Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
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…
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…
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…
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…
Savings and Credit Cooperative Societies (SACCOs) are being challenged to tighten their systems and take insurance covers on the back of rising cyber-attacks in the era of digital transactions. Cooperatives are increasingly gaining prominence among formal and informal workers and currently hold over Sh800 billion customer deposit—a sum that makes them a target of cyber…
The Sacco Societies Regulatory Authority (SASRA) has expressed concern that, despite the immense value of credit scoring, SACCOs have been slow to fully adopt credit referencing, resulting in gaps in credit decision-making. The regulator also highlights challenges in implementing effective credit-scoring systems, which have hindered responsible lending and undermined long-term financial stability. However, some senior…
President William Ruto has assented to the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025. The head of state also signed into law the Insurance Professionals Bill (National Assembly Bills No. 13 of 2024). The Anti-Money Laundering and Combating of Terrorism Financing legislation is designed to strengthen Kenya’s framework for tackling money…
The Sacco Societies Regulatory Authority (SASRA) has expressed concerns that while credit scoring has immense value, SACCOs have been slow to adopt credit referencing fully, creating gaps in credit decision-making. The regulator also points to challenges in implementing effective credit-scoring systems, which have hampered responsible lending and long-term financial stability. According to the latest SACCO…
Manager of Market Conduct Supervision at the Sacco Societies Regulatory Authority (SASRA), Anne Kago has said the financial and Sacco sector is constantly evolving, and staying ahead of regulatory trends is key to growth and compliance. Addressing a gathering of Sacco leaders and financial experts, she broke down the latest regulatory shifts shaping the industry,…
The Central Bank of Kenya (CBK) plans to put in an estimated Ksh 180 million into a Deposit Guarantee Fund (DPF), designed to provide a financial safety net for individuals and corporate entities that hold huge deposits in Deposit-Taking Savings and Credit Cooperative Societies (SACCOs). This yet-to-be-established fund is part of the latest reforms in…
