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What is SASRA (Sacco Societies Regulatory Authority)?

SASRA, the Sacco Societies Regulatory Authority, is the Kenyan state body created under the Sacco Societies Act to license, regulate and supervise SACCO societies that fall within its mandate, principally those taking deposits from members. It sets prudential standards, receives periodic returns, and publishes the list of SACCOs it has licensed.

A real Kenyan example

A member deciding whether to leave withdrawable savings with a SACCO checks SASRA's published list of licensed deposit-taking SACCOs rather than relying on a claim on the SACCO's website.

Why it matters

Registration as a co-operative society and licensing by SASRA are two different things, and a society can be validly registered without being licensed to take deposits. SASRA's published list is the way to tell the difference, and it is the single most useful check available to anyone assessing a SACCO.

FAQs

What does SASRA do?
It licenses SACCOs within its mandate, sets prudential standards such as capital and liquidity requirements, receives periodic returns from licensed SACCOs, and supervises compliance. It publishes the list of licensed institutions.
Does SASRA regulate every SACCO in Kenya?
No. Its mandate centres on deposit-taking SACCOs and has been extended over time to cover specified categories of non-deposit-taking SACCOs. The current scope is set by the Sacco Societies Act and the regulations made under it, so confirm it with SASRA directly.
How do I check if a SACCO is licensed by SASRA?
Consult SASRA's current published list of licensed SACCOs and note the date of the list you are reading. Do not rely on a poster, a website claim or a social media account.
Is SASRA the same as the Commissioner for Co-operative Development?
No. Registration of co-operative societies falls under co-operative law and the Commissioner for Co-operative Development. SASRA is the prudential regulator for SACCOs within its mandate. A SACCO can interact with both.
Does SASRA licensing mean my money is guaranteed?
No. Licensing means the SACCO is subject to prudential standards and supervision. It is not a guarantee of the institution's performance and not a statement that deposits are underwritten. Members of a SACCO are owners and carry exposure to the institution.

Related terms

SACCO (Savings and Credit Co-operative)Deposit-Taking SACCO (DT SACCO)SASRA ReturnsCo-operative Society

See all 72 terms