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.
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