SACCO Societies Regulatory Authority · SASRA
Regulates Kenya's deposit-taking SACCOs — the segment of co-operative finance that runs FOSA accounts, holds member deposits, and operates like community banks.
Mandate
Established under the SACCO Societies Act, 2008. Mandate: license, regulate, and supervise deposit-taking SACCO societies and specified non-deposit-taking SACCO societies; protect members' interests; promote a stable SACCO sector.
How it works
Licenses deposit-taking SACCOs (DT-SACCOs) and prescribed non-DT SACCOs. Sets prudential standards: capital adequacy, liquidity, deposit-to-share-capital ratios, NPL classification. Conducts on-site and off-site supervision. Intervenes when SACCOs breach rules.
Why it matters
DT-SACCOs hold member deposits comparable in scale to mid-sized banks. SASRA-supervised SACCOs are materially safer than unsupervised ones, but they are not deposit-insured the way commercial bank deposits are (the Deposit Guarantee Fund for SACCOs is being implemented). For Kenyans whose savings sit in a SACCO, SASRA supervision is the meaningful protection.
What to watch
Annual SACCO Supervision Report (typically published mid-year for the prior year). The list of licensed DT-SACCOs. Regulatory directives on share capital, governance, and digital lending by SACCOs.
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