As many Kenyans look for savings options, hundreds of Savings and Credit Co-operative Societies (Saccos) have mushroomed across the country, with some not delivering what they promise to their members. 

As a result, many Kenyans have ended up losing their hard-earned savings to fraudsters, and consequently, the Sacco Societies Regulatory Authority (Sasra) is calling upon members of the public, including private and public enterprises to cease undertaking any regulated Sacco business with any entity unless such entity is either licensed or authorised by Sasra.

Sasra has also rolled out an online complaint reporting and inquiry mechanism which is embedded on its website Complaints – SACCO SOCIETIES REGULATORY AUTHORITY (SASRA) to enable members of the public to report any suspicious operations of any entity purporting to undertake regulated Sacco business.

At the commencement of the year 2024, Sasra had a total of 176 Sacco societies duly licensed to carry out deposit-taking (DT-Saccos) business in Kenya, for the period commencing January 1, 2024, to December 31, 2024. Additionally, another 181 Sacco societies are duly authorised to undertake the specified non-deposit-taking (Non-DT-Saccos) business in Kenya for the same period. However, two Sacco societies – Kenya Midland Sacco Society Limited (Bomet) and Jacaranda Sacco Society Limited (Kiambu) licenses were revoked.  

Here is the list of licensed and authorised Sacco societies in Kenya for the financial year ending December 31, 2024. SASRA-LICENSED-AND-AUTHORISED-SACCO-SOCIETIES-IN-KENYA-3-and-Half-pages.pdf