Kenya: SASRA Rules Out Deadline Extension for Saccos to Comply With New Regulations

Nairobi — The SACCO Societies Regulatory Authority (SASRA) will not extend the June 30, 2021 deadline for Non-Withdrawable Deposit-Taking SACCOs or BOSA only to apply for authorization to operate in the country.

Citing the fact that the deadline is set out in the law, and the fact that SACCOs in the business has had over one year to prepare and comply with the regulations, SASRA has warned the public against dealing with any SACCO Society which will not have complied with the new Regulations by June 30, 2021.

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