SASRA - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

SASRA flags Ksh3.49 Billion Non-Remittance crisis, warns of looming SACCO instability

Sacco ReviewSeptember 26, 202504 mins

The SACCO Societies Regulatory Authority (SASRA) has sounded the alarm over a deepening non-remittance crisis that threatens the financial stability of Kenya’s regulated SACCOs. In its SACCO Supervision Annual Report 2024, the regulator revealed that employer institutions, many of them government-linked have failed to remit over Ksh 3.49 billion in member deductions, up from Ksh…

Matatu SACCOs risk shut down as CS Oparanya orders for review

Sacco ReviewSeptember 25, 202505 mins

Cabinet Secretary (CS) for Co-operatives and MSMEs Development, Wycliffe Oparanya, has raised concerns over the misclassification of Transport Cooperatives as Savings and Credit Cooperative Societies (SACCOs), urging for a comprehensive review of their structure and regulatory oversight. Speaking during the official release of the Sacco Supervision Annual Report 2024, Oparanya noted that several entities operating…

CS Oparanya calls for strict oversight of audited SACCO accounts to boost accountability

Sacco ReviewSeptember 25, 202503 mins

The Co-operatives and MSMEs Development Cabinet Secretary, CS Wycliffe Oparanya have called for financial accountability, directing Sacco Societies Regulatory Authority (SASRA) and the Commissioner of Cooperatives to enforce strict oversight of audited SACCO accounts. Speaking during the SACCO Supervision Annual Report 2024 launch in Nairobi, CS Oparanya said such reforms is aimed at tightening financial…

Kenya’s SACCO sector surges past Ksh 1 trillion, CS Oparanya reveals

Sacco ReviewSeptember 25, 202507 mins

In a resounding affirmation of the cooperative movement’s vitality, Kenya’s Savings and Credit Cooperative Organizations (SACCOs) have shattered the Ksh 1 trillion barrier in total assets, cementing their status as a cornerstone of the nation’s financial ecosystem. The landmark achievement was unveiled by Cabinet Secretary for Cooperatives and Micro, Small, and Medium Enterprises (MSMEs), Wycliffe…

SASRA releases new policy to address Sacco members’ complaints

Sacco ReviewSeptember 14, 2025010 mins

The Sacco Societies Regulatory Authority (SASRA) released a new Model Complaints Handling Policy for regulated Saccos to strengthen the complaints management framework within the sector, ensuring alignment with best practices and regulatory requirements. According to SASRA the policy will provide a standardized and adaptable approach for Saccos to address member complaints effectively, transparently, and fairly….

Afya Sacco to hold delegates meeting amid financial irregularities

Sacco ReviewSeptember 6, 202503 mins

Afya Co-operative Savings and Credit Society Limited has convened a Virtual Delegates Meeting on September 22, 2025, as pressure mounts over a KSh550 million scandal that has rocked the country’s 60 year-old Sacco. The meeting notice, signed by Honorary Secretary A. Maweu, outlines a tense agenda that includes adopting financial statements, approving the 2026 budget,…

SASRA cautions Kenyans on rogue SACCOs, sets 2026 renewal deadline

Sacco ReviewAugust 26, 2025August 26, 202505 mins

The Sacco Societies Regulatory Authority (SASRA) has cautioned Kenyans to be vigilant before saving their money with Savings and Credit Cooperative Organisations (SACCOs). In a public notice issued on August 25, the regulator raised concern that some cooperatives are still operating without valid licenses, which it warned is unlawful under the Sacco Societies Act. SASRA…

CPA Sandagi takes over as Ag CEO SASRA as Njuguna’s term ends

Sacco ReviewAugust 19, 202504 mins

Certified Public Accountant David Amiani Sandagi has been appointed acting chief executive officer for the Sacco Societies Regulatory Authority (SASRA) after completion of the term of CPA Peter Njuguna. In a statement issued on Tuesday, SASRA indicated that Sandagi has been appointed by the Board of Directors in consultation with the Cabinet Secretary, Ministry of…

Afya Sacco in crisis as SASRA probes KSh550 million misappropriation

Sacco ReviewAugust 14, 202504 mins

The Sacco Societies Regulatory Authority (SASRA) has launched a recovery effort targeting over KSh550 million allegedly misappropriated by the management of Afya Sacco Society Ltd. The regulator’s intervention follows a damning inspection report that uncovered a trail of unaccounted withdrawals, excessive allowances, and undocumented cash transactions spanning more than two years. According to a letter…

Government bans SACCOS from non-core investments amid financial crisis

Sacco ReviewAugust 7, 202507 mins

The government has barred all Savings and Credit Cooperative Societies (SACCOs) in Kenya from investing in non-core business activities until proper regulations and supervisory frameworks are in place. This decision comes amid rising concerns over financial mismanagement and instability within the SACCO sector, which has seen some cooperatives plunge into financial turmoil due to unregulated…