Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Capital DT Sacco CEO Stephen Murithi has been arraigned over alleged fraud of Ksh39 million from the Sacco. He was granted bond of Ksh1 million, with mention set for August 19 and hearing for October 15, 2026. The alleged fraud occurred at the Sacco’s Meru offices between February and April 2026. Capital DT Sacco Chief…
Ports Sacco opens Malaba branch to expand financial services and promote a savings culture in Busia County. Branch attracts 800 members shortly after launch, with leaders targeting 5,000 as cooperative savings gain traction. Sacco surpasses Ksh12bn in assets and offers loans, competitive dividends and insurance to support members’ financial growth Teso North Member of Parliament…
NSSF Sacco is targeting Tier I status by the end of 2026 as it expands membership nationwide beyond its traditional National Social Security Fund employee base. The deposit-taking Sacco has nearly Ksh 5 billion in assets, a Ksh 4 billion loan book, Ksh 3.9 billion in member savings and plans to grow assets above Ksh…
Government rules out term limits for Sacco directors, saying leadership should remain a democratic choice for members. Ministry plans to expand SASRA oversight to regulate all Saccos, strengthen governance and deploy technology for closer financial monitoring. Proposed Sacco Societies (Amendment) Bill, 2025 creates an independent Deposit Guarantee Fund Board to protect members’ deposits and improve…
A Nairobi court ruled that unlicensed digital lenders cannot sue to recover unpaid loans. The decision strengthens the legal position of licensed Saccos over unregulated lenders. The ruling also reminds Sacco digital lenders to maintain valid CBK licences. A Nairobi court has barred unlicensed digital lenders from suing to recover unpaid debts, handing Saccos a…
Sacco boards must nominate at least three eligible external auditors for members to vote on during the Annual General Meeting (AGM). The selected auditor’s appointment must be submitted to SASRA within 30 days, together with certified AGM minutes. External auditors should rotate after three years unless SASRA grants a waiver, while any midterm removal requires…
Wakenya Pamoja Sacco assets surpass Ksh2 billion Membership grows to more than 148,000 Sacco plans expansion beyond Kisii Nyanza Wakenya Pamoja Sacco Society (WPS) Limited has reported an asset base exceeding Ksh2 billion, with deposits of over Ksh952 million and share capital surpassing Ksh624.7 million, as the deposit- taking Sacco continues its expansion across the…
247 Saccos cut or skipped dividends after regulators directed them to retain earnings and strengthen capital reserves. The move aims to improve liquidity, protect members’ savings and support affordable lending despite strong sector growth. Regulated Saccos grew assets to Ksh727.1 billion, while the wider sector’s assets surpassed Ksh1.2 trillion in 2025. Kenya’s Savings and Credit…
Saccos disbursed Ksh33.7 billion for land and housing, an 18% increase from Q1 2025. Total Sacco lending rose to Ksh115.7 billion, with education and agriculture among the top sectors financed. Sacco assets grew to Ksh1.21 trillion, while member deposits reached Ksh870 billion in Q1 2026 A large portion of credit disbursed by Savings and Credit…
SASRA showcased Kenya’s cyber resilience strategy for SACCOs at the 2026 ICURN Annual Conference in Mumbai. CEO David Sandagi outlined the regulator’s response to cyber threats, digital risks and incident preparedness. The SACCO Societies Regulatory Authority (SASRA) has detailed its supervisory response to a live cyber crisis, in a presentation by its Chief Executive Officer(CEO),…
