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The deal formalises the Sacco Societies Fraud Investigation Unit (SSFIU) that will detect and investigate crimes linked to embezzlement of members’ funds and cyber-related attacks.
The East African Monday February 08 2021 According to officials, the Sacco fund will be run and managed by Sasra with funding coming from both the Saccos and the government - edging out banks from the sector. PHOTO | FILE Summary Under the new regime, Saccos will run their own inter-Sacco market where they can lend and borrow from each other at reasonable rates. Advertisement Kenyan Savings and Credit Co-operative Societies (Saccos) are moving closer to the implementation of an inter-Sacco lending market and eventual integration into the National Payments and Clearing system in a development...
The sacco sub-sector defied the economic challenges resulting from Covid-19 last year to record a 14 per cent growth in assets.
THE STANDARD By Kirsten Kanja | February 3rd 2021 at 15:48:08 GMT +0300 CS Peter Munya (PHOTO: Wilberforce Okwiri) NAIROBI, KENYA: Non-deposit taking Saccos holding deposits worth Sh100 million and above have up to the end of June to apply for an authorisation to operate from the Saccos Societies Regulatory Authority (Sasra). This follows the publication of the SACCO Societies (Non-deposit taking business) regulations, 2020, which took effect on January 1, 2021. Non-deposit taking SACCOs refer to those that take deposits from members only in the form of share capital. These amounts are refu...