CS Munya confirms Peter Njuguna as Sasra chief executive

Peter Njuguna has been confirmed as the substantive chief executive officer of the Sacco Societies Regulatory Authority (Sasra) effective August 23.

Mr Njuguna has been serving as the acting CEO since April following the exit of John Mwaka.

He was approved and appointed by the Agriculture, Livestock, Fisheries and Cooperatives Cabinet Secretary Peter Munya.

Sasra chairman John Munuve said the board was confident he would steer the regulator to the next level.

“Mr Njuguna’s appointment is part of a broader strengthening of the Authority’s operational and service excellence, aligned to its strategic transformation plan,” he said in his congratulatory message.

Prior to his appointment, Mr Njuguna served as the chief manager, saccos supervision, a position he has held since joining the Authority in 2010.

In 2019, he was appointed by the CS to head a task force o formulate new regulations to police activities of saccos, including filing regular audits on capital, liquidity and operations. The government introduced the rules last year.

The certified accountant was also a member of the Joint Financial Sector Regulators Forum, which brings together the Central Bank of Kenya, Sasra, retirement benefits, insurance and capital markets authorities.

Mr Njuguna previously worked with the World Council of Credit Unions’ (WOCCU) Kenya.

He holds a masters degree in Management Science from the London School of Economics and a bachelor’s in Mathematics from the University of Nairobi.