The Sacco Societies Regulatory Authority (Sasra) has cut the proposed annual fees for
SACCOs with non-withdrawable deposits to 0.15 percent from 0.165 percent as earlier proposed.
The reduction follows the opposition to the proposed levy from industry players
reducing the projected revenue by at least 55 million in the first year.
The enforcement of the new proposed levy will spread over four years from 0.1 percent of 2023 deposits.
“This means that the 185 non-withdrawable deposit-taking Saccos will pay at least Ksh
85.22 million in 2023 fees on the more than Ksh 85.22 billion deposits they control, a
drop of Ksh 55.40 million from Ksh 140.62 million under the previous rate, “Sasra Chief Executive Officer Peter Njuguna.
The 2022 reviewed rates will rise to 0.13 percent in 2024, 0.14 percent in 2025, and
0.15 percent in 2026.
Sasra Reduces Statutory levy for new Saccos
