
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 regulator seeks more powers to save troubled societies https://t.co/pn9PxEh3wX https://t.co/nFt8ckIJDd
Kenya’s national regulator for saccos is seeking more powers to tame the trend of troubled credit and savings organisations going bust without recourse. https://t.co/a0Cc00fhZv
Financial inclusion African inclusive finance week to be held in October Event to address barriers limiting access to finance #CitizenFridayNight @lillian_muli https://t.co/qPwOTjtVo9