The SACCO Societies Regulatory Authority (SASRA) has reaffirmed its partnership with the World Bank and International Finance Corporation (IFC) in advancing reforms and resilience within Kenya’s SACCO industry.
In a consultative meeting held in Nairobi, a World Bank/IFC delegation led by Leah Kiwara, Mwombeki Baregu, Moyo Violet, and Job Mariga met with SASRA officials to review progress on several key projects supported through the National Treasury. The session was chaired by Mr. David Sandagi, the Authority’s Acting Chief Executive Officer.
Discussions centred on the implementation of flagship initiatives designed to enhance SACCO governance, liquidity management, and member protection. These include the Shared Services and Central Liquidity Facility, which seeks to strengthen financial stability and operational efficiency; the Deposit Guarantee Fund, aimed at safeguarding members’ savings; and the Consumer Protection and Market Conduct Frameworks, which promote transparency and accountability across the industry.
The meeting also reviewed progress under the Capacity Building Programme for SACCOs being implemented through the Kenya Credit Reporting Project. This initiative is intended to bolster credit information-sharing among SACCOs, reduce default risks, and promote responsible lending.
Mr. Sandagi commended the World Bank and IFC for their continued technical and financial support, noting that such partnerships play a critical role in strengthening the SACCO subsector — one of the most vibrant pillars of Kenya’s cooperative movement.
The discussions concluded with both parties reiterating their shared commitment to advancing financial inclusion, protecting member deposits, and enhancing consumer confidence within the SACCO industry.
“The reforms under these programmes are integral to building a sound, transparent, and sustainable SACCO sector that supports Kenya’s broader financial stability agenda,”
Mr. Sandagi noted.
The World Bank/IFC delegation equally expressed optimism that the ongoing collaboration will yield long-term benefits for SACCOs and their millions of members nationwide.