- The Sacco Societies Regulatory Authority (SASRA) has published the Sacco Supervision Report for 2023, detailing the distribution of regulated Deposit Taking SACCOs (DT-SACCOs)
- Nairobi City has the highest number of SACCOs, with a total of 176, significantly outnumbering other counties
- Several counties, including Vihiga, West Pokot, and Garissa, have SACCO branches but lack head offices, indicating a disparity in SACCO presence
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Elijah Ntongai, a journalist at TUKO.co.ke, has more than three years of financial, business, and technology research expertise, providing insights into Kenyan and global trends.
The Sacco Societies Regulatory Authority (SASRA) released the Sacco supervision report for 2023.
The report highlighted the number of regulated Deposit Taking-SACCOs (DT-SACCOs) across various counties in the country.
SASRA conducts physical on-site inspections before licensing a new DT-SACCO or authorising a new Non-Withdrawable DT-SACCO.
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SASRA inspects the head offices to assess their levels of compliance with all the necessary regulations.
Counties with highest number of SACCOs
Sasra noted that some counties lack any SACCO head office but are serviced by branches. These counties include Vihiga, West Pokot, Garissa, Isiolo, Makueni, Mandera, Tana River, Turkana, and Wajir.
The list below shows the number of regulated SACCO head offices in each county as per the report by SASRA:
- Nairobi City - 176
- Kiambu - 30
- Meru - 16
- Mombasa City - 16
- Nakuru City - 9
- Nyeri - 9
- Embu - 7
- Nandi - 7
- Bomet - 6
- Kericho - 6
- Kirinyaga - 6
- Kajiado - 5
- Machakos - 5
- Nyandarua - 5
- Kisumu City - 4
- Murang’a - 4
- Kakamega - 3
- Kilifi - 3
- Kisii - 3
- Kitui - 3
- Siaya - 3
- Tharaka-Nithi - 3
- Trans Nzoia - 3
- Uasin Gishu - 3
- Baringo - 2
- Bungoma - 2
- Elgeyo/Marakwet - 2
- Homa Bay - 2
- Laikipia - 2
- Narok - 2
- Samburu - 2
- Busia - 1
- Kwale - 1
- Lamu - 1
- Marsabit - 1
- Migori - 1
- Nyamira - 1
- Taita-Taveta - 1
SACCO licenses revoked
Earlier, TUKO.co.ke reported that some DT-SACCOs had their licenses revoked for failing to maintain the required prudential ratios and not applying for renewal.
Wycliffe Oparanya, the Cabinet secretary for Cooperatives and MSMEs, advised the public to avoid investing in SACCOs whose licenses have been revoked.
According to the 2023 supervision report, there were 176 DT-SACCOs licensed by SASRA at the beginning of the year.
SASRA granted deposit-taking licenses to two SACCOs, Njiwa SACCO Society Ltd and Jogoo SACCO Society Ltd, previously authorised for non-deposit-taking business.
Proofreading by Mercy Nyambura Guthua, journalist and copy editor at TUKO.co.ke
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