SACCO

SASRA cancels four DT Sacco licences

By Staff Reporter The Sacco Societies Regulatory Authority (SASRA) withdrew the licenses of four deposit-taking Saccos by close of December 2021. Effectively, the four are barred from conducting deposit-taking business in 2022. Affected Saccos are Nyamira Tea Sacco Society Ltd, Uchongaji Sacco Society Ltd, Nanyuki Equator Sacco Society Ltd and Comoco Sacco Society Ltd. SASRA…

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Stima Sacco: Africa’s Second Largest Sacco

By Azael Masese Stima Deposit Taking (DT) Sacco exhibits all the attributes and performance indicators of a successful institution. Ranked the second wealthiest Society by the Sacco Societies Regulatory Authority (SASRA), their end year performances have remained mouth-watering. As of 31st December 2021, the Society’s asset base, turnover, loan book and balance sheet had grown by…

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Saccos must meet new rules June deadline

 By Malachi Motano The Sacco Societies Regulatory Authority (Sasra) says Non-Deposit-Taking Business (NDTB  must meet the new Sacco Societies regulations before the 2020June 30, 2021 deadline.   The Sasra acting Chief Executive Officer Peter Njuguna ruled out any extension, warning that non-compliant Saccos will be black listed. “We have warned members of the public against dealing with…

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