Oparanya Lifts Suspension on New SACCO Registration, Sets Tougher Requirements

Cooperatives Cabinet Secretary Wycliffe Oparanya lifted the suspension on registration of new Savings and Credit Cooperative Organisations (SACCOs) effective June 3, 2026. New requirements include a fully equipped physical office with at least one employee, a minimum institutional capital of Ksh1.2 million, a three-year business plan, and the ability to mobilize at least Ksh10 million in deposits within the first year. The decision follows a review of the regulatory framework by a committee of experts. The suspension was imposed in May 2025 after governance problems at several high-profile cooperatives.