Matatu Saccos Stories
The petitioners highlighted the collapse of several PSV insurers over the past two decades citing widespread fraud.
Some Saccos are notorious for reckless driving and poor service, while others are praised for discipline, reliability, and professionalism. The Sacco...
The FRC tracks suspicious financial activities through reports filed by banks, mobile money providers, forex bureaus, and SACCOs. SASRA supervises SAC...
National Assembly’s Public Petitions Committee, chaired by Muchangi Karemba, questioned David Sandagi on SASRA’s role in supervising the Sacco since i...
Deposit-taking Saccos, which dominate the industry with over 80 per cent of assets, loans, and deposits, showed improved financial strength.
The audit exposed a pattern of financial malpractice, including book tampering, large-scale theft by senior executives, bribery, suspicious bank withd...
Currently, Sasra only oversees Saccos with deposits of Sh100 million or more, leaving many smaller co-operatives under the Commissioner of Co-operativ...
The move, which is part of regulating the Sacco industry, requires that those genuinely engaged in savings and credit business apply to be regulated b...
The Central Bank of Kenya raised the base lending rate to 13 per cent in February 2024 and maintained it until August, driving some commercial lenders...
UASU official Duncan Mukhwana said the union is aware of attempts to force lecturers back to work through threats of termination.
Universities Academic Staff Union said negotiations with the university management, led by Vice Chancellor Prof Kiplagat Kotut, have failed to yield a...
Acting Vice-Chancellor, Prof Kiplagat Kotut, said the University is actively engaging with UASU leadership, the Ministry of Education, and other relev...
Hannington Oloo Ogumbo, Duncan Ochola, Vitalis Owino, and Daniel Ochieng Ojwang are accused of killing Dickson Otieno Ombaka, an employee of the same...
CS Wycliffe Oparanya said county administrations have withheld millions of shillings deducted from Sacco members, especially medical staff, plunging s...
The proposed changes, introduced through the Sacco Societies (Amendment) Bill, 2025 by Majority Leader Kimani Ichung’wah, aim to offer financial prote...
Defending the cooperative movement, PS Patrick Kilemi said Kenya has over 7,000 registered financial cooperatives, ranking top in Africa and sixth glo...
Mudavadi emphasised that cooperatives offer a more stable and inclusive financial model, capable of anchoring Kenya’s economy on local capital, partic...
Fringe benefits tax applies to employees, directors, or their relatives who receive welfare perks such as low-interest loans from their employers. The...
These losses, driven by unremitted deductions, liquidity issues, and failure to meet required financial standards, are threatening the stability of th...
The CBK survey shows a significant shift in farmers’ borrowing habits, with more now opting for commercial banks and digital loan platforms to fund th...
CS Oparanya directed that all cooperative societies, including unions, national cooperative organisations, and apex cooperatives, must file their annu...
Oparanya announced that registration of new saccos will be paused for three months to allow a newly constituted committee of experts to undertake a re...
According to the draft Nairobi City County Permit to Operate Regulations, 2025, the county official responsible for public transport will decide how m...
In a statement issued on Wednesday, Oparanya said the experts would be responsible for reviewing the legislation and proposing amendments to enhance t...
In a ruling issued on Monday, the board certified the case as urgent and allowed Super Metro to resume operations immediately while awaiting the full...
Among those affected, Metropolitan National, Shoppers, Jitegemee, Jumuika, Lamu Teachers, and Ndosha Saccos have been singled out for having core capi...
The fraud, which occurred between January 2016 and June 2021, was uncovered by Reuben Gitahi & Associates Forensic Services, a firm hired by Energy Sa...
Oparanya said the audit also seeks to bring corrupt officials to justice, noting that several Saccos across the country were in financial distress, a...
The win increases their points tally to 33, putting them three points behind Kibera Black Stars, who in third place with 36 points, occupy the promoti...
These saccos are said to have met the necessary regulatory requirements and are authorised to operate from January 1, 2025, to December 31, 2025.
