SACCO Stories

Sh3 billion SACCO fraud exposes deep governance, regulatory gaps
Maureen Kinyanjui  |  Jul 04, 2025

These losses, driven by unremitted deductions, liquidity issues, and failure to meet required financial standards, are threatening the stability of th...

Farmers abandon Hustler Fund as CBK report shows shift to banks and digital loans
Lucy Mumbi  |  Jun 23, 2025

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...

Cooperative clean-up: Oparanya targets non-compliant societies in major sector reforms
Lucy Mumbi  |  Jun 05, 2025

CS Oparanya directed that all cooperative societies, including unions, national cooperative organisations, and apex cooperatives, must file their annu...

Oparanya suspends sacco registrations for 3 months as experts review governance laws
Lucy Mumbi  |  May 21, 2025

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...

City Hall targets matatu chaos with new operating rules
Maureen Kinyanjui  |  May 21, 2025

According to the draft Nairobi City County Permit to Operate Regulations, 2025, the county official responsible for public transport will decide how m...

CS Oparanya appoints team to review SACCO Societies Act, appoints new KUSCCO Board
Lucy Mumbi  |  Apr 16, 2025

In a statement issued on Wednesday, Oparanya said the experts would be responsible for reviewing the legislation and proposing amendments to enhance t...

Tribunal lifts NTSA’s ban on Super Metro, allows matatus to resume operation
Maureen Kinyanjui  |  Mar 24, 2025

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...

30 Saccos flagged over capital gaps by regulator
Maureen Kinyanjui  |  Mar 22, 2025

Among those affected, Metropolitan National, Shoppers, Jitegemee, Jumuika, Lamu Teachers, and Ndosha Saccos have been singled out for having core capi...

Ghost shareholding, fake loans used to steal Sh82.3 million from Energy Sacco - report
Lucy Mumbi  |  Feb 27, 2025

The fraud, which occurred between January 2016 and June 2021, was uncovered by Reuben Gitahi & Associates Forensic Services, a firm hired by Energy Sa...

Government orders forensic audit of Saccos after Kuscco Sh13.3 billion fraud
Lucy Mumbi  |  Feb 19, 2025

Oparanya said the audit also seeks to bring corrupt officials to justice, noting that several Saccos across the country were in financial distress, a...

Darajani Gogo registers crucial away win as Fortune Sacco loses ground
Michael Kirwa  |  Feb 16, 2025

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...

Saccos regulatory agency releases list of institutions licensed to operate in Kenya
Maureen Kinyanjui  |  Jan 28, 2025

These saccos are said to have met the necessary regulatory requirements and are authorised to operate from January 1, 2025, to December 31, 2025.

Kilifi-based sacco launches digital overhaul to compete with fintech, enhance services
Farhiya Hussein  |  Sep 24, 2024

The CEO observed that the competitive landscape has evolved, with fintech and digital lenders now posing a greater challenge than traditional banks.

Nairobi’s matatu madness persists as City Hall’s attempts to offer solution fall flat
Maureen Kinyanjui  |  Aug 06, 2024

Pedestrians have to dodge between the parked matatus, risking their lives, as there’s hardly any safe place to walk.

Isiolo municipality seeks resolution with local matatu operators over new Sacco
Waweru Wairimu  |  Jul 16, 2024

The standoff saw the operators boycott work on Monday in protest of the decision, exposing travellers destined for various destinations across the cou...

Travellers stranded as Isiolo matatu operators protest new Sacco
Waweru Wairimu  |  Jul 15, 2024

County Matatu Owners Chairperson Mohammed Ahmed Koroboi said they were not afraid of any competition with new entrants but insisted that the law must...

How women in Kwale are transforming chamas into great companies
Mishi Gongo  |  Jun 21, 2024

Saving groups or chamas have been a lifeline for many women in Kwale County, allowing them to educate their children, purchase property, and even star...

Nine killed, 17 injured after bus plunges into Mbagathi River
Mary Wambui  |  May 18, 2024

Preliminary findings showed that the driver lost control of the bus, which then veered off the road and plunged into the river.

NTSA revokes 64 Sacco licences, warns commuters against using their services
Lucy Mumbi  |  May 02, 2024

The significant move comes as part of the authority's ongoing efforts to enforce safety and regulatory standards within the public transport sector.

NTSA suspends licences for 2 matatu Saccos, orders drivers retested
Bashir Mohammed  |  Mar 29, 2024

Their drivers will also undergo mandatory road safety sensitisation and retesting. 

Sacco promotes financial inclusion of pastoral women
Eastleigh Voice Reporter  |  Mar 10, 2024

A group of women in Samburu County who successfully persuaded their husbands to sell off their animals during the recent drought, Kenya's worst in 40...

Ekeza Sacco probe: Bishop Gakuyo granted Sh1m cash bail or Sh20m bond
Joseph Ndunda  |  Feb 26, 2024

David Kariuki Ngari alias Bishop Gakuyo denied charges of conspiring with others to defraud Ekeza Sacco members of Sh1 billion.

Sh1bn Ekeza Sacco fraud: Bishop Gakuyo detained for three days
Joseph Ndunda  |  Feb 23, 2024

Senior Resident Magistrate Geoffrey Onsaringo granted the orders despite opposition from the suspect's battery of lawyers.

DCI seeks to detain Bishop Gakuyo for 4 days in Ekeza Sacco probe
Joseph Ndunda  |  Feb 22, 2024

David Kariuki Ngari, alias Gakuyo, is being investigated over the alleged theft of more than Sh1 billion from at least 50,000 sacco members.

Three men accused of extorting PSV operators in Eastleigh face robbery with violence charges
Abdimalik Hajir  |  Nov 14, 2023

Three men suspected to be members of a criminal gang allegedly extorting money from PSV operators in Eastleigh, Nairobi, are now facing charges of rob...

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