AfriPulse
Cooperatives Cabinet Secretary Wycliffe Oparanya has lifted the suspension on the registration of new Savings and Credit Cooperative Organisations (SACCOs), announcing new registration requirements.
Oparanya on Wednesday, June 3, said the decision follows a comprehensive review of the legislative and regulatory framework governing the cooperative sector by a committee of experts appointed by the ministry.
“I am pleased to announce that the Ministry of Co-operatives, through the Commissioner for Co-operatives, has lifted the suspension on the registration of new SACCOs with immediate effect,” the CS announced.
“This decision follows the successful review of the legislative and regulatory framework governing the co-operative sector by a Committee of Experts appointed by the Ministry.”
Cooperatives Cabinet Secretary Wycliffe Oparanya, addressing Kakamega residents on Friday, September 19, 2025.
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Wycliffe Oparanya
To qualify for the registration of a new SACCO, applicants must have a fully equipped and accessible physical office with at least one employee.
Similarly, the cooperative society must also maintain a minimum institutional capital of Ksh1.2 million to support formation and initial operations, excluding member deposits.
Applicants will be required to submit a detailed three-year business plan accompanied by cash flow projections and also demonstrate the ability to mobilise at least Ksh10 million in deposits within their first year of operation.
Oparanya also announced that the proposed SACCOs will also require full compliance with Sections 4, 5, and 6 of the Co-operative Societies Act and all relevant regulations governing cooperative societies.
“As we continue strengthening the co-operative movement, the registration of new SACCOs will now be subject to enhanced requirements aimed at promoting sustainability, accountability, and good governance,” Oparanya noted.
The CS directed that all registration applications be submitted through the respective County Director for Co-operatives.
Oparanya said the new measures will help build stronger and more resilient SACCOs that can effectively support financial inclusion and contribute to Kenya’s economic growth.
The resumption follows a suspension imposed in May last year after a string of operational and governance problems at several high-profile cooperatives exposed regulatory gaps.
Members of the Kenya National Police DT Sacco at a past meeting in Gilgil on August 29.
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Police Sacco
Source: Kenyans.co.ke | Read the Full Story…
