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

Senator petition Senate to probe collapse of Metropolitan SACCO

Sacco ReviewApril 17, 2025April 17, 202503 mins

Nominated Senator Tabitha Mutinda has petitioned the Senate to urgently probe the financial collapse of Metropolitan National SACCO Limited. Auditors had uncovered Kshs12 billion loss, over 75,000 members were unable to access their savings. Senior officers were dismissed and replaced by a caretaker committee in 2022. In a Statement to the Senate Committee on Trade,…

Ufanisi DT Sacco boss hangs up boots after 40 years legacy in the co-op movement

Sacco ReviewMarch 20, 2025014 mins

After a happy 40 years in the cooperative movement, where he rose through the ranks to become one of the renowned leaders, CPA Frederick Masoso Abuyabo, the immediate former Chief Executive Officer (CEO) of Ufanisi Deposit Taking Sacco, hang up his boots. His handwork and determination have seen him climb the career ladder from a…

Nyati SACCO institutes KSh 86.4 Million law suit against KUSCCO

Sacco ReviewFebruary 24, 202505 mins

Nyati Deposit-Taking SACCO has taken legal action against the insolvent Kenya Union for Savings and Credit Co-operative Organization (KUSCCO), seeking to recover a sum of KSh 86,433,583.00 held by the Union as Fixed Deposits. The case, with file number Milimani JR Application N.E 035 of 2025, is currently before the High Court of Kenya in…

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…

SASRA publishes list of approved external auditors for Saccos in the year 2025

Sacco ReviewJanuary 27, 202503 mins

The Sacco Societies Regulatory Authority (SASRA) has published a list of approved and registered external auditors for Saccos. This is in accordance with Section 45(b) of the Sacco Societies Act and SASRA’s guidelines. The external auditors have been duly approved and registered by the Authority to provide auditing services to regulated Saccos in Kenya for…

Tower Sacco deposits hit 21B to move 3 places up the overall rankings

Sacco ReviewOctober 25, 2024October 25, 202405 mins

Tower Sacco’s share capital and deposits increased by over Ksh3 billion in the last eight months to move from position 8 to 5 in a pool of 174 deposit-taking Saccos. According to Sacco Society Regulatory Authority (SASRA) in its Annual Sacco Supervisory Report 2023 which was released recently, the Sacco was ranked fifth under Large…

Cooperative bill to be law by end of year CS Oparanya says

Sacco ReviewOctober 16, 202408 mins

The Cabinet Secretary for Cooperatives and MSMEs Development Wycliff Oparanya has said that the cooperative bill 2024 which has put corrective measures for the Saccos is expected to become law by the end of the year. Oparanya speaking during 50 years celebrations of Stima Sacco Society Limited held at Carnivore Grounds in Nairobi said that the…

6.8 million members borrowed over Ksh700 billion in Saccos

Sacco ReviewSeptember 17, 202403 mins

The membership in the country’s Savings and Credit Co-operatives (SACCOs) has increased from 6.42 million in 2022 to 6.84 million in 2023, borrowing over Ksh700 billion within a span of one year. According to the recently released 2023 Annual Sacco Supervision Report by SASRA the increase in the 357-Regulated Saccos translated to 6.57 per cent…

Mwalimu Sacco maintains top position in Kenya, Africa in latest report

Sacco ReviewSeptember 17, 202405 mins

Mwalimu National DT Sacco has maintained its top position in the country and in Africa as one of the Savings and Credit Co-operatives (SACCO) with the highest asset base in the latest supervisory report released by the country’s Sacco regulator. According to the recently released Sacco Societies Regulatory Authority (SASRA) 2023 Annual Supervision Report, Mwalimu…

Public varsities, colleges owe highest non-remitted funds to SACCOs

Sacco ReviewSeptember 13, 2024September 13, 202403 mins

Public universities and tertiary colleges owed the largest proportion of non-remitted funds for SACCOs in 2023, a report by Sacco Societies Regulatory Authority (SASRA) has revealed. According to the Sacco Supervision Annual Report 2023 released this week, the institutions owed Ksh958.07 million which translates to 37 per cent of the total non-remitted funds. Subsequently, county…