KENYA: SACCO Societies Act 2008 Enacted

A new act addressing savings and credit cooperative societies (January 2009)

This Act addresses the licensing, regulation, supervision, promotion of savings and credit cooperative societies (SACCOs), and establishment of the SACCO Societies Regulatory Authority in Kenya. The following topics are covered:

• The SACCO Societies Regulatory Authority
• Licensing of SACCO Societies
• Governance of SACCO Societies
• Regulation and Supervision of SACCO Societies
• The Deposit Guarantee Fun