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Speaking on Radio Generation on Thursday, he said the continued growth of SACCOs reflects their ability to address gaps that other financial institutions have been unable to fill.
Hassan has likened SASRA's role in the Sacco industry to that of the Central Bank of Kenya in the banking sector.
Speaking on Radio Generation on Tuesday, Mwinamo argued that SACCOs remain one of the few reliable financing options for small and medium-sized enterprises (SMEs), many of which struggle to access bank loans.
According to Kindiki, the new law, together with ongoing reforms in the SACCO sector, will strengthen oversight mechanisms and help safeguard deposits held by cooperative institutions.
The initiative seeks to expand lending to viable businesses by partnering with commercial banks, SACCOs, microfinance banks and digital credit providers, with the goal of supporting enterprise recovery and promoting long-term economic growth
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.
According to the SACCO Societies Regulatory Authority (SASRA) Quarterly Statistical and Soundness Report released by The Sacco Regulator on Monday, for the period ending March 2026, lending to the land and housing sector remained the largest credit segment, accounting for Sh33.74 billion of the Sh115.73 billion advanced across all economic sectors
Under the directive, NTSA has suspended the licensing of new public transport operators, including Saccos and companies, for a period of 24 months. The Authority has also halted the addition of new routes and extension of existing routes for 12 months.
He further cautioned that persistent governance challenges remain a major threat to the cooperative movement, calling for stronger accountability mechanisms to safeguard public confidence in Saccos.
Speaking during the event, Ruto confirmed that he will personally join the Sacco and contribute to its initial capital base following consultations with Cooperatives and MSMEs Cabinet Secretary Wycliffe Oparanya.
PS Kilemi outlined that the government had sought to improve transparency in the coffee value chain by separating responsibilities among regulatory agencies
The Bill is designed to replace the current Co-operative Societies Act and align the sector with the 2010 Constitution and devolution