Saccos push for new law to protect savings and enhance regulation

Players in the SACCO sub-sector want Parliament to fast-track the Sacco Societies Amendment Bill 2025, saying it will strengthen regulation and protect members’ savings.Harambee Sacco says the proposed law will enhance oversight and introduce digital compliance as transactions increasingly move online. Speaking in Mombasa, the Sacco's officials also urged the government to address high lending rates and called for new products to attract younger members.