K
Originally published by Kenyans
📰 Read Full Article
top
July 24, 2025
5d ago

Inside New Plan to Regulate SACCOs After KUSCCO Scandal

Inside New Plan to Regulate SACCOs After KUSCCO Scandal

This follows the Ksh15 billion scandal involving SACCOs...

✨ Key Highlights

The Kenyan Parliament is proposing new regulations for SACCOs through the Sacco Societies (Amendment) Bill, 2025, aimed at enhancing oversight and accountability following the KUSCCO scandal.

  • A fine of up to Ksh3 million or a jail term not exceeding five years may be imposed for non-compliance with the new rules.
  • The bill is sponsored by Kimani Ichung'wah, the Leader of Majority in the National Assembly.
  • Proposals include the regulation of Central Liquidity and Shared Services and the introduction of mandatory liquidity reserve accounts for SACCOs.

Continue Reading

Read the complete article from Kenyans

📰 Read Full Article