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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.
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:
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the Cabinet secretary for Cooperatives and MSMEs, advised the public to avoid investing in SACCOs whose licenses have been revoked.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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SACCOs in Kenyan counties.
Counties of Kenya | Mappr
List of all county numbers in Kenya Tuko.co.ke