Proposed 15% tax on Sacco returns divides stakeholders as reforms advance - April 2026

A proposed 15% tax on the returns of Saccos (Savings and Credit Co-operative Societies) in Kenya is creating a rift among stakeholders as proposed financial reforms move forward. Leaders in Kenya's cooperative sector are pushing for reforms to overhaul the governance of SACCOs, aiming to strengthen the financial cooperative movement. The Central Bank of Kenya (CBK) has decided to maintain its benchmark lending rate at 8.75%, aiming to manage inflation expectations and keep them within the desired target range.