The Cabinet Secretary for Co-operatives and MSME Development, Dr. Wycliffe Oparanya, will officially release the 2024 SACCO Supervision Report tomorrow. This important statutory publication offers comprehensive insights into the operations, performance, and compliance levels of regulated Sacco Societies in Kenya.
The report, prepared annually by the Sacco Societies Regulatory Authority (SASRA), serves as a vital tool for policymakers, industry stakeholders, and participants in the cooperative movement. It highlights financial performance, membership growth, asset distribution, and governance trends among deposit-taking SACCOs and non-withdrawable deposit-taking SACCOs (NWDTs).
The 2024 edition is expected to illuminate the sector’s resilience in the face of economic challenges, the digital transformation in service delivery, and the progress made in enhancing regulatory compliance. Additionally, it will provide insights into the contribution of SACCOs to national development, particularly in promoting financial inclusion and supporting micro, small, and medium enterprises.
Kenya’s cooperative sector continues to be a key driver of social and economic empowerment, with millions of members relying on SACCOs for affordable credit, savings, and investment opportunities. The report is anticipated to inform future strategies aimed at strengthening stability, innovation, and sustainable growth within the SACCO industry.
