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Saccos with 3-year audit lapse now face deregistration
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.
Savings and credit cooperatives societies (Saccos) that have not filed audited financial statements with the Ministry of Co-operatives for the past three years, will be deregistered and stopped from mobilising deposits.
Ministry of Co-operatives and Micro, Small and Medium Enterprises Development Wycliffe Oparanya said there has been an increasing number of co-operatives failing to file their annual returns, including approved copies of audited financial statements, leaving government and members in the dark.
