Oparanya calls for stronger SACCOs regulation to protect members’ savings
By Kiprono Keileb, March 13, 2026The Cabinet Secretary for Cooperatives and Small and Medium Enterprises (SMEs), Wycliffe Oparanya, joined the SACCO regulator’s board and management in Mombasa for a strategic retreat.
The meeting aimed to discuss the future of SACCO regulation and ways to restore public confidence in the sector after several cases of fraud, with the Directorate of Criminal Investigation (DCI) being roped in to probe the issue.
In a statement shared on X on Friday, March 13, 2026, Oparanya emphasised the critical role the regulator plays in ensuring the protection of ordinary Kenyans’ savings.
“I was pleased to join the Sacco regulator Board and Management today in Mombasa for a strategic retreat focused on the future of SACCO regulation in Kenya. This was an important opportunity to engage directly with the leadership and staff of a key institution under my Ministry, and to affirm the central role SASRA must play in protecting members’ savings, strengthening governance, and restoring confidence in the SACCO sector,” the statement read in part.
SASRA Board and Management in Mombasa on Friday, March 13, 2026: PHOTO/@DrOparanya/X
Oparanya highlighted the lessons learned from recent challenges within the SACCO sector, noting the urgent need for robust regulatory oversight. The CS added that there should be strong supervision to ensure that reforms are implemented fully without compromise.
“The recent challenges in the sector have reminded us that effective regulation is not optional. It is essential. SACCOs mobilise the resources of ordinary Kenyans, and that places a heavy responsibility on both the institutions themselves and the regulator. We must therefore strengthen supervision, enhance accountability, support digitisation, and ensure that reforms are implemented fully and without compromise,” the CS remarked.
The retreat also focused on strengthening institutional governance and adopting modern technology to improve oversight. Oparanya discussed mechanisms to ensure that member contributions are safeguarded and that SACCOs operate with transparency and efficiency.
SASRA officials and management shared updates on ongoing supervision programmes, including measures to prevent misuse of funds, fraud, and governance lapses, highlighting the role of digital tools in monitoring operations.
Oparanya encouraged collaboration between the regulator and SACCOs to reinforce public trust while promoting financial inclusion. He emphasised that protecting members’ savings is a shared responsibility that requires discipline, adherence to regulations, and proactive engagement with the sector.
The strategic retreat concluded with actionable steps to enhance SACCO supervision, strengthen institutional capacity, and support reforms aimed at digitisation and modernisation of the sector. The CS assured that these initiatives will ensure that SACCOs remain reliable platforms for mobilising savings, lending and contributing to Kenya’s economic growth.