Mar 21, 07:05 PM

Kenya's Sasra Puts 30 Saccos on Notice Over Capital Inadequacy, Plans Stringent Measures Ahead of October Event

Kenya's national regulator for savings and credit cooperatives (saccos) is taking action to address capital inadequacies and instability within the sector. Recently, 30 saccos have been put on notice due to concerns over their capital levels. The regulator, the Sacco Societies Regulatory Authority (Sasra), has indicated that it may implement stringent measures to enhance the regulation of sacco lending practices. This comes amid warnings that gaps in the use of credit information sharing among saccos could threaten the overall stability of the financial system. In a related development, an African inclusive finance week is scheduled for October, aimed at tackling barriers to financial access in the region.

#Kenya #Sacco Societies Regulatory Authority #Sasra #African

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Kenya's Sasra Puts 30 Saccos on Notice Over Capital Inadequacy, Plans Stringent Measures Ahead of October Event

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