By News Desk
The CEO of the Sacco Societies Regulatory Authority, David Sandagi during the Annual Saccos Leaders Convention.
The CEO of the Sacco Societies Regulatory Authority, David Sandagi, has reaffirmed the regulator’s commitment to strengthening transparency, accountability, and long-term stability within the SACCO sector.
“We must focus on issues that directly affect members — transparency, good governance, and the future stability of SACCOs,” the CEO stated.
Proposed Measures and Reform Agenda
SASRA has indicated plans to:Intensify registration and compliance enforcement for unregulated SACCOsPromote consolidation among smaller or undercapitalized SACCOsStrengthen prudential regulations and liquidity requirementsEnhance policy reforms to align the sector with modern financial standardsFully regulate SACCOs that lack sufficient capital and governance capacity.
The regulator emphasized that consolidation and policy reform are aimed at safeguarding members’ deposits and ensuring sustainable growth within the cooperative movement.
Sector at a CrossroadsKenya’s SACCO movement remains one of the largest in Africa, mobilizing billions in savings and supporting millions of members.
However, the revelation that thousands may be operating outside formal regulatory oversight has intensified calls for urgent reform.SASRA maintains that its reform agenda is designed not to stifle the cooperative spirit, but to secure the future of SACCOs and restore public confidence in the sector.
