The Sacco Societies Regulatory Authority (SASRA) has revoked and declined to renew the authorizations of two SACCO societies, barring them from conducting regulated SACCO business in Kenya.
According to the SASRA Supervision Report 2025, the affected societies are Nufaika SACCO Society Ltd and PESA SACCO Society Ltd, which ceased undertaking regulated SACCO business at the end of 2025.
SASRA stated that both societies were prohibited from undertaking any form of regulated SACCO business in Kenya from 2026 and were expected to wind up their businesses under the Cooperative Societies Act.
“These SACCO Societies are therefore prohibited from undertaking any form of regulated SACCO business in Kenya with effect from 2026 and are therefore expected to wind up their businesses as provided in the Cooperative Societies Act,” read part of the report.
SASRA Orders Two SACCOs to Wind Up Business in Kenya
According to the regulator, Nufaika SACCO Society Ltd ceased deposit-taking operations after its members voluntarily resolved to merge their membership with Fortune SACCO Society Ltd during 2025.
The SACCO was founded in 1970 and registered in 1974 as Kirinyaga Council Workers (KICOWO) SACCO Society Ltd. It initially served workers of the former Kirinyaga County Council, Municipal Council of Kerugoya/Kutus and Town Council of Sagana/Kagio.
It changed its name to Nufaika SACCO Society Ltd in May 2013 and later opened membership to non-county employees, businesspeople, and informal groups.
On the other hand, PESA SACCO Society Ltd, which previously conducted specified non-deposit-taking SACCO business, failed to apply to renew its authorization.
The report attributed the society’s inability to meet members’ financial and compliance obligations to the cessation of business by its employer institution.
It was registered in 1994 and initially served employees of De La Rue, a security printing firm. The SACCO later opened its common bond to accommodate members of the general public and other organizations.
The society started with 20 members and has since grown to more than 200, focusing on savings mobilization and credit services.
PESA SACCO was based at Mountain Mall, along Thika Road in Nairobi, where it operated from the second floor, Suite C29.
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Regularized SACCOS in Kenya
According to the report, 176 non-withdrawable deposit-taking (NWDT) SACCO societies existed at the beginning of 2025.
During the year, Kumbukumbu SACCO Society Ltd expanded its business model to include deposit-taking SACCO business and transitioned to a deposit-taking SACCO. At the same time, ACK Imani Talent SACCO Society Ltd, Kenfam SACCO Society Ltd and Urban Roads SACCO Society Ltd successfully applied for and obtained authorization to undertake specified non-deposit-taking SACCO business.
These changes increased the number of authorized NWDT-SACCO societies to 178 by the end of 2025.
The regulator classified the authorized NWDT-SACCOs into three categories. The first category comprised SACCOs undertaking non-deposit-taking business where members’ total non-withdrawable deposits are Ksh100 million or more, accounting for 174 SACCOs.
Also Read: Regulator Issues Fresh Guidance on Auditors for SACCOs Countrywide
Additionally, the second category covered SACCOs that mobilize membership and subscriptions to share capital through digital or other electronic payment platforms. This category included three SACCOs: Stoke–UK Diaspora Regulated NWDT-SACCO Society Ltd, Kenya–USA Diaspora Regulated NWDT-SACCO Society Ltd, and Grand Granite Diaspora Regulated NWDT-SACCO Society Ltd.
The third category consisted of SACCOs undertaking non-deposit-taking business through digital or electronic platforms, with Digital Media Regulated NWDT-SACCO Society Ltd listed under this category.
SASRA cautioned members of the public against dealing with SACCO societies undertaking unregulated specified non-deposit-taking business and advised them to confirm that a SACCO appears on the regulator’s published lists before conducting transactions.
The regulator also warned that unlicensed entities, particularly those operating through digital platforms, continue to attract members by promising high returns on savings before disappearing with their money. SASRA said the online nature of such transactions makes tracing and recovering lost funds difficult.
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