Sacco body escapes regulatory coalition

Commissioner for Cooperative Development Mary Mungai addresses delegates during a Kenya Union of Savings and Credit Cooperatives annual delegates meeting in Nairobi. [Photo: Boniface Okendo/Standard]

The Sacco Societies Regulatory Authority (Sasra) will go it alone in strengthening transparency among savings cooperatives after successfully lobbying to be excluded from a looming merger of all financial regulators.

Commissioner for Cooperative Development Mary Mungai said a delegation including 22 leaders of cooperative movements that visited President Uhuru Kenyatta, convinced him to drop Sasra from the merger plan.