×
App Icon
The Standard e-Paper
Read Offline Anywhere
★★★★ - on Play Store
Download Now

Non-deposit-taking Saccos to start paying regulatory levy

Vocalize Pre-Player Loader

Audio By Vocalize

Kenya Union of Savings and Credit Co-operatives Limited's CEO George Ototo shares a word with Sasra CEO Peter Njuguna during the 3rd day of the KUSCCO's 7th Annual Sacco Leaders Convention. [Kelvin Karani, Standard]

Non-deposit-taking Saccos will beginning this month pay an annual regulatory fee as they fully come under the purview of the industry regulator - the Saccos Societies Regulatory Authority (Sasra).

The Annual Sacco Societies Levy has been put at 0.1 per cent of the total non-withdrawable deposits held by a Sacco as per its audited accounts for the preceding year.

Premium Article

Get Full Access for Ksh299/Week.

Uncover the stories others won't tell. Subscribe now for exclusive access.
Continue Reading  →
What you get
  • Unlimited access to all premium content
  • Ad-free browsing experience
  • Mobile-optimised reading
  • Weekly newsletters & digests
Pay via
M - PESA
VISA
Airtel Money
Secure Payments Kenya's most trusted newsroom since 1902
By Brian Ngugi 17 hrs ago
Business
Dangote favours Mombasa over Tanzania's Tanga for Sh2tr oil refinery
Business
Pipeline politics: Why East Africa's joint refinery dream faces slippery path
Business
Debt burden: Inside Treasury's plan to trap Kenya with billions in hidden debt
By Brian Ngugi 20 hrs ago
Business
State plans major audit shakeup to stem graft, wastage of funds