EdGwer
431 posts










Summary of the Sacco Societies (Amendment) Bill, 2025, which was read a first time in the National Assembly this week: — Establishes a central liquidity and shared services framework, allowing 30+ primary Saccos to form a secondary Sacco that pools funds, manages liquidity, and provides system-wide financial infrastructure, including payments and settlement. — Defines a wholesale-only model for the secondary Sacco, which means it cannot take deposits from or lend to individuals, restricting operations strictly to primary Saccos and creating a clear two-tier system (members → primary Saccos → secondary Sacco). — Expands permissible activities of the secondary Sacco to include liquidity reserve management, inter-Sacco lending, investment in government securities, payment systems, transfers, and trade finance, positioning it as a sector-wide financial intermediary. — Places the secondary Sacco under SASRA licensing and supervision, with prescribed capital and liquidity thresholds, continuous oversight, and regulatory enforcement powers. — Introduces stricter governance and fit-and-proper requirements for directors and senior management of the secondary Sacco, alongside expanded regulatory approval powers. — Strengthens enforcement through penalties for non-compliance, including fines of up to KES 3M or imprisonment of up to 5 years. — Enhances the Deposit Guarantee Fund framework for primary Saccos, outlining claims processes, payout conditions, and timelines in the event of Sacco failure. — Maintains depositor protection at KES 100,000 per member in primary Saccos, with provisions allowing offsets against outstanding loans before payouts. — Grants the Cabinet Secretary and regulator powers to set regulations, fees, liquidity thresholds, and operational rules, with the Bill classified as a money bill due to public expenditure implications. Link to the Bill: parliament.go.ke/sites/default/…

















David Munyua bringing the vibes to Ally Pally 🕺



This child is missing, please contact 0721276362 if you come across her. Her name is Melissa @_James041 @KTNNewsKE @Honeyfarsafi kindly help amplify Missing from yesterday 8pm, she is in a red top and black trouser, maroon rubber shoes. From Kayole Nrb













