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Inside the SACCOs’ Deposit Protection Fund recommended by experts

Sacco ReviewMarch 20, 2026March 20, 202608 mins

The Savings and Credit Co-operative Societies (SACCOs) in Kenya might finally have a deposit protection fund(DPF) similar to that enjoyed by banks, 5 years after Kenya’s Cabinet approved amendments to the Savings and Credit Co-operative Societies (SACCO) Act, to make this happen. The fund proposed by the sector experts seeks to establish a deposit insurance…

Understanding the Equity of Redemption Principle as a critical protection for borrowers

Sacco ReviewMarch 18, 202609 mins

In the world of loans and mortgages, borrowers often place valuable assets such as land, houses, or vehicles as security when seeking credit. While this arrangement helps individuals access much-needed funds, it also exposes them to the risk of losing their property if they fail to repay the loan. To prevent lenders from unfairly taking…

Oparanya urges SACCOS to expel rogue officials as sector reforms intensify

Sacco ReviewMarch 14, 202604 mins

Co-operatives and Micro, Small and Medium Enterprises Development Cabinet Secretary Wycliffe Oparanya has called on savings and credit cooperatives (SACCOS) to take decisive action against rogue officials implicated in fraud and financial mismanagement. He warned that allowing such individuals to move freely between institutions undermines trust and stability in the cooperative sector. Speaking during a…

Sidian Bank to work with SACCOs to spur growth

Sacco ReviewFebruary 25, 202605 mins

The Sidian Bank has reaffirmed its commitment in working with Saving and Credit Cooperative Organisations (SACCOs) to leverage itself through partnerships and linkages in order to spur growth. The banks’ Chief executive officer Chege Thumbi said that SACCOs can serve as trusted financial partners throughout members’ life journeys. Speaking in Kisumu during the Kenya Teachers…

State rejects SACCOs request to pay interest and dividends from loans

Sacco ReviewFebruary 19, 202604 mins

The Cabinet Secretary for Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Wycliffe Oparanya has raised concern over growing financial mismanagement within savings and credit co-operative societies (SACCOs), warning that some institutions are pressuring the ministry to allow them to declare interest on deposits and dividends without adequate revenues or cash flows to support the…

SACCOs to have special trading counter at the Nairobi Securities Exchange

Sacco ReviewFebruary 14, 2026February 15, 2026012 mins

The Savings and Credit Cooperative Societies (SACCOs) will soon have a special trading counter at the Nairobi Securities Exchange (NSE), as the financial regulators continue to burn the midnight oil to ensure that the Societies are on boarded at the bourse. This was revealed by Dedan Maina, an investment consultant at Ketu Capital, who said…

Ruto calls for Sacco overhaul to improve governance, technology

Sacco ReviewFebruary 12, 202602 mins

President William Ruto has called for transformation of Savings and Credit Cooperative Organisations (SACCOs) into stronger, more efficient institutions that directly benefit Kenyan communities. Speaking at State House in Nairobi, after receiving a report from experts who reviewed the governance and operations of SACCOs, President Ruto said there is need for SACCOs to modernize systems,…

SASRA suspends 5 SACCOs from receiving deposits due to unrenewed license

Sacco ReviewFebruary 6, 202604 mins

The Sacco Societies Regulatory Authority (SASRA) has suspended five SACCOs from receiving deposits, allowing them to operate under restricted credit-only permits. According to the Authority, those affected by the measures include Dumisha SACCO Society Ltd, Bi-High SACCO Society Ltd, Metropolitan National SACCO Society Ltd, Ol’Kaunsel Regulated Non-WDT SACCO Society Ltd, and Digital Media Regulated Non-WDT…

State allays fears over proposed small SACCOs mergers, says members’ savings won’t be undermined

Sacco ReviewJanuary 21, 202604 mins

The government has sought to allay fears among low-income and small cooperative societies, assuring them that proposed mergers with larger Savings and Credit Cooperative Organisations (SACCOs) will not threaten their stability or members’ savings. Cooperatives Principal Secretary Patrick Kilemi said the reforms are intended to stabilise the SACCO sector, improve governance and enhance performance through…

How outdated Coop Act prevents SACCOs from listing at Nairobi Securities Exchange

Sacco ReviewJanuary 19, 2026017 mins

A legal vacuum and an outdated law has denied Savings and Credit Cooperative Societies(SACCOs)the opportunity of listing and raising cheaper capital from the Nairobi Securities Exchange. Compared to listed firms that can float a bond or commercial paper to raise cash, SACCOs rely purely on internal sources including doing share drives through selling more shares to…