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Saccos registration halted for 3 months on reforms
Cooperatives and Micro, Small, and Medium Enterprises Cabinet Secretary Wycliffe Oparanya addressing journalists during the inauguration of the Committee of Experts to review the Sacco Societies Act and the inauguration of the new Kenya Union of Savings and Credit Cooperative Organisations (Kuscco) Board at NSSF Building in Nairobi on May 21, 2025.
The Ministry of Cooperatives has announced a moratorium on the registration of new Saccos for at least three months as it begins the process of overhauling the sector’s regulations.
The move comes after a multi-billion-shilling fraud was uncovered at Kenya Union of Savings and Credit Cooperatives (Kuscco) in which scores of individual Saccos lost all or part of their deposits.
