SACCO Moves to Recover KSh 108.8mn from Insolvent KUSCCO
A Christian-based SACCO has obtained court orders to auction the movable assets of the KUSCCO to recover KSh108.8 million in unpaid deposits.
SACCOs’ Assets Grow By Double-Digits, But Bad Loans Soar
Sacco Regulator Clears New Saccos as Sector Tightens Compliance Rules
Sasra has licensed a new batch of Saccos to operate, as the regulatory body moves to balance its dual mandates to expand the sector while protecting members’ contributions35 SACCOs Risk Sanctions as Regulator Escalates Anti-Money Laundering Crackdown
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. SASRA noted: “A [...]SACCOs Face KSh 3.5bn in Unremitted Funds from Employers
Kenya’s regulated savings and credit cooperatives (SACCOs) are facing renewed financial strain as non-remitted funds owed by employers jumped to KSh 3.49 billion in 2024, up from KSh 2.59 billion [...]Kenya's Saccos Cross KSh 1 Trillion in Combined Assets
Kenyans are saving in, and borrowing more from, Saccos than ever before, pushing the sector’s assets past KSh1 trillion by the end of 2024, but the sector is grappling with [...]Co-op Bank SACCO Wins as Kenya Marks Global Cooperatives Year
Co-operative Bank of Kenya’s employer-based savings and credit unit, NWDT Sacco Society, has been ranked the best performing large- and medium-tier non-withdrawable deposit-taking (NDT) SACCO during the country’s 2025 Ushirika [...]Sacco Scandals Fire Gov't into Action, But Will Reforms Hold?
The government has moved to protect interest of members in the Savings and Credit Cooperative Societies (SACCOS) following growing cases of mismanagement leading to the total or near collapse of [...]Troubled KUSCCO to Auction 50 Properties in June
The Kenya Union of Savings and Credit Co-operatives (KUSCCO) is preparing to auction off a portfolio of real estate assets in a nationwide campaign, with 50 properties slated to go [...]Metropolitan Sacco Penalised for Clinging to Member’s Deposit
The Cooperatives Tribunal has ordered struggling Metropolitan SACCO to refund a member’s Ksh 351,258.71 deposit plus costs and interest after failing to prove why it had not done it despite [...]Stima Sacco Shrugs Off KSh 108 Million KUSCCO Hit as Profits, Assets Surge in 2024
Stima Sacco is seeking to recover KSh 108 million it invested in the Kenya Union of Savings and Credit Cooperatives (KUSSCO) but says the amount is insignificant to its full-year [...]Troubled KUSCCO Auctions Members Properties
The troubled Kenya Union of Savings and Credit Cooperatives (KUSCCO) is auctioning multimillion properties of members, ostensibly for defaults, as it grapples with loss of funds due to mismanagement. In [...]
