The government has suspended the licences of five Savings and Credit Cooperative Societies (SACCOs) following a regulatory review by the Savings and Credit Cooperative Societies Regulatory Authority (SASRA).
In a notice issued on Tuesday, February 3, 2026, SASRA said the affected SACCOs, operating in Nairobi, Samburu, Kiambu, Marsabit and Kajiado counties, will operate under conditional restrictions for 12 months.
During the period running from January 1 to December 31, 2026, the SACCOs have been limited to credit-only services and barred from receiving new deposits as they work to meet regulatory requirements under the Sacco Societies Act.
The regulator also confirmed that one SACCO voluntarily ceased operations after merging with another licensed cooperative in 2025, while another had its licence revoked after failing to apply for renewal by the December 31 deadline.
SASRA said 176 SACCOs have been licensed to conduct deposit-taking business, with a similar number cleared for non-deposit-taking operations. Acting Chief Executive Officer David Sandagi warned members of the public against transacting with unlicensed SACCOs, adding that employers should stop facilitating illegal SACCO activities through payroll deductions or digital platforms.
 following a regulatory review by the Savings and Credit Cooperative Societies Regulatory Authority (SASRA).){kind=link}