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Government warns against fraudulent Saccos formed ahead of 2027 polls

Sacco ReviewJune 13, 202604 mins

The government has raised alarm over the rising number of Savings and Credit Cooperative Societies (Saccos) being registered in the run‑up to the 2027 General Election, warning that many are being formed with the sole intention of defrauding unsuspecting Kenyans. Cabinet Secretary for Cooperatives and MSMEs Development Wycliffe Oparanya said the ministry will tighten regulations…

SASRA launches case digest to guide Sacco governance and dispute resolution

Sacco ReviewJune 11, 2026June 11, 202605 mins

The Sacco Societies Regulatory Authority (SASRA) has unveiled first-ever Cooperative Financial and SACCO Law Case Digest to guide Sacco governance and dispute resolution. The digest was launched by the Principal Secretary for the State Department for Cooperatives, Patrick Kilemi, during the 2026 Regulatory Policy and Legal Roundtable for Deposit-Taking SACCO Societies. The publication was developed…

SASRA issues governance ultimatum to NWDT SACCOs

Sacco ReviewJune 11, 202608 mins

Kenya’s cooperative regulator has issued its starkest warning yet to non-withdrawable deposit-taking savings societies, telling their leadership that structural reform and professional governance are no longer optional as the sector steers towards a new legislative framework. The Sacco Societies Regulatory Authority (SASRA) convened its inaugural Regulatory Round Table for Non-Withdrawable Deposit-Taking (NWDT) SACCOs on April…

Insider loans emerge as new risk for co-operatives

Sacco ReviewJune 11, 202608 mins

Insider loans are emerging as a growing threat to the stability of co-operatives, with recent disclosures showing how senior officials in some savings societies have borrowed heavily against member funds and later defaulted, exposing governance gaps and weak credit risk controls. The concern is now gaining urgency across the sector as new audit findings and…

SASRA confirms appointment of David Sandagi as substantive CEO

Sacco ReviewJune 9, 202602 mins

The Sacco Societies Regulatory Authority (SASRA) has announced the appointment of David Sandagi as its substantive Chief Executive Officer (CEO) effective June 2026, following a decision by the Board after consultations with the Head of the Public Service and the Cabinet Secretary for Co-operatives and MSME Development. Sandagi has been serving in an acting capacity…

Co-operative leaders chart new governance agenda at Mombasa meeting

Sacco ReviewJune 6, 202603 mins

The Co-operative Alliance of Kenya (CAK) has concluded a high‑level meeting of chairpersons and vice‑chairpersons of co-operatives and SACCOs in Mombasa, setting a new agenda for governance, unity and sector transformation. The gathering brought together leaders from across the country to deliberate on strengthening accountability and aligning operations with emerging regulatory frameworks, including the New…

SASRA urges SACCOs to strengthen oversight as digital financial services expand

Sacco ReviewMay 22, 202604 mins

The Sacco Societies Regulatory Authority (SASRA) has urged the Savings and Credit Cooperative Organizations (SACCOs) to strengthen oversight by reinforcing compliance, risk management, and regulatory reporting standards in the rapidly evolving digital financial services space. Speaking during a virtual sensitization forum bringing together more than 600 participants from regulated SACCOs, Acting Chief Executive Officer (CEO)…

12,000 Saccos to face deregistration over failure to file returns

Sacco ReviewMay 19, 202603 mins

Co‑operatives Cabinet Secretary Wycliffe Oparanya has cautioned more than 12,000 Savings and Credit Cooperative Societies (Saccos) that they risk deregistration for failing to file annual returns, in a move aimed at protecting citizens from dormant and fraudulent accounts. Appearing before the Senate, Oparanya revealed that out of 14,000 registered Saccos, only 2,000 have complied with…

Attorney General orders Saccos to file annual returns within 60 days or face deregistration

Sacco ReviewMay 15, 2026May 15, 202604 mins

The Office of the Attorney General has issued a stern directive requiring all registered societies, including hundreds of Savings and Credit Cooperative Societies (Saccos), to file their annual returns within the next 60 days or risk enforcement action. In a public notice, the Registrar of Societies reminded organisations that filing annual returns is a legal…

Sacco leaders push Parliament for sector reforms in new cooperative bill

Sacco ReviewMay 14, 202608 mins

Leaders in Kenya’s cooperative movement have intensified pressure on Parliament to amend the proposed Sacco Societies (Amendment) Bill, warning that several clauses risk diluting the identity and operational independence of Savings and Credit Cooperative Organisations (SACCOs). The Co-operative Alliance of Kenya (CAK), the umbrella body representing the country’s cooperative sector, tabled a detailed memorandum before…