SACCO
The Kenya Union of Savings and Credit Co-operatives (KUSCCO) has submitted proposals to the National Treasury for removing excise duty on SACCO member transactions. The move aims to cut financial service costs for members, many of low- and middle-income. Other suggestions include adjusting income tax bands and broadening cooperative society definitions.
An Ruwaito ta hanyar AI
Detectives from the Directorate of Criminal Investigations (DCI) have arrested an accountant suspected of orchestrating a multimillion-shilling fraud at a Savings and Credit Cooperative Society (SACCO). The suspect, a former accountant, was apprehended by the Banking Fraud Investigation Unit (BFIU) for transactions totaling Ksh 16 million. Investigations continue to identify other involved parties.