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How big borrowers pressure saccos for unsecured loans
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 Sacco Societies Regulatory Authority (Sasra) and the Ministry of Co-operatives have raised the alarm over a growing trend where influential individuals are infiltrating savings and credit co-operative societies (saccos) with the aim of taking huge unsecured loans.
The prominent figures reportedly make minimal deposit contributions to saccos but later use their influence to pressure officials into advancing them loans far above their savings threshold.
