Deal with Saccos diligently in property transactions

In 2016, a FinAccess Household Survey conducted by Financial Strength Deepening Kenya, Kenya National Bureau of Statistics and the Central Bank of Kenya established that Saccos performed better than banks in financing land and building transactions.

Interestingly, Saccos are prohibited by the law from purchasing or acquiring land except as may be reasonably necessary for the purpose of conducting their deposit-taking business. Even in such cases, the purchase has to be approved by the Sacco Societies Regulatory Authority (SASRA).