Oparanya Proposes ‘Fuliza for SACCOs’ as SASRA Pushes Reforms to Boost Transparency and Stability
Kenya’s cooperative sector is poised for significant reforms following proposals by Cabinet Secretary for Cooperatives and MSMEs Development Wycliffe Oparanya and renewed regulatory commitments from the Sacco Societies Regulatory Authority (SASRA). Speaking amid growing scrutiny of SACCO governance and financial stability, SASRA Chief Executive Officer David Sandagi reaffirmed the regulator’s commitment to transparency, accountability, and long-term sector stability. “We must focus on issues that directly affect members — transparency, good governance, and the future stability of SACCOs,” he stated. Proposed Reform Measures SASRA has outlined a reform agenda aimed at strengthening oversight and protecting member deposits. Key proposals include: Intensifying registration and compliance enforcement for unregulated SACCOs Encouraging consolidation of smaller or undercapitalized SACCOs Strengthening prudential regulations and liquidity requirements Aligning policies with modern...