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Celestine Gachuhi is a renowned Kenyan actress known for her leading role in the popular drama series Selina.
Ms Gachuhi spoke to Spice Magazine about.
Q&A With SACCOs Authority CEO John Mwaka
Sacco Societies Regulatory Authority(Sasra) CEO John Mwaka faced questions about the Sacco sector from members of the public via Sunday Nation.
The limitation on the number of saccos one can belong to (no more than one serving similar purpose) is discriminative and nowhere else is such a principle applied. What is so unique about saccos?
Joan Nafula, Maseno
The rationale is to avoid SACCOs from competing in an unhealthy way. For, instance, if we allow this practice, an employer will be in a dilemma on which deduction should be implemented first if both of them require loan repayment from the same payroll. However, a person can belong to more than two cooperatives if they do not serve the same objective. An employee with a tea plantation can belong to an employer-based Sacco and also one that receives payment for tea proceeds.
SACCOs Put on Notice in Govt Crackdown
File image of Kenyan bank notes
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The government is set to embark on a crackdown on Savings and Credit Co-operatives (SACCOs) in Kenya
In a notice by the Societies Regulatory Authority (SASRA) CEO
John Mwaka on Friday, January 29, the SACCOs undertaking the specified non-deposit-taking SACCO (BOSA) business were given various deadlines to comply with components of the Acts and the Regulations 2020.
The institutions are required to provide the detailed particulars and other information relating to the SACCO Societies within the next thirty days (since the date of publication of the notice) by completing the detailed particulars and information of non-withdrawable deposit-taking SACCO societies.