Sacco Societies Regulatory Authority Explained

Agency Name:Sacco Societies Regulatory Authority
Nativename R:SASRA
Jurisdiction:Kenya
Chief1 Name:Robert Mungai
Chief1 Position:Chairman of the Board of Directors
Chief2 Name:Peter Njuguna
Chief2 Position:Chief Executive Officer
Parent Department:Office of the Commissioner of Co-operative Development
Parent Agency:Ministry of Agriculture, Livestock, Fisheries and Co-operatives

The SACCO Societies Regulatory Authority (SASRA)[1] is the primary regulatory body charged with licensing DepositTaking Sacco Societies (Savings and Credit Co-operatives Societies) - DT regulation 2010 and authorizing specified Non Deposit taking saccos - NDTS Regulations 2021 in the Republic of Kenya.

History

The Authority was established as a body corporate in 2010, pursuant to the provisions of the Sacco Societies Act with the primary purpose of streamlining the regulation of SACCOs and Co-operatives in the country under the supervision of the Commissioner of Co-operative Development, an office under the Ministry of Agriculture, Livestock, Fisheries and Co-operatives.[2]

Its mandate is to regulate, supervise and license SACCOs and Co-operatives in the country while receiving levy contributions from the same in accordance with the Sacco Societies Act of 2008.[3]

External links

Notes and References

  1. Web site: Sacco Societies Regulatory Authority Website.
  2. Web site: Ministry of Agriculture, Livestock, Fisheries and Co-operatives .
  3. Web site: SSA Act 2018 .