Deposit-taking Savings and Credit Cooperative Societies (Saccos) have moved closer to setting up a central liquidity facility to enable them to lend to each other to meet unexpected or unusual short-term cash flow shortfalls.
The Sacco Societies Regulatory Authority chief executive Peter Njuguna says his agency is drafting amendments to existing laws to pave way for approval by the National Assembly to set up the inter-Sacco lending window.
