CS Oparanya Announces 5 New Conditions for SACCO Registrations

Oparanya said the new measures will help build stronger and more resilient SACCOs that can effectively support financial inclusion and contribute to Kenya's economic growth...

✨ Key Highlights

Kenya's Cooperatives Cabinet Secretary Wycliffe Oparanya has lifted the suspension on the registration of new Savings and Credit Cooperative Organisations (SACCOs), introducing stricter requirements for applicants.

New SACCOs must have a Ksh1.2 million minimum institutional capital, excluding member deposits.
The key figure involved is Cooperatives Cabinet Secretary Wycliffe Oparanya.
The suspension was previously imposed in May last year due to operational and governance issues within existing cooperatives.

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