The government, through the Savings and Credit Cooperative Societies Regulatory Authority (SASRA), has imposed immediate licence restrictions on five Savings and Credit Cooperative Societies (SACCOs).
In a notice dated Tuesday, February 3, 2026, SASRA said the affected SACCOs based in Nairobi, Samburu, Kiambu, Marsabit and Kajiado counties will operate under the restrictions for the next 12 months.
During the 2026 licensing period, the five SACCOs will be limited to credit-only operations and barred from accepting new deposits from their members.
SASRA Revokes SACCO Licences, Warns Public Against Unlicensed Firms. Photo: Courtesy.
Meanwhile, SASRA noted that one SACCO voluntarily ceased operations after merging its membership with another regulated credit cooperative last year.
Its licence was automatically revoked upon expiry, effectively barring it from conducting any SACCO business from January this year, pending deregistration and liquidation.
In addition, SASRA revoked the licence of another SACCO whose authorisation lapsed after it failed to apply for renewal by the December 31, 2025 deadline, as required by law.
According to the notice, a total of 176 SACCOs have been licensed to conduct deposit-taking business, while another 176 have been approved to operate as non-deposit-taking SACCOs.
SASRA Chief Executive Officer David Sandagi said all licensed SACCOs had met the regulatory requirements set out under the Sacco Societies Act, 2010.
He cautioned members of the public against transacting with unlicensed or unauthorised SACCOs, warning that such dealings are undertaken at one’s own risk.
The Authority also urged employers and other institutions to cease facilitating illegal SACCO operations through payroll deductions, remittances, or digital payment channels.
