Hard truths. Bold Insights. Real talk.
The Sacco Societies (Amendment) Bill, 2025, now before the National Assembly, proposes far-reaching changes to the way saccos are regulated. One of its key proposals is to allow members to claim protected deposits from the Deposit Guarantee Fund once a sacco's licence or authorisation has been revoked.
Speaking on Radio Generation on Thursday , Marube said misinformation circulating on social media about the proposed Sacco Societies (Amendment) Bill has caused unnecessary anxiety among millions of cooperative members.
According to Sasra, regulated Saccos were managing 18.95 million deposit accounts worth a combined Sh832.8 billion as of December 2025. Of these accounts, 16.88 million held less than Sh50,000. Together, they accounted for Sh45 billion, representing just 5.36 per cent of the total deposits held within the regulated Sacco sector.
The engagement provided an opportunity for the institutions to align priorities and strengthen cooperation as Kenya works to address outstanding technical and operational deficiencies identified under the FATF review process
At the moment, the President nominates the deputy governors of the Central Bank of Kenya and forwards the names to both the Senate and the National Assembly under the framework of the Parliament. The two Houses then carry out joint approval hearings and later prepare a joint report that is debated in both chambers.
Kiptoo said that although Kenya has made commendable progress since its placement on the Grey List in June 2024, the country must now shift focus from “merely demonstrating progress to achieving significant progress.”