Saccos Bill: What members stand to gain, changes MPs want enacted
The Bill proposes to retain a Sh100,000 compensation limit for Sacco members whose institutions collapse...
✨ Key Highlights
The Sacco Societies (Amendment) Bill, 2025, is currently under consideration in the National Assembly, aiming to strengthen the regulatory framework for Saccos and protect members' savings.
- A key provision is the operationalization of the Deposit Guarantee Fund, which would allow members to claim protected deposits if a Sacco's license is revoked.
- The proposed compensation limit for members remains at Sh100,000, a figure that has drawn criticism from some MPs concerned about members with larger savings.
- SASRA CEO David Sandagi defended the Bill, citing the need to improve transparency, supervision, and reduce technology costs for smaller Saccos, with about 92% of deposit accounts holding Sh100,000 or less.
- The Bill also seeks to address challenges like unregulated entities, pyramid schemes, and the investment of deposits in high-risk ventures.
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KRA Nets Record Sh2.8 Trillion in Tax Collections - July 2026
The Kenya Revenue Authority announced record tax collections of Sh2.844 trillion for the financial year ending June, driven by strong performance in the manufacturing and energy sectors. Despite surpassing last year's collections by 10.6 percent, the KRA narrowly missed the Treasury's target. At the same time, apartment prices in Kenya have continued their decline for the fourth consecutive quarter, dropping by 3 percent in the year to March, as an oversupply of flats contrasts with rising demand for standalone homes. Separately, the Sacco Societies (Amendment) Bill, 2025, is currently under consideration in the National Assembly, aiming to strengthen the regulatory framework for Saccos and protect members' savings.
