SACCOs
The SACCO Societies Regulatory Authority (SASSRA) has urged regulated SACCOs to strengthen compliance frameworks to protect members' savings and boost sector integrity. The call came during a virtual sensitization session on Anti-Money Laundering (AML) and Proliferation Financing (PF) compliance. CEO David Sandagi emphasized robust systems for legal duties and fund protection.
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A new report reveals that rising taxes and the Affordable Housing Levy are squeezing disposable incomes, making it harder for many Kenyans to secure SACCO loans for home construction. Over 70 percent of potential borrowers earn Ksh100,000 or less monthly, exacerbating the financial strain. The findings highlight barriers to affordable housing under President William Ruto's administration.