From Metropolitan’s Sh7 Billion Hole to Moi University’s Liquidation.
Several SACCOs in Kenya have collapsed or ceased operations over the years due to various challenges, including mismanagement, fraud, loan defaults, and failure to comply with regulatory requirements.
Notable examples of SACCOs that have been closed, placed under liquidation, or reverted to back-office operations include:
- Moi University SACCO: Entered liquidation after failing to meet its financial obligations and the required financial ratios.
- Metropolitan National SACCO: Declared technically insolvent in February 2025 and required an estimated KSh 7 billion to stabilize its operations, following a government investigation that revealed significant financial irregularities.
- Nandi Hekima SACCO, Sukari SACCO, and Miliki SACCO: Had their deposit-taking (FOSA) licenses revoked by the Sacco Societies Regulatory Authority (SASRA) in early 2020, forcing them to discontinue front-office services.
- Transcom, Ufundi, Maono Daima, Greenhills, and Nest Sacco Society Limited: These SACCOs also either shut down their operations or reverted to back-office services during the same period.
- Nitunze SACCO (formerly Mumias Outgrowers): Ceased operations, partly due to the collapse of Mumias Sugar Company, which significantly affected its membership base.
- B-Smart Sacco and Multiple Sacco: Failed to renew their operating licenses with SASRA and were consequently barred from operating.
Are you a member of a Sacco? Check your institution’s status at www.sasra.go.ke to ensure your savings are protected.
