The Kenyan government has issued a stern warning against the proliferation of fraudulent Saccos (Savings and Credit Cooperative Societies) being established to defraud citizens, especially ahead of the 2027 General Election.

• The government is set to tighten regulations, requiring a minimum capital base of Sh10 million for new Saccos seeking licensing.
• Cooperatives and MSMEs Development Cabinet Secretary Wycliffe Oparanya highlighted concerns about the vast number of dormant cooperatives, with only around 2,000 out of over 30,000 actively filing returns.
• Plans are underway to increase the minimum membership required to register a Sacco from ten to 1,000 members to ensure viability.