The fate of 11 deposit-taking savings and credit co-operative societies (saccos) whose temporary licences expired on June 30 will be known by the end of this month when the industry regulator, Sasra, issues its verdict on their compliance with capital and corporate governance rules.
Sasra [the Sacco Societies Regulatory Authority] in January issued the credit unions — including the giant Moi University Sacco and Telepost Sacco — with provisional permits to operate for the first six months of 2017 pending a review.
