Non-deposit-taking Saccos to start paying regulatory levy

Kenya Union of Savings and Credit Co-operatives Limited's CEO George Ototo shares a word with Sasra CEO Peter Njuguna during the 3rd day of the KUSCCO's 7th Annual Sacco Leaders Convention. [Kelvin Karani, Standard]

Non-deposit-taking Saccos will beginning this month pay an annual regulatory fee as they fully come under the purview of the industry regulator - the Saccos Societies Regulatory Authority (Sasra).

The Annual Sacco Societies Levy has been put at 0.1 per cent of the total non-withdrawable deposits held by a Sacco as per its audited accounts for the preceding year.