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Sacco gets regulator’s nod to mobilise deposits

Bingwa Sacco Chairman Cyrus Kabira. [File, Standard]

Bingwa Sacco is the latest financial institution to join an expanding list of deposit-taking savings and credit cooperative organisations.

During its recent annual general meeting, the Sacco got the nod from the Sacco Societies Regulatory Authority (Sasra) to begin taking deposits from the public, in what will help it increase its membership and grow its loan book.

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