Jack Ranguma, the chairperson of SASRA./photo file

 SASRA decries SACCOs slow adoption of credit scores in loan appraisals

The Sacco Societies Regulatory Authority (SASRA) has expressed concern that, despite the immense value of credit scoring, SACCOs have been slow to fully adopt credit referencing, resulting in gaps in credit decision-making. The regulator also highlights challenges in implementing effective credit-scoring systems, which have hindered responsible lending and undermined long-term financial stability. However, some senior…

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1President Ruto assents Anti-Money Laundering bill that empowers SASRA in regulating Saccos./photo courtesy

President Ruto assents Anti-Money Laundering bill that empowers SASRA in regulating Saccos

President William Ruto has assented to the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025. The head of state also signed into law the Insurance Professionals Bill (National Assembly Bills No. 13 of 2024). The Anti-Money Laundering and Combating of Terrorism Financing legislation is designed to strengthen Kenya’s framework for tackling money…

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Jack Ranguma, Chairman, Board of Directors SASRA/photo file

Why SACCOs are reluctant to use Credit Scores in loan appraisals

The Sacco Societies Regulatory Authority (SASRA) has expressed concerns that while credit scoring has immense value, SACCOs have been slow to adopt credit referencing fully, creating gaps in credit decision-making. The regulator also points to challenges in implementing effective credit-scoring systems, which have hampered responsible lending and long-term financial stability. According to the latest SACCO…

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PS Cooperatives Principal Patrick Kilemi ( c)with SASRA chair Jack ( l) Ranguma during Sacco Subsector Regulatory Policy and Legal Roundtable, 2024 in Naivasha

SASRA urges Sacco to embrace modern technology and strict compliance for sustainable growth

Manager of Market Conduct Supervision at the Sacco Societies Regulatory Authority (SASRA), Anne Kago has said the financial and Sacco sector is constantly evolving, and staying ahead of regulatory trends is key to growth and compliance. Addressing a gathering of Sacco leaders and financial experts, she broke down the latest regulatory shifts shaping the industry,…

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Why SACCOs are reluctant to use Credit Scores in loan appraisals

The Sacco Societies Regulatory Authority (SASRA) has expressed concerns that while credit scoring has immense value, SACCOs have been slow to adopt credit referencing fully, creating gaps in credit decision-making. The regulator also points to challenges in implementing effective credit-scoring systems, which have hampered responsible lending and long-term financial stability. According to the latest SACCO…

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CBK to pump KSh 180m into SafetyNet to protect SACCO cash

The Central Bank of Kenya (CBK) plans to put in an estimated Ksh 180 million into a Deposit Guarantee Fund (DPF), designed to provide a financial safety net for individuals and corporate entities that hold huge deposits in Deposit-Taking Savings and Credit Cooperative Societies (SACCOs). This yet-to-be-established fund is part of the latest reforms in…

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Parliament passes Anti-Money Laundering Laws Bill, proposes to amend Sacco Act

The National Assembly has passed the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025. The bill will see amendment of the Sacco Societies Act (Cap. 490B), empowering the Sacco Societies Regulatory Authority (SASRA) in regulating the Saccos, the societies have mobilized deposits of members to the tune of more than ksh 1…

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Nominated Senator Tabitha Mutinda/photo courtesy

Senator petition Senate to probe collapse of Metropolitan SACCO

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,…

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

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…

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