Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Saccos are grappling with liquidity constrain as employers withhold over Ksh3 billion in non-remittances, the issue which has led to heavy loan defaults among employees. The heavy loan defaults have put the Saccos in a state of dilemma of whether to retain or abandon the check-off system for loan and savings deductions to remain stable….
In the intricate landscape of Kenya’s financial ecosystem, the Sacco Societies Regulatory Authority (SASRA) Supervision Report 2024 emerges as a pivotal barometer of the cooperative banking sector’s vitality. Released on September 25, 2025, by Cabinet Secretary for Cooperatives and MSMEs Wycliffe Oparanya, this annual statutory document—mandated under Section 22 of the Sacco Societies Act—chronicles the…
The Cooperatives and MSMEs Cabinet Secretary Wycliffe Oparanya and Saccos Societies Regulatory Authority, SASRA have raised concern over growing exploitation of Kenya’s sacco sector by influential individuals securing massive unsecured loans by bypassing lending thresholds. CS Wycliffe Oparanya warned that prominent figures are infiltrating saccos with minimal savings yet leveraging their status to pressure officials…
The National Assembly’s Public Petitions Committee has questioned the Sacco Societies Regulatory Authority (SASRA) Acting CEO David Sandagi over the allegations of financial mismanagement and ownership disputes at Nandi Teachers Sacco. This comes after the Nandi Hills MP Bernard Kitur filed a petition which raised concerns about how the Sacco handled members’ funds and the…
Kenya’s deposit-taking Saccos have overtaken banks in the affordable loans issuance even though its resources remain overstretched. According to Sacco Societies Regulatory Authority, (SASRA), loans issued to members surpassed deposits by Ksh92.2 billion in 2024, the highest on record. The trend demonstrates the growing reliance on co-operatives for affordable borrowing in a climate of high…
Kenya’s cooperative banking sector, a cornerstone of financial inclusion for millions, is grappling with a deepening liquidity crisis, according to the Sacco Societies Regulatory Authority (SASRA) 2024 Supervision Report, released recently by Cabinet Secretary for Cooperatives and MSMEs Wycliffe Oparanya. The report has exposes a staggering Ksh3.49 billion in unpaid salary deductions owed to 85…
In a stunning revelation that exposes the gaping chasm between Kenya’s political elite and the everyday struggles of ordinary citizens, Members of Parliament, MPs have emerged as the top defaulters in the country’s Savings and Credit Cooperative (Sacco) sector, racking up nearly Ksh1 billion in unpaid loans by the end of 2024. According to the…
The Cooperatives Bill, which is about to become law has put errant employers sitting on huge sums of cash in the form of remittance deductions meant for SACCOs, now estimated at Ksh 3.5 billion at unease state. The Cooperative Bill 2024, published as the National Assembly Bill No. 7 of 2024 on 9th February 2024, has…
Thirty-five savings and credit cooperatives (SACCOs) are staring at possible sanctions after failing to register with the Financial Reporting Centre (FRC) as required under new anti-money laundering regulations. This was revealed by SASRA adding that the stated saccos had not fully registered as reporting institutions mainly on the grounds that they had submitted incomplete applications,…
Cabinet Secretary for Co-operative and MSMEs, Wycliffe Oparanya has declared a suspension on new registrations and banned the use of loans to pay dividends to Sacco members. Speaking during the 34th Special General Meeting of Unaitas Sacco in Nairobi, CS Oparanya said the move is part of a stringent crackdown on poorly managed savings and…
