MPs Warn Kenyan Could Lose Savings Under New SACCO Payout Plan

The legislators argued that the proposed compensation cap could leave SACCO members exposed to significant financial losses...

✨ Key Highlights

Members of a National Assembly Committee have strongly opposed a proposal to cap payouts for members of collapsed SACCOs at Ksh100,000.

The proposed payout cap of Ksh100,000 for members of collapsed SACCOs is facing significant pushback.
Key players include the Departmental Committee on Trade, Industry and Cooperatives and the SACCO Societies Regulatory Authority (SASRA).
The committee argues this limit would unfairly expose members with substantial savings to large financial losses, advocating for a more equitable deposit insurance model.

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