Part XI (Regulation and Supervision) authorises Sasra
to examine and perform on-site checks of saccos at any time, and to report its findings to that sacco's board of directors.Surely, Sasra
would have presented its findings and concerns to Metropolitan's executive management and directors and required concrete and timely remedial action.
spokesman Lt Col Keith Edlin told the Sunday Mercury: 'A number of people are not welcome because of their former indiscretions.
is also planning to establish an online service where Sacco members will be reporting any malpractice in any of the Saccos so they can be flagged out.
He said this will make saccos struggle to meet capital adequacy ratios required by Sasra
if the motivation to save is interfered with.
class="MsoNormal'BAD NAME' A memorandum of understanding activating collaboration between Sasra
, DCI and EACC will facilitate prompt action on any criminal activities within saccos where errant leaders will be investigated, prosecuted and punished," Mr Munya said in a speech read on his behalf by State Department of Co-operatives Principal Secretary Susan Mochache.
A report on the Sectoral Financing by Sacco Societies Regulatory Authority (Sasra
) shows that 36 per cent of total outstanding credit by December 2016 was used in the housing and land sector.
The CS said the mandate of Commissioner of Cooperatives and that of Sacco Societies Regulatory Authority (Sasra
) is limited, opening room for some saccos to collect and steal members' contributions."We are carrying out reforms within the cooperatives sector to look at regulatory framework so as to give more teeth to the commissioner and even Sasra
," Mr Munya said last week.
According to the Sacco Societies Regulatory Authority (Sasra
), the Kenyan deposit-taking sacco (DT-sacco) segment has remained robust with total assets growing to over Sh400 billion.
In the article, it emerged that, by last year, not more than three saccos appeared on a list of deposit-taking saccos in Kisumu county deemed compliant with the Saccos Regulatory Authority (Sasra
Former Mwingi North MP John Munuve was named member and the non-executive chairperson of the Sacco Societies Regulatory Authority (SASRA
) for a period of three years.