The Sacco Societies (Amendment)
Bill, 2025, tabled in parliament in mid-2025, seeks to modernize regulations by
easing liquidity rules for smaller Saccos, strengthening SASRA oversight, and
activating a deposit protection fund with a Sh100,000 payout cap per account.
Critics misread provisions like a
voluntary secondary co-operative for Saccos to pool resources, fearing it
becomes a presidential-controlled entity, though its board would be elected by
members and it can't lend to individuals.
Officials from SASRA and parliament label the panic 'propaganda,' noting no changes to member-elected management or withdrawal rights, as public input continues.