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

SACCOs need strong IT systems, Insurance covers amid cyber-attacks rise

Sacco ReviewJuly 15, 202509 mins

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…

SASRA decries SACCOs slow adoption of credit scores in loan appraisals

Sacco ReviewJuly 4, 2025July 4, 202509 mins

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 Ruto assents Anti-Money Laundering bill that empowers SASRA in regulating Saccos

Sacco ReviewJune 17, 202505 mins

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…

Why SACCOs are reluctant to use Credit Scores in loan appraisals

Sacco ReviewJune 14, 2025013 mins

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…

SASRA urges Sacco to embrace modern technology and strict compliance for sustainable growth

Sacco ReviewJune 13, 2025June 13, 202506 mins

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,…

CBK to pump KSh 180m into SafetyNet to Protect SACCO Cash

Sacco ReviewJune 3, 2025June 4, 202509 mins

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…

Why SACCOs are reluctant to use Credit Scores in loan appraisals

Sacco ReviewMay 30, 2025June 2, 2025013 mins

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…

CBK to pump KSh 180m into SafetyNet to protect SACCO cash

Sacco ReviewMay 27, 202509 mins

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…

Parliament passes Anti-Money Laundering Laws Bill, proposes to amend Sacco Act

Sacco ReviewApril 18, 202507 mins

The National Assembly has passed the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2025. The bill will see amendment of the Sacco Societies Act (Cap. 490B), empowering the Sacco Societies Regulatory Authority (SASRA) in regulating the Saccos, the societies have mobilized deposits of members to the tune of more than ksh 1…

Senator petition Senate to probe collapse of Metropolitan SACCO

Sacco ReviewApril 17, 2025April 17, 202503 mins

Nominated Senator Tabitha Mutinda has petitioned the Senate to urgently probe the financial collapse of Metropolitan National SACCO Limited. Auditors had uncovered Kshs12 billion loss, over 75,000 members were unable to access their savings. Senior officers were dismissed and replaced by a caretaker committee in 2022. In a Statement to the Senate Committee on Trade,…