The Sacco Societies Regulatory Authority’s (SASRA) new Board of Directors has been inaugurated by the Cabinet Secretary for Co-operatives and MSME Development Simon Chelugui.
The SASRA Board of Directors comprises of Jack Ranguma as Board Chairman, an alternate to the CBK Governor, Roselyne Ragama, Corporation Secretary, Alice Mwololo, Alternate, PS National Treasury, Timothy Kihara, Methuselah Rono, Peter Njuguna, Chief Executive Officer, Freda Moraa and David Obonyo, Commissioner of Cooperatives.
“The Kenya Kwanza Administration through its Bottom-up Economic Transformation Agenda (BeTA) identified Cooperative enterprises as a key enabler in its mission to uplift and improve the economic status and livelihood of millions of Kenyans”, said CS Chelugui.
The SACCO subsector is a key segment of Cooperatives in Kenya and serves a majority of the very low-and medium-income earners, through provisions of their affordable financial services and products.
SASRA is the government’s principal agency responsible for supervision and regulation of SACCO Societies in Kenya. The Authority’s principal responsibility is to license SACCO Societies to undertake Deposit Taking Business, and to supervise and regulate both Deposit Taking and Specified Non-Deposit Taking SACCO Societies.
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