The Cooperative Alliance of Kenya (CAK) on Monday 16th June 2025 welcomed members of the Committee of Experts appointed by the Ministry of Cooperatives and Micro, Small and Medium Enterprises (MSMEs) Development for a high-level consultative meeting focused on the ongoing review of the SACCO Societies Act, 2008.
Held at the CAK headquarters in Nairobi, the meeting brought together stakeholders from across the cooperative movement to deliberate on critical reforms aimed at strengthening the legal and institutional framework governing Savings and Credit Cooperative Organizations (SACCOs) in Kenya.
Central to the discussions were proposed amendments to the SACCO Societies Act, including the establishment of a Central Liquidity Facility—a mechanism designed to bolster financial stability and resilience within the SACCO sector. The committee also explored the creation of a SACCO Deposit Guarantee Fund, intended to protect member deposits and enhance public confidence in the cooperative financial system.
Additionally, stakeholders examined the development of a shared services legal framework. This framework is expected to streamline operations across SACCOs, promote economies of scale, and improve service delivery to members nationwide.
The CAK expressed its appreciation for the Committee’s inclusive approach and commitment to engaging stakeholders in shaping the future of cooperative finance in Kenya.
“We are proud to contribute our voice to this important national dialogue,”
said CAK’s Mr. Daniel Marube .
“These reforms will play a pivotal role in ensuring the SACCO sector remains robust, accountable, and aligned with international best practices.”
The review process is part of a broader government initiative to modernize the cooperative sector, which plays a vital role in Kenya’s socioeconomic development, particularly in fostering financial inclusion and community empowerment.