Regulator told to rid saccos of corruption

Ethics and Anti- Corruption Commission (EACC) has asked Sacco Societies Regulatory Authority (SASRA) to be vigilant in their regulatory role to timely remove corrupt elements within Saccos.

This, the anti-graft body said, will salvage Saccos which are currently thriving as key drivers of the economy, from the lethal jaws of corruption.

Speaking during the capacity building on bribery and corruption risk assessment and mitigation plan for senior SASRA officers, EACC  Director of Education and Public Awareness, Emily Mworia (below) said the commission is cognisant of the important role SASRA plays as a regulator of Saccos which are a tool for enhancing social-economic development.

Mworia said it is estimated that Saccos account for 45 per cent of the Gross Domestic Product and 30 per cent of national savings and deposits in Kenya.

While referring to the annual report released in July 2022, the director noted that the sub-sector grew by 9.93 percent from Sh 734.2 billion in 2020 to Sh 807.1 billion in 2021.