The savings and credit cooperative societies (saccos) regulator has urged societies sponsored by public universities to only lend members with salary accounts to tame rising non-performing loans, which are edging towards Sh3 billion.
The move followed findings that the amount of loan repayments, which were deducted from salaries of sacco members but not remitted by public universities and tertiary colleges more than tripled in three years to Sh2.68 billion in 2020.
