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Originally published by Kenyans
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March 30, 2026
3h ago

PS Announces Stricter SACCO Rules to Protect Members' Deposits

PS Announces Stricter SACCO Rules to Protect Members' Deposits

SACCOs are a massive pillar of Kenya's economy, contributing an estimated 20 per cent to 45 per cent of the national GDP and holding over Ksh1 trillion in assets...

✨ Key Highlights

The Principal Secretary for Cooperatives and MSMEs Development, Kiburi Kilemi, has announced new regulations aimed at safeguarding members' funds in SACCOs. These reforms require vetting for leaders and managers to ensure suitability and prevent mismanagement.

  • New proposals include a fit-and-proper test for all SACCO leaders and senior managers.
  • Key individuals involved include Principal Secretary Kiburi Kilemi and the Sacco Societies Regulatory Authority (SASRA).
  • Reforms will also introduce term limits for leaders and set minimum O-Level education requirements for board members.

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