, Machogu said young people must harness their education, creativity, and talents to…

KUSCCO pushes for tax relief on SACCO transactions in 2026/27 budget submissions

Sacco ReviewApril 6, 202604 mins

Members of Savings and Credit Cooperative Organisations (SACCOs) could soon enjoy significant tax relief if proposals presented to the National Treasury are adopted in the upcoming 2026/27 national budget. The Kenya Union of Savings and Credit Co-operatives (KUSCCO) has urged the Treasury to scrap excise duty on member-based transactions, arguing that the levy unfairly penalises…

Mega SACCO proposal sparks uproar as cooperative principles take centre stage

Sacco ReviewApril 6, 2026April 6, 202606 mins

A legislative proposal by Kikuyu Member of Parliament (MP) Kimani Ichung’wah to establish a “Mega Sacco” that would pool funds from existing Savings and Credit Cooperative Organizations (SACCOs) has ignited intense public debate, exposing deep tensions between state-driven financial consolidation and the foundational philosophy of the cooperative movement. At the heart of the proposal lies…

SASRA orders SACCOs to bolster cyber-security ahead of holiday attack risks

Sacco ReviewApril 2, 202604 mins

The Sacco Societies Regulatory Authority (SASRA) has directed all regulated SACCOs to institute round‑the‑clock surveillance and mandatory offline data back‑ups of their digital platforms, warning of heightened cyber‑attack risks during the upcoming Easter and Labour Day holidays. According to SASRA, analysis of past incidents shows cyber‑attacks peak during long weekends and public holidays, particularly in…

Why income from Sacco non-core activities should not be taxed

Sacco ReviewMarch 25, 202609 mins

Savings and Credit Cooperative Societies (SACCOs) have long been recognized as vital pillars in Kenya’s financial ecosystem. This is true to-date. Under the Bottom-Up Economic Transformation Agenda (BETA), SACCOs are not merely financial intermediaries but grassroots economic engines that mobilize savings, deepen financial inclusion, and empower millions of citizens economically. They are agencies of change….

Key recommendations to restore trust in KUSCCO

Sacco ReviewMarch 22, 202607 mins

The Committee of Experts reviewing Kenya’s SACCO legal and regulatory framework has called for immediate reforms at the Kenya Union of Savings and Credit Co-operatives Ltd (KUSCCO) to restore public confidence following a massive fraud scandal. The scandal, which saw over Ksh13.3 billion misappropriated from member SACCOs, involved illegal withdrawals, unauthorized transfers, and unsupported executive…