Banned Saccos appeal to government over decision

National Chairman of KUSCCO LTD Mark Magutu (from left ), SASRA CEO Carilus Ademba and USAID representative Mark Rostal during the SACCO Leaders Forum sponsored by USAID of America today 26/09/14 Nairobi PHOTO Moses Omusula

Nairobi; Kenya: The more than 30 Saccos blocked from offering banking services after failing to meet statutory requirements two months ago, have appealed to the Government to lift the ban. The Sacco credit unions claim the ban will subject their clients to serious consequences such as travelling long distances to seek services and increase the cost of accessing credit.

The Saccos have now petitioned the Ministry of Industrialisation and Enterprise Development to extend the deadline by a year to enable them comply. Kenya Union of Savings and Credit Cooperative Societies (Kussco) last week faulted the State’s action, saying it will frustrate the saving culture promoted by the cooperative movement.