sacco supervision report

Sacco Supervision Report

THE SACCO SOCIETIES REGULATORY AUTHORITY(SASRA)

( D e p o s i t Ta k i n g S a c c o s )

October, 2011

Sacco Supervision Report


( D e p o s i t Ta k i n g S a c c o s )

4 SASRA • 2010 SACCO SUPERVISION REPORT

VisionThe vision of the Authority is to be “A world class regulator of Sacco Societies”

MissionThe mission of the Authority is “To effectively regulate, and develop SACCO Societies by ensuring safety, soundness and integrity in their operations in order to enhance growth in National Savings and stability of the SACCO Sub-sector”

The Authority’s objectives are:To license Sacco Societies to carry out deposit-taking business in accordance with the Act.•To regulate and supervise Sacco societies•Hold, manage and apply the General Fund of the Authority in accordance with the Act•Do all such other things as may be lawfully directed by the Minister.•Perform such other functions as are conferred on it by this Act or by any other written law. •

Core ValuesSASRA in fulfilling its mission and vision shall at all times practice the following values.

Integrity•Professionalism•Teamwork•Customer focus•Impartiality•Innovativeness•


SASRA 2010 SACCO SUPERVISION REPORT 5

Table of Contents

Chairman’s Statement ........................................................................................................................... 6

CEO’s Statement ...................................................................................................................................... 7

Chapter One: Introduction ................................................................................................................... 9

Sacco subsector (composition and distribution of Saccos) ............................................ 10

Ownership Categories and Asset base in Deposit Taking Saccos ................................. 11

Sacco Societies Branch Distribution ...................................................................................... 12

Information Communication Technology (ICT) in the Sacco Sub sector ................... 12

Chapter Two: Sacco Sub-Sector Performance................................................................................ 13

Introduction ................................................................................................................................... 13

Performance of all Sacco societies ........................................................................................ 13

Performance of Deposit Operating Sacco Societies .......................................................... 14

Membership ................................................................................................................................... 15

Market Share for the Deposit Taking Sacco Societies .................................................. 16

Chapter Three: Developments in Legal and Regulatory Framework .................................... 17

Prudential Regulation of Sacco Societies ............................................................................ 17

License applications .................................................................................................................... 18

Challenges in the implementation of Prudential Regulations ..................................... 19

Conclusion ...................................................................................................................................... 20

Appendix I: Analysis of the Sacco Balance Sheet ........................................................................ 21

Appendix II: Summary of Licensed Saccos ..................................................................................... 22

Appendix III: County Summaries ...................................................................................................... 24

Appendix Iv: Directory of Licensed Saccos in Kenya .................................................................. 26


The establishment of Sacco Societies Regulatory Authority (SASRA) and subsequent appointment of the board in October 2009 marked the advent of the implementation of prudential regulatory framework in the Sacco sub sector in Kenya’s Sacco history. This development signals a paradigm shift in the conduct of Sacco business and is expected to have a transformative impact on the management and performance of Saccos.

The Authority’s mandate of licensing, supervising and regulating Sacco Societies as set out in the legal framework is informed by the government’s effort of reforming the financial sector to spur economic growth and the attainment Vision 2030 objective of transforming Kenya’s economy into a globally competitive and a prosperous nation. It is through this that the Authority seeks to inspire and motivate Sacco leadership to grow their individual institutions to the next level by upholding and promoting integrity through accountability.

The Authority’s big picture is to have a thriving and ever growing Sacco movement competing with the very best in the world and at the same time creating more opportunities for more people to emerge from poverty into a dignified and self-reliant life. The Authority’s 2010-2013 strategic plan clearly outlines the first phase of

the objectives and strategies to help achieve this goal which is also embedded in the National Vision 2030 goals.

The Authority is therefore pleased to release this inaugural Sacco Supervision Report. As is indicated the Sacco sub sector recorded positive growth in all areas during the year under review. This does not mean Saccos did not face economic

challenges just like any other sectors. This growth momentum is expected to be maintained at a higher level in the coming year as Saccos have always shown resilience even in changing economic environment.

Guided by the cooperative philosophy and a clear aim of securing Saccos funds, the Authority will remain visionary and – have more Saccos providing more socio-economic development to the people of Kenya, better welfare for our communities and moving together towards the attainment of Vision 2030.

Peter GakunuCHAIRMAN, BOARD OF DIRECTORS

Chairman’s Statement


The Sacco Societies Regulatory Authority (SASRA) is a creation of the Sacco Societies Act, 2008. The Authority’s establishment falls within the broad Government of Kenya’s reform process in the financial sector which has the dual objectives of protecting the interests of Sacco members and ensuring public confidence towards the Sacco subsector. This ultimately will spur economic growth through mobilization of domestic savings, deepening financial access and affordable credit to Sacco members.

The year under review marks the inaugural of the licensing, supervision and regulation of the Deposit Taking Sacco Societies under the Sacco Societies Act of 2008. During the year, the Authority embarked on licensing of the Sacco Societies as per the Sacco Societies Act, 2008 and the Sacco Societies (Deposit Taking Sacco Business), Regulations, 2010.

A total of 215 license applications were received by 30th June 2011 of which forty-five (45) were licensed by the same date. Another 55 were issued with letters of intent while the rest were in various stages of analysis and processing. The year also saw the Authority vigorously embarking on its capacity development initiative involving setting up of systems and infrastructure to enable it effectively execute its mandate and also built its staff capacity.

On the impact of licensing front, the year 2010 witnessed the continued growth of the Kenyan

Sacco sector on various key fronts such as membership, advancements in technology which facilitated service-delivery channels, number of branches. These improvements mark an important stage along the path towards a more efficient, stable and accessible Sacco services.

Indeed, key definitive milestones that are expected to profoundly

transform the sector both in the short and medium term were achieved. These turning points include:

Increase in the number of Deposit Taking •Saccos licensed to 83 Saccos

Onsite surveillance activities to ensure •that licensed Saccos operate with the prescription of the Act and regulation

Regular transmission of the returns to the •Authority to aid in offsite surveillance.

Vetting of the Directors and senior •management of Saccos with an aim of enhancing transparency and accountability

Improvement on the management •information system to ensure efficient service delivery

Provision of loan losses as a fundamental •accounting practice to ensure quality of loans.

CEO’s Statement


With the successful implementation and achievement of the above initiatives, I foresee the sector sustaining the growth momentum as Saccos continue to embrace new innovations underpinned by technological advancement. The introduction of agency banking services and adoption of ICT are some of the factors expected to sustain this growth.

The Sacco Societies Regulatory Authority (SASRA) therefore remains committed to providing an enabling legal and regulatory framework to the Sacco Societies to enable

them serve their members. The success shall be achieved in collaboration with other stakeholders including existing financial regulators and constant monitoring of the changes in the operating environment that may inform the policy review.

Carilus Ademba, HSCCHIEF EXECUTIVE OFFICER


1.1. IntroductionSacco Societies form a significant part of the larger Cooperative sector in Kenya. The Ministry of Co-operative Development and Marketing (MoCD&M) is responsible for the development of the Cooperative sector through policy and legal framework to facilitate attainment of the national social-economic goals in Kenya. The Cooperative Societies Act, 1997 as amended in 2004 provides the legal framework for promotion, registration and development of Co-operatives in Kenya.

Cooperatives can broadly be categorized as:-

a. Financial Co-operatives (Savings & Credit Co-operative Societies-Saccos)

b. Non-financial Co-operatives (includes produce marketing, housing, transport and investment co-operatives)

Financial co-operatives or Saccos are formed by individual members with the primary purpose of pooling savings and lending to each other as per the registered Bylaws. In the early 1990s, Kenya experienced difficult economic times forcing commercial banks to demand higher minimum operating balances for individual accounts to sustain their businesses. This saw many middle and low income persons unable to operate bank accounts. Saccos became popular among employed persons who had been unable to maintain or operate bank accounts and they responded by introducing a Front Office Service Activity (FOSA) which offered quasi banking services at competitive rates opening a new chapter in the Sacco business.

Saccos further comprise both deposit and non-deposit taking. In the current legal framework a Deposit Taking Sacco (D.T Sacco) is that Sacco operating a front office savings activity (FOSA). A FOSA activity is a quasi-banking activity undertaken by licensed Saccos.

Saccos comprise over 50% of all cooperatives in Kenya and as financial institutions they play a critical role of financial intermediation in Kenya’s financial landscape focusing mostly on personal development, small and micro enterprise sector of the economy. The sub sector comprises of large Saccos, some of which have a total asset base of over Kshs. 15 billion to the very small ones that have under Kshs. 10 million in assets and are well spread across the country from the large cities to the rural Kenya.

CHAPTER ONEStructure of Sacco Sub Sector


Unlike other commercial establishments, co-operatives are anchored on the cooperative philosophy which is based on seven Co-operative Principles formulated by International Co-operative Alliance (ICA).

These principles are:-

Voluntary and Open Membership1. Democratic Member Control2. Members’ Economic Participation3. Autonomy and Independence4. Education, Training, and Information5. Cooperation Among Cooperatives6. Concern for Community7.

This report is in pursuant to section 22 of the Sacco Societies Act (SSA), 2008 which requires the Authority to prepare and submit a report to the Minister on the operations and performance of the Sacco Societies during 2010/11 financial year.

As the first of its kind the report provides historical performance of Saccos, geographical spread, categories of Saccos, membership composition/common bond, technological developments, policies in the subsector, legal/regulatory reforms, challenges and the outlook of the Sacco subsector.

1.2 Sacco Subsector (Composition and Distribution of Saccos)Sacco subsector is the fastest growing within the Cooperative sector accounting for over 50% of the registered cooperative societies. As at 31st December 2010, there were 6,737 registered Sacco societies of which 3,280 were active. Active Saccos in this case are those whose annual accounts were audited and registered with the Commissioner for Cooperative Development (CCD). Two hundred and fifteen (215) out of the 3280 active Saccos were deposit taking (FOSA operating) Saccos, while the balance of 3,065 operated Back Office Savings Activity (BOSA) only. This implies that the balance of 3457 Sacco societies were dormant (none operational). However, given the many and small size Sacco societies that are spread across the country it is possible that some may be active but did not have their books audited and registered as required by law.

Nairobi and Rift valley provinces account for 42% (1371) and 19% (609) of the total active Saccos respectively. North Eastern has the least with none operating a FOSA as at December 2010. Table 1 below provides the regional distribution of active Sacco societies as at 2010.


Table 1: Provincial Distribution of Active Sacco Societies

No ProvinceNon Deposit Taking

Saccos(Non-FOSA Saccos)

Deposit Taking Saccos

(FOSA operating Saccos)

TOTAL

1. Nairobi 1,326 45 13712. Central 388 42 4313. Rift Valley 556 52 6094. Eastern 159 26 1855. Western 118 14 1326. Nyanza 236 23 2597. Coast 271 14 2858. North Eastern 8 0 8

Total 3,065 215 3,280

1.3. Ownership Categories and Asset base in Deposit Taking SaccosSaccos being co-operatives are formed based on a common bond which could be employment, geographical location or economic activity. The members of the Sacco are thus bound together through the common economic undertaking. Membership or ownership is structured based on this premise and table 2 below is a summary of the broad categories of the Sacco societies.

Table 2: Ownership Categories for Deposit Taking Sacco Societies

Membership base Number % Total Assets % Deposits %

Teachers 46 21% 57,414,278,904 34% 42,018,505,184 34

Government employees 44 20% 62,605,901,117 37% 48,123,121,459 39

Farmers 74 34% 22,901,536,491 13% 16,085,789,160 14

Private Sector employees 26 12% 11,189,416,623 7% 13,049776,424 10

Others *** 25 12% 17,268,724,529 10% 4,180,198,327 3

TOTAL 215 100% 171,379,857,664 100% 123,137,390,554 100

*** This include Traders, Transport and Housing

Increasingly, Saccos are opening their common bond to allow persons who are outside the original bond to become members in response to competition and to ensure sustainability as the traditional market shrinks. Rural farmer based Saccos are therefore rebranding to position themselves as national Saccos to attract non farmers to include business persons and employed persons. This is positive note as it allows the Sacco to diversify sources of deposits as well as credit market thus diversifying risk. However, most Saccos are still limiting the participation of the non-traditional members in the governance of the Sacco as they cannot participate in the general meeting.


1.4. Sacco Societies Branch DistributionThe expansion in the scope of services offered in FOSA operating Saccos has seen them open branches to serve their members in convenient and cost effective ways. This saw the numbers of branches grow from 475 in 2009 to 520 at the close of 2010. Table 3 below shows the provincial distribution of branches.

Table 3: Sacco Branch DistributionRegion 2009 2010 New branchesNAIROBI 74 82 8CENTRAL 119 128 9RIFT VALLEY 92 108 16EASTERN 87 93 6WESTERN 23 23 0NYANZA 58 61 3COAST 22 25 3

475 520 45

All the provinces except Western registered growth in branch network. Rift Valley had the highest growth accounting for 16 out of 45 opened in 2010. The branch distribution reflected the level of economic activities across the regions.

A notable development is the opening of branches in the city by some of the rural based farmers and teachers’ Saccos. A few of them have opened branches in Nairobi and Kisumu cities. This trend is likely to raise challenges on the definition of the common bond of Sacco societies especially with the devolved government system.

1.5. Information Communication Technology (ICT) in the Sacco Sub sector

Sacco societies have embraced the use of technology to deliver services to members. Most notable has been the connectivity to ATMs and mobile delivery channels by a majority of the FOSA Sacco societies. As at end of 2010, over one hundred had connected to the Cooperative Sacco Link network several others hooked on the Pesa point ATM network.

The use of mobile phone to deliver financial services has seen software vendors in the Sacco subsector partner with the telecommunications companies to integrate mobile solutions to their core systems. A number of Saccos are now able to have their members withdraw or deposit money into the FOSA account, make enquiries on the accounts, get notifications on their loans as well as pay for bills. This is significant development as it has allowed members access FOSA services conveniently without the cost of travelling to withdraw or deposit cash in FOSA.


CHAPTER TWOSacco Sub-Sector Performance

2.0. IntroductionThis report evaluates the performance of the Sacco subsector based on the financial data and information extracted from audited financial statements and reports for the period 2006 to 2010. It is a legal requirement that the audited accounts of a Sacco society be registered with the Commissioner for Cooperatives Development before presentation to members at the annual general meeting. However, not all active Sacco societies comply with this requirement.

The performance analysis presented in this report does not include sub-sector performance in respect of the financial stability due to limitations in the financial data in the audited accounts. This data is incomplete and disclosures on asset quality and capital adequacy are lacking.

Thus much of the performance analysis is trend analysis and comparison of Deposit Taking and non Deposit Taking Sacco societies.

2.1 Performance of all Sacco Societies

The total assets for the Sacco subsector stood at Ksh.216 billion in December 2010, a growth of 11% from the Ksh.194 billion recorded in 2009. The growth in assets was funded mainly by member deposits and share capital at Ksh.164 billion comparing favorably with loans and advances which accounted for 73% (or Ksh.158 billion) of the total assets. This reinforces the fact that Saccos’ core business is to lend to their members. The balance of the funded is retained earnings and loans commercial banks, KUSCCO and other institutions.

Table 4: below provides the 2010 performance summary for the 3280 Sacco societies whose audited accounts were available at the time of compiling this report.

Table 4: Performance Summary of all the Sacco Societies Combined as at December 2010

Region Membership Share Capital(Kshs. M)

Deposits(Kshs. M)

Turnover(Kshs. M)

Loans (Kshs. M)

Assets (Kshs. M)

%tage **Assets

Nairobi 657,423 2,004 97,907 14,113 100,422 127,504 59%Central 424,208 1,523 17,861 5,133 16,684 26,628 12%Rift Valley 223,711 1,185 16,390 2,984 15,121 22,972 11%Eastern 228,648 942 10,335 1,934 9,795 15,509 7%Western 77,873 231 4,125 838 4,300 6,191 3%Nyanza 180,640 260 5,211 1,092 5,048 8,091 4%Coast 106,065 525 5,701 1,626 6,547 9,239 4%N. Eastern 88 0.2 11 0.02 9 10 0TOTALS 1,898,656 6,669 157,540 27,721 157,926 216,144 100%

NB:** This column expresses the total assets for each province as percentage of the total assets for all the Sacco societies.


Sacco societies in Nairobi province which were estimated at 1369 in 2010 accounted for over 50% of the total assets and deposits in the entire subsector. This is mainly because they are salary based Saccos thus providing a stable source of deposits and market to lend. The same trend is replicated

of the deposits and assets. Refer to Table 2: on ownership of Saccos.

This trend is however reversed when it comes to membership with Nairobi Sacco societies accounting for less than 40% of the total membership.

Table 5: Comparison of the Deposits Taking Saccos to the Non Deposit Taking Sacco Societies

Categories of SaccosNo.

of SaccosMembers

Share Capital(Ksh.M)

Deposits(Ksh.M)

Loans (Ksh.M)

Total Assets

(Ksh.M)

Deposit Taking Saccos (DTS) 215 1,546,966 5,414 123,137 123,493 171,344

Non deposit Taking Saccos (NDTS) 3,065 351,690 1,255 34,403 34,433 44,799

TOTAL 3280 1898656 6,669 157,540 157,926 216,143

% of DTS to Total 7% 81% 81% 78% 78% 79%

Based on the 2010 performance of the Sacco subsector, the deposit taking Saccos accounted for over 75% of the deposits and total assets for the subsector. This scenario informed the Sacco societies Act whose application is to deposit taking Sacco societies.

2.2. Performance of Deposit Taking Sacco Societies

market share in the Sacco subsector. These Saccos also comprise the large Saccos in terms of key indicators including membership, assets and deposits. Therefore, their trend performance will

performance statistics for deposit taking Sacco societies over the period 2006 to 2010.

Table 6: Trend Performance for the Deposit Taking Sacco Societies (Ksh. M)Performance item 2006 2007 % 2008 % 2009 % 2010 %

Total Assets 105,533 115,900 10 134,018 16 146,167 9 171,345 17

Loans/Advances 68,302 77,356 13 90,984 18 102,514 13 123,492 20

Deposits/savings 51,113 61,753 21 71,110 15 105,929 49 123,137 16

Share Capital 2,030 2,473 22 2,720 10 4,242 56 5,413 28

Turnover 12,170 13,589 12 15,698 16 17,195 10 22,022 28

No. of Saccos 214 214 214 218 215

total assets have grown 62% funded by mainly by member deposits which more than doubled (141%) over the same period. As at 2010, the loans to members were at par with member deposits. Other sources of funded included the retained earnings and external borrowings which amounted to Ksh.13.3 billion and Ksh. 15 Billion respectively in 2010.


While the subsector as a whole has improved in terms management and technology capacities, the key driver for the growth in deposit taking Sacco societies is the opportunities in FOSA. The quasi banking services and products including salary and business accounts (demand deposits), salary processing, short-term loans/advances, ATMs, and mobile phone enabled services have positioned FOSA operating Sacco favorably in the market by enabling them to provide new and competitive products and services to members. This trend is expected to improve with effective implementation of the operational regulations and prudential standards. This will open new growth opportunities for Saccos that will appropriately align the regulatory framework with the business strategies.

Chart 1: Growth Trend for the Deposit Taking Sacco Societies

Five Year Growth180,000,000,000160,000,000,000

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stisopeD

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Parameters

20102009

200620072008

2.3 MembershipThe provision of quasi banking services through the FOSAs allowed the Sacco societies to attract members outside the original common bond. For many Saccos this was a growth opportunity as the traditional and captive market such as teachers or civil servants remained subdued due to

as user members or FOSA customers. This way they do not enjoy all the rights and privileges of a member in the true sense of cooperatives. Consequently, most Saccos only disclose in the audited

below on the membership trend.

Table 7: Members Trend in Deposit Taking Saccos (2006-2010)

ITEM 2006 2007 2008 2009 2010

Membership 981,830 955,162 1,061,348 1,538,993 1,546,966

The Sacco Societies Act prohibits Saccos from transacting with non members in line with the principles of cooperatives and the cooperative law. Thus the membership trend is likely to increase

as members but with limited rights.


2.4. Market Share for the Deposit Taking Sacco Societies FOSA operating Sacco societies accounted for over three quarters of the total assets and deposits in the Sacco subsector. Analysis of the 2010 for the deposit taking Sacco societies indicate that 46 Saccos with total assets of Ksh.1 billion and above account for 75% and 77% of the total assets and deposits respectively.

Table 8 classifies the deposit taking Sacco societies in three broad categories based on the size of the total assets as at 2010. The categories are explained are:

Category 1: Large Sacco Societies - Ksh. 1 billion and above.Category 2: Medium size Sacco Societies - Less than Ksh. 1 billion but above Ksh.200 million. Category 3: Small size Sacco Societies - Ksh 200 million and below.

Table 8: Market Share Analysis for Deposit Taking Saccos

Category No. of Saccos

Share Capital

(Kshs. M)% Deposits

(Kshs. M) % Turnover(Kshs. M) %

Loans/Advances(Kshs. M)

%Total

Assets(Kshs. M)

%

Large 46 3,031 56 94,798 77 15,482 73 97,268 79 129,078 75

Medium 68 1,654 31 23,298 19 4,603 22 21,252 17 34,701 20

Small 101 688 13 4,808 4 1,172 6 4,690 4 7,813 5

Total 215 5,373 100 122,904 21,257 123,210 171,592 100

Category 1 – Large Saccos (Above Kshs. 1bilion)

Out of the 46 Saccos in this category, 22 are teachers’ based Saccos accounting for 34% of the Ksh.129 billion in total assets. Teachers Sacco are mainly located in the District headquarters but with branches in the small towns in rural Kenya. In this category 5 Saccos have over Kshs. 6 billion in aggregate assets. Mwalimu National Sacco Society Limited has the highest asset base of Kshs. 17 billion as at December 2010.

Category 2 – Medium Saccos (Less than Ksh. 1 billion but above Ksh.200 million)

Teacher based Saccos based in the district towns accounted here are 66 Saccos in this category with a combined asset base of Kshs.34 billion representing 20% of all deposit taking Saccos. It is important to note that 20% of total assets in this category are held by county based teachers’ Saccos (Kshs. 8 Billion).

Category 3 – Small Saccos (Ksh 200 million and below)

These are Saccos with an asset base between Kshs. 100 million and Kshs.200 million. There are 106 Saccos in this category with a combined asset base of Kshs.8 billion and represent 5% of all deposit taking Saccos.


CHAPTER THREEDevelopments in Legal and

Regulatory FrameworkThe rapid growth of Sacco Societies growth has come with increased challenges which could not be adequately addressed within the provisions the Cooperatives Societies Act (CSA) CAP 490 in spite of numerous amendments. In response to this challenge the MoCDM recognized the need for a legislation specific to the Sacco subsector. Section 91A(1) of Co-operative Societies Act 1997 as amended in 2004 provided that “The Minister shall in consultation with the apex society constitute by notice in the Gazette a body to regulate the operations of savings and credit co-operatives.”

3.1 Prudential Regulation of Sacco Societies The MoCDM commenced the development of a Sacco specific legislation in 2004 culminating in the Sacco Societies Act (SSA) that was enacted and assented to in 2008. SSA provides for the licensing, supervision and regulation of Sacco Societies; and establishment of the Sacco Societies Regulatory Authority (SASRA) with the mandate to enforce the new legal and regulatory framework. In addition to prudential regulation, the Act also establishes the Deposit Guarantee Fund (DGF) which shall provide protection to members’ deposits up to Ksh.100,000 per member. The SSA commenced in 2009 but SASRA started operations in June 2010 upon publication of the Sacco Societies (Deposit Taking Sacco Business) Regulations.

The new legal and regulatory framework modeled along the same principles as those for the regulation of banks and deposit taking microfinance institutions has the primary purpose of improving governance of Sacco societies through enhanced transparency and accountability in the conduct of Sacco business.

Section 3(1) provides that the Act shall apply to every deposit taking Sacco business and specified non-deposit taking business. In respect of the non-deposit taking business, the Minister may make regulations specifying the non-deposit taking business to which this Act will apply including the measures for the conduct of the specified business. The Regulations published by the Minister in June 2010 like the name suggest applies to every deposit taking Sacco business. The deposit taking Sacco business refers to the taking of demand deposit from members which occur in Sacco societies operating the Front Office Service Activity (FOSA).

SASRA is therefore mandated to license and regulate the FOSA operating Sacco societies which numbered 218 at the date of publication of the Regulations.


3.2. License applicationsSection 69 of the Sacco Societies Act provided one year from the date of publication of the Regulations for all the FOSA operating Sacco societies to apply for license under the Sacco Societies Act. This period lapsed in June 2011 by which date 200 Sacco societies had submitted their applications for license with SASRA. The balance of eighteen (18) Sacco societies discontinued or closed the deposit taking business as they did not satisfy the licensing requirements. This left them to operate the Back Office Service Activity (BOSA) referred to in the Act as non-deposit taking business since they do not collect demand deposits from members. The supervision of BOSA Sacco societies remains under the Cooperative Societies Act and hence under the Commissioner for Cooperative Development.

Table 9: Status of License Applications as 31st October 2011 by Province

No. Region Saccos withFOSAs

License Applications

License certificates

issued

Letters of intentsIssued

Others

1. Nairobi 43 43 19 10 142. Central 42 4 19 12 163. Rift Valley 52 46 18 8 204. Eastern 26 31 10 5 165. Western 14 12 3 4 46. Nyanza 23 23 10 1 147. Coast 14 13 5 2 68. North Eastern 0 0 0 0 0

Total 215 215 83 42 90

In addition to the Sacco societies that were already carrying out FOSA business, another fifteen (15) applied to commence FOSA operations bringing the total license applications as at June 2011 to 215.

A total of forty-five (45) Sacco societies were licensed by June 30th 2011 with 55 having been granted letters of intent. The letter of intent signifies that the application by a Sacco society satisfies the regulatory requirements in respect of capital adequacy, business plan, management proposed among others. SASRA expects to license no less than ninety (90) Sacco societies by December 2011. As at 31st October 2011, eighty-three (83) Sacco societies had been licensed.

3.3. Supervision of Licensed Sacco Societies The issuance of the license certificate marks the beginning of supervision through off-site and on-site inspection to ensure compliance with the Act, operational regulations and prudential standards and other applicable laws at all times. The licensed Saccos are required to submit periodic financial reports to the Authority for monitoring the financial performance and taking necessary action in case of violations. A key output from these returns will be data and information on the performance of the Sacco subsector to the policy makers and the public in general. This is necessary to bring confidence in the Saccos, a prerequisite for the Sacco subsector to attract new members and professionals who have shied away due to perceived bad governance practices.


3.4. Challenges in the Implementation of Prudential RegulationsThe new regulatory framework brings immense challenges to Sacco societies as they are expected to conduct business in a different way. While a majority of the Sacco societies satisfy the minimum licensing requirements namely capital adequacy, physical infrastructure and internal controls, there are notable challenges for the effective compliance with the Act and Regulations. These include:

Low understanding of the Act and Regulations:a. There is limited in depth understanding of the Act and the Regulations in most Saccos to integrate the regulatory requirements in the operational policies for the day-to-day running of the Sacco business.

Governance structure:b. The historical practice where the management committee (now called Board of directors) comprising of elected officers are heavily involved in the operational affairs of the Sacco to the exclusion of the technical staff is deeply entrenched limiting the effectiveness of the Act and Regulations in licensed Sacco societies.

Technical capacity:c. The effective implementation of the new legal and regulatory framework requires a new set of skills and knowledge. This requires financial resources and time besides the attitude change amongst the leaders.

Management Information systems:d. The operating regulations and prudential standards define new ways of doing business thus requiring heavy investments by the Sacco societies in upgrading the existing information systems for effective compliance. The pace of the changes is slow due to multiplicity of factors including governance, technical capacity and financial.

Costs of regulation:e. There are numerous costs to compliance, most of which are immediate and direct but the benefit of regulation are not obvious and take time to show in the business. This coupled with the above mentioned challenges acts as a disincentive to the regulated entities to commit resources and time for faster compliance.

The Authority working with the stakeholders has initiated a number of programmes to address the key challenges in the subsector. This includes:

Developing of technical guides to assist in the interpretation of the Act and Regulations for a. ease of application by the Saccos. These are provided to the Saccos through the Authority’s website as well as hard copies issued during trainings.

Continuous engagement with the key providers of training in the Sacco subsector to ensure they b. understand the regulatory requirements. This is in addition to the direct training conducted by SASRA to Saccos, both licensed and unlicensed.

Under a Sacco subsector reform programme, funded by Financial Sector Deepening Trust c. Kenya (FSD Kenya), technical materials and toolkits will be developed covering governance, planning and change management. Besides, the technical materials, the programme will also develop a pool of service providers to provide technical support to the Sacco societies. Other areas that this programme has addressed include automation and financial reporting. Details of this programme can be found on www.fsdkenya.org.


3.5. ConclusionThe Sacco societies have distinguished themselves as convenient vehicles for savings mobilization and credit extension to members for both personal and enterprise development. The prudential regulation is aimed at improving financial condition and soundness of these Sacco Societies, thereby protecting member deposits. This will enhance public confidence and increase the level of savings and credit to members and SMEs, a key goal of Vision 2030 blueprint. A strong and well governed Sacco subsector will also be better prepared to compete with the other players in the financial sector providing wider choices for savers and borrowers.

The Authority through effective implementation of the Act and Regulation expects the growth momentum to be sustained guided by sound management and business practices that guarantee safety of member deposits.

SASRA will consolidate and continuously analyze the operations and performance of the licensed Sacco societies and disseminate the same to influence debate on policy and legal issues on the role of the Sacco subsector in the national economic development of Kenya.


Table 10:Deposit Taking (Fosa Operating) Saccos 2010: Per Province

MembershipShare

CapitalKsh. M

DepositsKsh. M

TurnoverKsh. M

LoansKsh. M

AssetsKsh. M

Nairobi 657,423 1,484 70,432 10,282 72,392 92,253

Central 424,208 1,434 15,822 4,514 14,727 23,796

Rift Valley 223,711 1,106 14,131 2,493 13,078 20,109

Eastern 228,648 832 9,507 1,776 9,150 14,310

Western 77,873 229 3,869 798 4,063 5,854

Nyanza 180,640 243 4,592 1,011 4,549 7,277

Coast 106,065 86 4,783 1,148 5,533 7,746

1,898,656 5,414 123,137 22,021 123,492 171,344

Table 11: Non Deposit Taking (Non Fosa Operating) Saccos 2010: Per Province

Region NO. of Saccos Membership Share Capital Member

Deposits Turnover Loans Assets

Nairobi 1,326 216,332 519,780,708 27,474,791,075 3,831,770,377 28,030,423,098 35,250,789,336Central 388 28,252 90,009,534 2,039,178,271 618,604,106 1,956,634,268 2,832,152,909Rift Valley 556 58,086 79,304,723 2,258,569,842 491,327,265 2,042,748,723 2,863,237,332Eastern 159 9,185 109,879,517 827,848,213 157,880,859 645,101,042 1,198,521,628Western 118 2,472 2,223,246 255,921,685 40,241,807 237,168,827 336,922,234Nyanza 236 11,495 16,396,500 618,571,834 81,209,753 499,335,661 814,117,688Coast 271 25,780 437,989,495 917,522,590 478,544,508 1,013,741,078 1,493,362,991N. Eastern 8 88 174,000 10,680,136 17,610 8,630,013 10,347,198

TOTAL 3065 351,690 1,255,757,723 34,403,083,645 5,699,596,285 34,433,782,710 44,799,451,317

APPENDIx I: Analysis of the Sacco Balance Sheet

APPENDIx II: Summary of Licensed Saccos


S/NO CS NO NAME OF SACCO MEMBERSHIP SHARECAPITAL

MEMBERS DEPOSITS TURNOVER LOANS/ADVANCES TOTAL ASSETS

1 1981 AFYA SACCO 36,955 36,433,907 5,569,005,092 855,131,033 5,498,367,118 7,523,234,257

2 2077 ASILI SACCO 10,104 90,333,449 745,715,367 126,474,544 796,134,407 988,305,241

3 2349 BANDARI 7,083 14,498,000 1,313,524,545 345,140,404 1,903,776,707 2,357,045,261

4 5988 BARAKA(MATHIRA TEA) 8,819 48,778,371 97,938,999 22,164,334 43,994,323 157,757,544

5 5641 BARINGO FARMERS 4,093 53,869,793 83,299,303 21,902,921 96,007,603 155,521,901

6 2549 BARINGO TEACHERS 7,723 218,842,552 1,419,849,181 258,494,729 1,454,421,764 2,260,913,915

7 6432 BIASHARA 8,614 18,492,931 130,214,186 35,989,332 154,079,128 197,820,560

8 4107 BINGWA/KIRINYAGA TEA 43,476 157,217,965 826,063,007 212,702,106 485,888,030 1,250,070,360

9 3636 BORABU FARMERS TEA 20,000 7,675,728 134,907,696 33,406,035 61,139,981 185,941,789

10 2876 BUNGOMA TCHERS SACCO 4,336 12,010,000 611,190,151 120,383,705 634,125,557 922,536,448

11 5932 BURETI TEA 5,480 50,234,928 90,416,842 39,877,837 57,609,664 251,181,099

12 2169 CHAI SACCO 7,931 29,948,078 879,638,018 130,564,918 899,040,187 1,110,090,103

13 1920 CHEMELIL SACCO 1,132 3,396,000 136,983,021 42,977,608 83,718,348 233,376,000

14 6780 CHEPSOL TEA GROWERS 6,402 19,075,312 196,737,459 34,263,609 87,227,995 242,350,720

15 2686 COMOCO 2,144 6,593,500 450,691,272 45,887,483 397,894,930 524,943,721

16 10068 DIOCESE OF MERU 4,380 7,863,975 45,555,677 7,924,037 55,416,682 64,250,424

17 2633 EMBU TEACHERS 6,577 22,432,399 819,626,640 129,167,043 801,261,545 1,013,158,425

18 9231 FARIJI 2109 11,092,234 69,968,365 21,853,451 56,977,846 98,458,268

19 10020 GITHUNGURI DAIRY 8,466 21,144,590 172,379,424 54,413,463 140,498,161 272,575,139

20 2641 GUSII MWALIMU 16,376 16,376,000 2,294,405,220 449,647,644 2,444,038,309 3,269,344,245

21 1916 HARAMBEE SACCO 92,842 487,909,070 9,626,894,310 1,278,539,910 10,877,609,810 14,655,159,915

22 2843 IRIANYI TEA 25,000 46,027,000 94,383,000 31,835,000 74,128,000 174,483,000

23 2044 JAMII SACCO 10,493 25,769,090 760,404,204 117,579,174 870,477,551 1,079,349,412

24 2738 KAKAMEGA TEACHERS 16,338 71,607,246 1,827,901,630 387,513,956 2,089,096,117 2,842,877,077

25 7591 KEIYO TEACHERS 2350 15,505,853 352,878,859 31,791,846 338,535,043 410,796,110

26 3468 KENPIPE SACCO 1,336 30,804,000 796,463,119 122,098,286 940,635,850 1,021,561,19427 1615 KENYA CANNERS 4,945 24,054,873 443,847,176 75,589,540 415,862,501 556,252,21428 2092 KENYA POLICE SACCO 55,835 79,622,000 5,226,656,845 728,761,890 4,909,841,529 6,427,563,41429 6336 KERICHO TEA/KH 22,455 53,793,490 627,049,858 100,763,440 321,444,610 865,461,58730 9111 KIAMBAA DAIRY RURAL 1,222 7,397,467 26,709,877 3,832,274 29,753,124 40,007,51731 2275 KIAMBU UNITY FINANCE 480 150,724,381 1,337,155,250 493,248,925 719,583,526 1,653,273,61432 2255 KILIFI TEACHERS 21,329 20,352,090 1,493,462,560 277,119,654 1,470,010,093 2,026,801,71633 9208 KINGDOM SACCO 3,879 10,494,697 128,604,215 15,168,917 112,848,293 151,015,72934 2885 KIPSIGIS TEACHERS 16,824 168,240,000 2,418,822,832 442,849,761 2,402,503,077 3,580,274,29935 2757 KITE 5,175 17,500,000 500,928,186 40,086,195 424,318,187 607,523,08036 2480 KITUI TEACHERS 8,254 15,583,540 1,056,061,955 198,430,518 1,206,286,721 1,423,210,35337 3983 KMFRI 2,175 7,903,416 108,014,927 13,108,640 105,936,386 151,351,78138 6569 KONOIN TEA GROWERS 7,894 7,473,192 105,350,959 28,458,132 78,329,778 172,812,907

39 7221 KURIA TEACHERS 926 2,373,420 47,737,020 57,848,311 59,486,682

40 2664 MAGADI SACCO 486 1,739,910 208,066,976 152,013,578 219,456,491 303,793,511

41 9187MATHIRA COFFEE FARMERS

9000 10,320,857 52,139,691 15,331,746 38,280,010 84,463,989

42 7320 MAUA METHODIST SACCO 700 52,727,523 130,771,803 34,758,440 113,645,629 219,527,374


S/NO CS NO NAME OF SACCO MEMBERSHIP SHARECAPITAL

MEMBERS DEPOSITS TURNOVER LOANS/ADVANCES TOTAL ASSETS

43 7178 MERU SOUTH FARMERS 21316 31,607,303 419,248,146 93,925,583 392,763,459 691,328,661

44 2628 METROPOLITAN 11,624 23,528,000 1,368,676,842 228,474,978 2,021,442,576 2,255,958,641

45 1726 MOMBASA PORT 3,164 6,528,294 445,541,065 125,834,335 667,027,675 798,425,253

46 2484 MOMBASA TEACHERS 1,581 5,058,510 230,364,164 50,952,510 263,143,330 423,027,390

47 2494 MUHIGIA 4,201 9,248,095 966,512,081 207,311,760 1,145,098,816 1,814,565,404

48 3109 MUMIAS OUTGROWERS 47,000 95,341,106 254,124,504 51,304,907 170,444,318 410,396,219

49 6267 MUNGANIA TG 12,889 197,617 223,938,554 60,548,044 134,801,351 415,711,414

50 6760 MURAMATI 86,301 176,475,431 1,665,873,206 350,972,123 1,023,124,726 2,096,865,584

51 2648 MURANG’A TEACHERS 8,325 15,784,635 1,329,295,274 225,591,024 1,258,590,840 1,656,750,375

52 2265 MWALIMU SACCO 47,976 29,593,800 13,474,160,430 2,290,717,472 14,814,217,843 17,029,390,479

53 3047 MWITO 4,294 12,882,000 456,709,579 45,930,725 458,182,298 523,382,888

54 2406 NACICO SACCO 10,046 12,831,604 894,018,313 181,906,041 685,472,366 1,698,457,876

55 2675 NAKURU TEACHERS 9,403 18,806,000 1,480,957,206 204,911,483 1,186,390,957 1,748,766,527

56 6061 NANDI HEKIMA 4,139 6,791,432 79,083,639 15,339,820 76,995,297 126,118,560

57 10308 NAROK TCHERS SACCO 2,030 13,909,000 299,209,000 23,611,000 293,922,000 357,892,000

58 2386 NATION STAFF SACCO 1,261 6,430,000 461,191,443 65,616,727 431,451,458 565,531,361

59 2869 NDEGE CHAI 18,593 13,874,798 1,036,982,255 248,257,910 1,021,486,540 1,411,145,708

60 5014 NITHI TG SACCO 6,139 24,652,820 139,882,615 29,655,396 118,501,386 187,844,000

61 7593 NYAMIRA TEA FARMERS 13,567 14,306,065 91,501,851 46,981,153 106,915,679 189,313,709

62 2559 NYANDARUA TEACHERS 4,729 9,253,960 1,065,802,296 199,935,732 1,171,806,285 1,477,846,833

63 2567 NYERI TEACHERS 7,213 13,814,000 1,431,508,791 284,135,843 1,579,513,847 2,427,100,639

64 10120 ORTHODOX SACCO 840 3,411,752 33,782,654 6,661,021 28,665,241 50,357,881

65 9510 SAFARICOM SACCO 2,230 10,741,422 509,110,834 102,513,303 669,853,767 792,943,401

66 2102 SHERIA SACCO 6,255 6,219,900 1,224,678,807 129,274,580 1,248,585,274 1,379,585,860

67 2865 SIAYA TCHERS SACCO 2,514 22,110,904 128,069,943 20,544,284 75,838,646 256,959,000

68 2678 SIMBA CHAI 4,351 9,373,550 307,226,040 56,774,744 338,132,645 374,728,876

69 6570 SOT TEA TG 8,971 51,428,522 234,152,762 38,312,093 79,989,132 352,016,760

70 6366 SOUTH IMENTI TG 7,236 127,388,080 559,229,530 135,921,633 502,161,933 884,952,707

71 2207 STIMA SACCO 9,737 9,461,456 4,677,351,408 752,830,463 5,395,843,087 6,283,238,958

72 6447 TAI/KIAMBU TG 15,186 54,458,725 368,728,819 74,049,831 308,709,713 580,307,432

73 8315 TAIFA - NYERI DFCS 63741 105,070,600 949,771,186 223,577,550 811,658,219 1,315,796,116

74 5676 TENHOS 1,356 15,180,773 70,577,497 15,364,270 81,270,322 117,213,190

75 6826 THARAKA NITHI TCHRS 4931 10,440,754 856,775,992 185,814,722 973,564,216 1,219,430,642

76 2660 TRANS-NZOIA TRS SACCO 2600 100,424,193 359,030,638 58,629,445 273,898,251 600,803,424

77 2375 UN SACCO 3,692 120,864,000 3,979,011,450 613,597,200 3,995,860,008 4,656,875,859

78 6403 UNIVERSAL TRADERS 19,747 39,494,000 132,274,229 44,247,487 169,257,119 285,351,036

79 6433 WAKENYA PAMOJA 70,352 20,000,000 415,812,689 212,316,835 277,367,214 924,616,092

80 10226 WAKULIMA DAIRY 5,940 30,174,463 66,241,261 16,871,279 38,130,066 109,583,398

81 6531 WANANCHI – NYERI TG 34,712 55,568,300 425,298,279 150,785,934 261,324,040 638,672,331

82 2700 WANANDEGE 3,880 3,880,000 833,576,232 129,544,016 638,512,016 1,044,871,557

83 2624 WARENG TEACHERS 4,479 8,958,000 503,193,193 84,721,580 471,348,166 655,431,624

**1,013,452 3,499,796,691 87,906,889,414 15,661,512,894 89,629,311,044 122,415,477,560

**NB: Membership figures are not conclusive as there are being validated.


CNTYNo. COUNTY NAME No Of

Saccos MEMBERS SHARE CAPITAL MEMBERS DEPOSITS TURNOVER LOANS/

ADVANCES TOTAL ASSETS

1 MOMBASA 7 19,063 44,017,377 2,401,907,029 741,914,989 3,414,328,533 4,325,589,559

2 KWALE 1 5,114 5,545,000 282,329,823 33,052,338 142,783,706 476,350,797

3 KILIFI 3 49,387 21,870,590 1,536,996,357 285,898,901 1,525,402,346 2,118,608,422

4 TANA RIVER 1 902 3,246,000 83,096,276 7,047,757 53,453,250 124,243,179

5 LAMU 1 4,781 1,027,500 75,578,843 23,496,193 74,192,000 140,934,910

6 TAITA/TAVETA 1 2,637 10,980,773 408,670,487 80,034,711 322,599,896 560,330,373

7 GARISSA Nil No FOSA operating Sacco

8 WAJIR Nil No FOSA operating Sacco

9 MANDERA Nil No FOSA operating Sacco

10 MARSABIT 1 916 465,100 158,873,032 16,303,965 145,510,106 298,135,659

11 ISIOLO 1 590 854,000 91,555,620 15,735,223 107,104,299 137,040,664

12 MERU 14 106,049 598,229,606 3,900,125,994 805,791,460 3,857,534,351 6,255,932,560

13 THARAKA NITHI 2 11,070 35,093,574 996,658,607 215,470,118 1,092,065,602 1,430,756,648

14 EMBU 6 111,729 124,860,086 1,807,236,020 344,200,738 1,324,657,674 2,711,469,510

15 KITUI 2 9,430 17,935,540 1,189,155,040 220,604,534 1,328,954,354 1,609,248,087

16 MACHAKOS 3 29,022 60,340,378 1,385,182,744 157,826,314 1,286,083,113 1,858,282,888

17 MAKUENI Nil No FOSA operating Sacco

18 NYANDARUA 5 18,915 31,393,876 1,358,169,601 241,023,382 1,308,469,835 1,847,876,994

19 NYERI 10 132,694 294,396,756 3,398,486,178 791,441,303 3,114,511,232 5,291,027,520

20 KIRINYAGA 20 87,429 315,720,620 1,559,623,893 412,064,168 1,121,544,903 2,380,787,424

21 MURANGA 6 172,522 386,418,340 4,727,132,189 945,441,374 4,252,580,727 6,696,501,888

22 KIAMBU 17 60,813 352,749,844 4,861,023,219 1,987,516,671 4,906,386,815 6,998,594,562

23 TURKANA Nil No FOSA operating Sacco

24 WEST POKOT 1 2,792 5,118,000 371,897,363 45,361,029 228,048,237 493,938,555

25 SAMBURU 2 1,402 5,776,272 214,291,230 37,684,859 229,808,884 311,187,141

26 TRANS-NZOIA 2 3,375 102,024,193 376,866,060 60,423,445 281,589,251 621,908,647

27 UASIN GISHU 5 9,611 121,075,660 1,314,479,177 185,764,124 1,367,323,358 1,865,614,813

28 ELGEYO MARAKWET 2 10,937 20,911,853 687,910,297 63,444,393 649,004,819 787,146,146

APPENDIx III: County Summaries

(Deposit Taking Saccos Only)


CNTYNo. COUNTY NAME No Of

Saccos MEMBERS SHARE CAPITAL MEMBERS DEPOSITS TURNOVER LOANS/

ADVANCES TOTAL ASSETS

29 NANDI 5 9,609 25,048,017 654,892,793 78,337,602 365,652,928 740,485,633

30 BARINGO 2 11,816 272,712,345 1,503,148,484 280,397,650 1,550,429,367 2,416,435,816

31 LAIKIPIA 3 3,029 67,743,626 583,525,489 129,088,394 895,329,371 1,177,580,219

32 NAKURU 5 20,550 47,486,139 2,446,721,597 362,602,926 2,126,626,368 3,119,384,370

33 NAROK 2 3,040 16,210,380 411,854,136 47,091,383 405,907,921 503,510,565

34 KAJIADO 2 1,885 3,542,310 221,777,970 154,842,362 233,316,864 331,949,324

35 KERICHO 6 69,522 259,199,191 4,515,951,797 866,097,058 4,243,928,747 6,414,386,426

36 BOMET 9 45,582 171,596,409 813,241,949 184,785,070 466,397,419 1,302,132,213

37 KAKAMEGA 4 65,832 186,490,238 2,725,762,411 600,199,980 2,919,796,932 4,210,426,917

38 VIHIGA 1 2,650 9,410,000 4,161,000 4,322,000 2,878,000 20,875,000

39 BUNGOMA 7 9,569 29,405,560 826,119,586 160,611,119 856,329,430 1,263,708,918

40 BUSIA 1 2,900 14,261,099 321,158,099 38,157,432 293,934,970 389,863,293

41 SIAYA 1 2,514 22,110,904 128,069,943 20,544,284 75,838,646 257,159,122

42 KISUMU 8 23,204 55,241,982 924,991,326 125,825,422 1,017,735,815 1,508,035,828

43 HOMABAY 4 2,901 11,141,243 162,733,448 9,630,736 155,692,033 248,950,723

44 MIGORI 1 1,856 4,204,000 172,417,241 18,137,663 225,532,795 284,009,257

45 KISII 9 139,646 142,952,005 2,991,813,473 802,023,171 2,917,445,911 4,700,663,973

46 NYAMIRA 1 13,567 14,306,065 91,501,851 46,981,153 106,915,679 189,313,709

47 NAIROBI 46 441,329 1,724,208,285 71,010,560,640 10,293,299,381 72,550,482,901 92,885,515,956


1. AFYA SACCO SOCIETY LIMITEDChief Executive Officer: Mr. David WaroePostal Address: P.O. Box 11608 - 00400, Nairobi.Telephone: TELL-2223970/2223961Email: [email protected] l Address: Afya centre, Tom Mboya streetDate Licensed: 28/July/2011Peer Group: LARGEBranches: 10

2. ASILI SACCO SOCIETY LIMITEDChief Executive Officer: Mr. Mathias O. OliechPostal Address: P.O Box 49064, 00100 Nairobi.Telephone:Email:Physical Address: ASILI CO-OP CENTRE, NGARA ROADDate Licensed: 7-Sep-2011Peer group: mediumBranches: 2

3. BANDARI SACCO SOCIETY LIMITEDChief Executive Officer: John O. RagamaPostal Address: P.O. BOX 95001-80104 Mombasa.Telephone: 2316685Email: [email protected] Address: Bandari Sacco Plaza, Moi AvenueDate Licensed: 4-Mar-2011Peer Group: largeBranches: 1

4. BARAKA SACCO SOCIETY LIMITEDChief Executive Officer: Zakaria K. MwenjePostal Address: P.O Box 1548-10101 Karatina.Telephone: 061-72174Email:Physical Address: Baraka Sacco Building, Kiaruhui roadDate Licensed: 22-Jun-2011Peer Group: SmallBranches: 1

5. BARINGO FARMERS SACCO SOCIETY LIMITEDChief Executive Officer: Kibwalei EvansPostal Address: P.O. BOX 660-20103 Baringo.Telephone:Email:Physical Address: Ravine Motor Building, Eldama RavineDate Licensed: 31-May-2011Peer Group: SmallBranches: 4

6. BARINGO TEACHERS SACCOSOCIETY LIMITEDChief Executive Officer: Moses CheborPostal Address: P.O.BOX 80-20103 Eldama RavineTelephone: 0720200689/0208024881Email: [email protected] Address: Teachers plaza, Market RoadDate Licensed: 4-Mar-11Peer Group: LargeBranches: 7

7. BIASHARA SACCO SOCIETY LIMITEDChief Executive Officer: M/S Rose Wangari KimaruPostal Address: P.O.BOX 1895-10100 Nyeri.Telephone: 066- 2034206/ MOBILE: 0722-557118Email:Physical Address: Lwale Place, Field Marshal Mutungi RoadDate Licensed: 28-Jul-2011Peer Group: SmallBranches: 5

8. BINGWA/KIRINYAGA TEA SACCOSOCIETY LIMITEDChief Executive Officer: Jane W.MugoPostal Address: P.O Box 434-10300 KerugoyaTelephone: 060-21014/21278Email: [email protected] Address: Tea Growers Complex, Kutus/Karatina RoadDate Licensed: 31-May-11Peer Group: LargeBranches: 12

9. BORABU FARMERS TEA SACCOSOCIETY LIMITEDChief Executive Officer: Daniel O. Ombaso-CEOPostal Address: P.O.BOX 42-40502 KisiiTelephone: TELL: 0726-632606Email: [email protected] Address: BORABU UNION BUILDING, NYANSIONGODate Licensed: 31-May-11Peer Group: SmallBranches: 3

10. BUNGOMA TEACHERS SACCOSOCIETY LIMITEDChief Executive Officer: Chrispinus BarazaPostal Address: P.O.BOX 1199-50200 BungomaTelephone: 055-30286 0728-219226Email: [email protected] Address: Bungoma Teachers Sacco Plaza, Moi AvenueDate Licensed: 18-Oct-11Peer Group: MediumBranches: 4

11. BURETI TEA SACCO SOCIETYLIMITEDChief Executive Officer: Catherine KagehaPostal Address: P.O. BOX 601-20210 KerichoTelephone: 052-54294Email: [email protected] Address: BURETI SACCO PLAZA, LITEINDate Licensed: 28-Jul-11Peer Group: MediumBranches 2

12. CHAI SACCO SOCIETY LIMITEDChief Executive Officer: Purity Mungure MainaPostal Address: P.O.BOX 278-00200 NairobiTelephone: 2214406/2214410Email: [email protected] Address:KTDA PLAZA, JUNCTION OF MOI AVENUE/RONALDNGALADate Licensed: 31-May-11Peer Group: LargeBranches: 2

13. CHEMELIL SACCO SOCIETY LIMITEDChief Executive Officer: Mr. Olum Tom NyumbaPostal Address: P.O. BOX 14-40112 KisumuTelephone: TEL: 057-51586/MOBILE: 0725-271883Email: [email protected] Address:CHEMELIL SUGAR SPORTS COMPLEX, AWASI/NANDIHILLS ROADDate Licensed: 18-Oct-11Peer Group: MediumBranches: 1

14. CHEPSOL TEA GROWERS SACCOSOCIETY LIMITEDChief Executive Officer: Mrs. Rose ChepngetichPostal Address: P.O. BOX 81-20225 KerichoTelephone: 020-2440530Email: [email protected] Address: CHEPSOL SACCO PLAZA, KIMULOTDate Licensed: 28-Jul-11Peer Group: MediumBranches: 2

15. COMOCO SACCO SOCIETY LIMITEDChief Executive Officer: Mr. Richard OmbaiPostal Address: P.O. BOX 3013-00100 NairobiTelephone: TEL: 650255Email: [email protected] Address: CMC BUILDING, LUSAKA ROADDate Licensed: 22-Jun-11Peer Group: MediumBranches: 1

16. DIOCESE OF MERU SACCO SOCIETY LIMITEDChief Executive Officer: Elizabeth SyengoPostal Address: P.O. BOX 1207-60200 MeruTelephone: TEL: 064-32236Email: [email protected] Address: INTERCITY CENTRE, KENYATTA AVENUEDate Licensed: 22-Jun-11Peer Group: SmallBranches 1

17. EMBU TEACHERS SACCO SOCIETY LIMITEDChief Executive Officer: Anne M. NjuePostal Address: P.O. BOX: 696-60100 EmbuTelephone: TEL: 068- 31090Email: [email protected] Address:EMBU TEACHERS SACCO BUILDING, KENYATTAHIGHWAYDate Licensed: 22-Jun-11Peer Group: LargeBranches 1

18. FARIJI SACCO SOCIETY LIMITEDChief Executive Officer: Margret NjambiPostal Address: P.O.BOX 589-00216 Githuguri.Telephone: 020-2017407/0727398699Email: [email protected] Address: Diplomt HouseDate Licensed: 22-Jun-11Peer Group: SmallBranches 5

APPENDIx IV: Directory of Licensed

Saccos in Kenya


19. GITHUNGURI DAIRY SACCO SOCIETY LIMITEDChief Executive Officer: Mary Nungari MburuPostal Address: P.O.BOX 896-00216 GithunguriTelephone: 020-2015366/0723400611Email: [email protected] Address:Githunguri Dairy Farmers Co-op Society Building,Market StreetDate Licensed: 28-Jul-11Peer Group: MediumBranches 5

20. GUSII MWALIMU SACCO SOCIETY LIMITEDChief Executive Officer:Postal Address: P.O.BOX 1335-40200 KisiiTelephone: 058-30357Email: [email protected] Address: Gusii Mwalimu House, Kisii-Keroka RoadDate Licensed: 20-Apr-11Peer Group: LargeBranches 4

21. HARAMBEE SACCO SOCIETY LIMITEDChief Executive Officer: Mr. James M. WanderaPostal Address: P.O BOX 47815-00100 NairobiTelephone:Email:Physical Address:Date Licensed: 28-Jul-11Peer Group: LargeBranches 5

22. IRIANYI TEA SACCO SOCIETY LIMITEDChief Executive Officer: Mr. Robert NtaboPostal Address: P.O.BOX 3080-40200 KisiiTelephone: TEL: 0729139697Email: [email protected] Address:NYAMACHE-IRIANYI PLAZA(K.T.D.A PREMISES),NYAMACHE-IGEMBE-IGAGE ROADDate Licensed: 22-Jun-11Peer Group: SmallBranches 5

23. JAMII SACCO SOCIETY LIMITEDChief Executive Officer: Mr. Eliud ChepkwonyPostal Address: P.O.BOX 57929-00200 NairobiTelephone: 552664/552448Email: [email protected] Address: JAMII SACCO COURT, MUKENIA ROADDate Licensed: 7-Sep-11Peer Group: LargeBranches 1

24. KAKAMEGA TEACHERS SACCOSOCIETY LIMITEDChief Executive Officer: Mr. Peter A. VuhyaPostal Address: P.O.BOX 1150-50100 KakamengaTelephone: TEL: 30864Email: [email protected] Address: MWALIMU CENTRE-KATECO PLAZA, MMURULI ROADDate Licensed: 11-May-11Peer Group: LargeBranches 3

25. KEIYO TEACHERS SACCO SOCIETY LIMITEDChief Executive Officer: Mr. Christopher K. CheruiyotPostal Address: P.O. BOX 512-30700 ElgeyoTelephone: TEL: 020-2676745Email: [email protected] Address: KEIYO TEACHERS SACCO BUILDING, ITENDate Licensed: 28-Jul-11Peer Group: MediumBranches: 1

26. KENPIPE SACCO SOCIETY LIMITEDChief Executive Officer: Malingi DzomboPostal Address: P.O. BOX 314-00507 NairobiTelephone: TEL: 550971Email: [email protected] Address: KENYA PIPELINE PREMISES, LUNGA LUNGA ROADDate Licensed: 18-Oct-11Peer Group: LargeBranches: 1

27. KENYA CANNERS SACCO SOCIETY LIMITEDChief Executive Officer: Mr. David Mwangi KioiPostal Address: P.O.BOX 1124-01000 ThikaTelephone: TEL:067-21162/0714499004Email: [email protected] Address: KENYA CANNERS SACCO BUILDING, WABERA STREETDate Licensed: 7-Sep-11Peer Group: MediumBranches: 2

28. KENYA POLICE SACCO SOCIETY LIMITEDChief Executive Officer: Mr. Solomon A. AtsayaPostal Address: P.O. BOX 51042-00200 NairobiTelephone: 02725794/02725580Email: [email protected] Address: UTUMISHI CO-OP HOUSE, MAMLAKA ROADDate Licensed: 28-Jul-11Peer Group: LargeBranches: 1

29. KERICHO TEA/K.H. SACCO SOCIETY LIMITEDChief Executive Officer:Postal Address: P.O.BOX 2085-00200 KerichoTelephone: TEL: 0202336640/0719471633Email: [email protected] Address: TEMIIK HOUSE, KAPSOIT MARKETDate Licensed: 4-Mar-11Peer Group: MediumBranches 2

30. KIAMBAA DAIRY RURAL SACCOSOCIETY LIMITEDChief Executive Officer: Monica W. MuiruriPostal Address: P.O. BOX 669-00219 KiambuTelephone: TEL: 020- 2071289Email:Physical Address: KIAMBAA DAIRY FARMERS BUILDING, KARURIDate Licensed: 28-Jul-11Peer Group: SmallBranches 1

31. KIAMBU UNITY FINANCE SACCOSOCIETY LIMITEDChief Executive Officer: Mr. Simon NjengaPostal Address: P.O. BOX 268-00900 KiambuTelephone: TEL: 066-2022052Email: [email protected] Address: MAPA HOUSE, BIASHARA STREETDate Licensed: 28-Jul-11Peer Group: LargeBranches 9

32. KILIFI TEACHERS SACCO SOCIETY LIMITEDChief Executive Officer:Postal Address: P.O.BOX 712-80108 KilifiTelephone: TEL: +254-41-7522572Email: [email protected] Address: KITECOH COMPLEX, KWA CHARO WA MAE STREETDate Licensed: 20-Apr-11Peer Group: LargeBranches 3

33. KINGDOM SACCO SOCIETY LIMITEDChief Executive Officer: Karanja Rosemary WaithiraPostal Address: P.O BOX 8017, 00300 NairobiTelephone:Email:Physical Address:Date Licensed: 28-Jul-11Peer Group: SmallBranches 1

34. KIPSIGIS TEACHERS SACCO SOCIETY LIMITEDChief Executive Officer: Mr. Mathew Arap Sigei (HSC)Postal Address: P.O.BOX 682-20200 KerichoTelephone: 052-30229/21028Email: [email protected] Address:

KIPSIGIS TEACHERS CO-OP Physical Address: House Building, Kericho NakuruHighwayDate Licensed: 11-May-11Peer Group: LargeBranches 3

35. KITE SACCO SOCIETY LIMITEDChief Executive Officer: Mr.Joseph OgangaPostal Address: P.O.BOX 2073-40100 KisumuTelephone: 057-2024767Email: [email protected] Address: RE-INSURANCE PLAZA, OGINGA ODINGA STREETDate Licensed: 11-May-11Peer Group: MediumBranches 1

36. KITUI TEACHERS SACCO SOCIETYLIMITEDChief Executive Officer: Kang’asua Florence MbuliPostal Address: P.O.BOX 254-90200 KituiTelephone: TEL: 044-4422721Email: [email protected] Address: KITUI TEACHERS SACCO PLAZA, KALUNDU ROADDate Licensed: 20-Apr-11Peer Group: LargeBranches 3

37. KMFRI SACCO SOCIETY LIMITEDChief Executive Officer: Mr. David Opondo ObieroPostal Address: P.O.BOX 80862-80100 MombasaTelephone: 020-8021560/1 Ext.169Email:Physical Address: KMFRI BUILDING, SILOS ROADDate Licensed: 31-May-11Peer Group: SmallBranches 2


38. KONOIN TEA GROWERS SACCOSOCIETY LIMITEDChief Executive Officer: Soi C. BeatricePostal Address: P.O. BOX 83-20403 KerichoTelephone:Email: [email protected] Address: MOGOGOSIEK28/July/2011 28-Jul-11Peer Group: SmallBranches 139. KURIA TEACHERS SACCO SOCIETY LIMITEDChief Executive Officer: James Mosabi KirigitiPostal Address: P.O.BOX 208-40413 KehanchaTelephone: 716036162Email: [email protected] Address: KUTE PLAZA, MIGORI-NTIMARU ROADDate Licensed: 28/July/2012Peer Group: SmallBranches 1

40. MAGADI SACCO SOCIETY LIMITEDChief Executive Officer: James H. OngojiPostal Address: P.O.BOX 13-00205 MagadiTelephone: 020-6999258/350Email: [email protected] Address: PAM VIEW & SACCO MART BUILDING, MAGADI STREETDate Licensed: 18-Oct-11Peer Group: MediumBranches 1

41. MATHIRA COFFEE FARMERS SACCOSOCIETY LIMITEDChief Executive Officer: Anastacia K. MusyimiPostal Address: P.O.BOX 1836-10101 KaratinaTelephone: TEL: 061-72274/0727013987Email: [email protected] Address: KIANGARARU BUILDINGDate Licensed: 18-Oct-11Peer Group: SmallBranches 1

42. MAUA METHODIST SACCO SOCIETY LIMITEDChief Executive Officer: Moses M. NabeaPostal Address: P.O.BOX 469-60600Telephone: 064-21434/21250Email: [email protected] Address: MMH PLAZA, KANUNI-MERU ROADDate Licensed: 18-Oct-11Peer Group: MediumBranches 3

43. MERU SOUTH FARMERS SACCOSOCIETY LIMITEDChief Executive Officer: Ndegwa Joseph WachiraPostal Address: P.O.BOX 514-60400 ChukaTelephone: TEL: 064-630290Email: [email protected] Address: MT BUILDING, EMBU-MERU ROADDate Licensed: 20-Apr-11Peer Group: MediumBranches 7

44. METROPOLITAN SACCO SOCIETY LIMITEDChief Executive Officer: Francis Kamau Nganga- HSCPostal Address: P.O. BOX 871-00900 KiambuTelephone: TEL: 066-2022468/2022584Email: [email protected] Address: KIAMBU COMMUNITY CENTRE, BIASHARA STREETDate Licensed: 28-Jul-11Peer Group: LargeBranches 5

45. MOMBASA PORT SACCO SOCIETY LIMITEDChief Executive Officer: Mr. Dedan OndiekiPostal Address: P.O.BOX 95372-80104 MombasaTelephone: 2220124Email: msaportsacco.co.kePhysical Address: MOMBASA PORT PLAZA, MWAKILINGO ROADDate Licensed: 31-May-11Peer Group: MediumBranches 1

46. MOMBASA TEACHERS SACCOSOCIETY LIMITEDChief Executive Officer: Shadrack Maina GatumbiPostal Address: P.O.BOX 85515-80100 MombasaTelephone: 041-2495809Email: [email protected] Address:MOMBASA TEACHERS PLAZA, JOMO KENYATTAAVENUEDate Licensed: 31-May-11Peer Group: MediumBranches: 1

47. MUHIGIA SACCO SOCIETY LIMITEDChief Executive Officer: Susan Wanjugu GachoraPostal Address: P.O.BOX 83-10300 KerugoyaTelephone: 060-21582/21921Email: [email protected] Address:MUHIGIA COMPLEX, TOTAL-DC ROAD OFF KUTUSKARATINAHIGHWAYDate Licensed: 22-Jun-11Peer Group: LargeBranches 1

48. MUMIAS OUTGROWERS SACCOSOCIETY LIMITEDChief Executive Officer: Anerico ChitayiPostal Address: P.O. BOX 295 KakamegaTelephone: TEL: 056641229Email: [email protected] Address: MOSACCO PLAZA, MUSANDA ROADDate Licensed: 28-Jul-11Peer Group: MediumBranches 3

49. MUNGANIA TG SACCO SOCIETY LIMITEDChief Executive Officer: Elijah Njeru MugoPostal Address: P.O.BOX 2032-60100 EmbuTelephone: 020-2367460Email: [email protected] Address:MUNGANIA SACCO BUILDING, EMBU-MUTUNDURIKIANJOKOMAROADDate Licensed: 22-Jun-11Peer Group: MediumBranches 6

50. MURAMATI SACCO SOCIETY LIMITEDChief Executive Officer: Mr. Tony Kinyua MwangiPostal Address: P.O.BOX 1145-10200 Murang’aTelephone: TEL: 060-2030273/2030882Email: [email protected] Address: MURAMATI BUILDING, HOSPITAL ROADDate Licensed: 31-May-11Peer Group: LargeBranches 5

51. MURANG’A TEACHERS SACCO SOCIETY LIMITEDChief Executive Officer: Mr. Alex IrunguPostal Address: P.O.BOX 789-10200 Murang’aTelephone: TEL: 020-3580167Email: [email protected] Address:MURANG’A TEACHERS SACCO BUILDING, UHURUHIGHWAYDate Licensed: 9-Jun-11Peer Group: LargeBranches 2

52. MWALIMU SACCO SOCIETY LIMITEDChief Executive Officer: Mr. Joshua Ochieng OjallPostal Address: P.O.BOX 62641-00200 NairobiTelephone: 020-2249980/312470/317133Email: [email protected] Address: MWALIMU CO-OP HOUSE, TOM MBOYA STREETDate Licensed: 30-Jun-11Peer Group: LargeBranches 6

53. MWITO SACCO SOCIETY LIMITEDChief Executive Officer: Mr. George M. MugambiPostal Address: P.O.BOX 56763-00200 NairobiTelephone: 020-3505209Email: [email protected] Address: MWITO HOUSE, DESAI ROADDate Licensed: 9-Jun-11Peer Group: MediumBranches 1

54. NACICO SACCO SOCIETY LIMITEDChief Executive Officer: Patroba OkelloPostal Address: P.O.BOX 34525-00100 NairobiTelephone: 2217797Email: [email protected] Address: NACICO PLAZA, LANDHIES ROADDate Licensed: 9-Jun-11Peer Group: LargeBranches 2

55. NAKURU TEACHERS SACCO SOCIETY LIMITEDChief Executive Officer: Rose MogerePostal Address: P.O.BOX 1931-20100 NakuruTelephone: TEL: 2212415/6Email: [email protected] Address: K.F.A BUILDING, GEOFFREY-LEAMAN WAYDate Licensed: 31-May-11Peer Group: LargeBranches 1

56. NANDI HEKIMA SACCO SOCIETY LIMITEDChief Executive Officer: Silas KipkemboiPostal Address: P.O.BOX 211-30300 KapsabetTelephone: TEL: 05352019Email: [email protected] Address: OLD DC’S BUILDING, KAPSABET ROADDate Licensed: 9/June/2011 9-Jun-11Peer Group: Small SmallBranches 5

57. NAROK TEACHERS SACCO SOCIETY LIMITEDChief Executive Officer: Mary Seno KimintaPostal Address: P.O.BOX 158-20500 NarokTelephone: TEL: 050-22011/22705Email: [email protected] Address: MWALIMU PLAZA, NAROK-KIJABE ROADDate Licensed: 18-Oct-11Peer Group: MediumBranches 2


58. NATION STAFF SACCO SOCIETY LIMITEDChief Executive Officer: Jacob KimathiPostal Address: P.O. BOX 22022-00400 NairobiTelephone: TEL: 020-2223247Email: [email protected] Address: CAMBRIAN, MOI AVENUEDate Licensed: 28-Jul-11Peer Group: MediumBranches 1

59. NDEGE CHAI SACCO SOCIETY LIMITEDChief Executive Officer: Simon GichuhiPostal Address: P.O.BOX 857-20200 KerichoTelephone: 30121Email: ndegechaisacco.comPhysical Address: NDEGE CHAI HOUSE, KISUMU-KERICHO HIGHWAYDate Licensed: 20-Apr-11Peer Group: LargeBranches 8

60. NITHI TEA GROWERS SACCO SOCIETY LIMITEDChief Executive Officer: Rose Gatakaa GithinjiPostal Address: P.O.BOX 467 ChukaTelephone: TEL: 064-630545Email:Physical Address:Date Licensed: 18-Oct-11Peer Group: SmallBranches 4

61. NYAMIRA TEA FARMERS SACCO SOCIETY LIMITEDChief Executive Officer: Kepha Nyamweya MokayaPostal Address: P.O.BOX 633-40500 NyamiraTelephone: 208006148Email: [email protected] Address:NYAMIRA TEA FARMERS SACCO BUILDING, NYAMIRAMABUNDUROADDate Licensed: 20-Apr-11Peer Group: SmallBranches 7

62. NYANDARUA TEACHERS SACCO SOCIETY LIMITEDChief Executive Officer: Daniel MuthogaPostal Address: P.O. BOX 259-20303 NyandaruaTelephone: 020-2071205Email: [email protected] Address: NYANDARUA TEACHERS SACCO BUILDING, OL KALOUDate Licensed: 28-Jul-11Peer Group: LargeBranches 3

63. NYERI TEACHERS SACCO SOCIETY LIMITEDChief Executive Officer: Mr. John Muchiri MathinjiPostal Address: P.O. Box 1939, 10100 NyeriTelephone:Email:Physical Address:Date Licensed: 11-May-11Peer Group: LargeBranches 2

64. ORTHODOX SACCO SOCIETY LIMITEDChief Executive Officer: Alice Njeri NgothoPostal Address: P.O.BOX 43582-00100 NairobiTelephone: 020-2655453/0736956434/0714502558Email: [email protected] Address: ODESA SACCO BUILDING, KAWANGWARE ROADDate Licensed: 28-Jul-11Peer Group: SmallBranches 1

65. SAFARICOM SACCO SOCIETY LIMITEDChief Executive Officer: Vivian AwuorPostal Address: P.O.BOX 66827-00800 NairobiTelephone: 020-4273228Email: [email protected] Address: SAFARICOM HOUSE, WAIYAKI WAYDate Licensed: 7-Sep-11Peer Group: MediumBranches 1

66. SHERIA SACCO SOCIETY LIMITEDChief Executive Officer: Kenneth OndialaPostal Address: P.O.BOX 34390-00100 NairobiTelephone: 020-2010396Email: [email protected] Address: SHERIA SACCO HOUSE, OFF MATUMBATO STREETDate Licensed: 7-Sep-11Peer Group: LargeBranches 1

67. SIAYA TEACHERS SACCO SOCIETY LIMITEDChief Executive Officer: Joseph OnyangoPostal Address: P.O. BOX 605-40600 SiayaTelephone: TEL: 057321199Email: [email protected] Address: MWALIMU PLAZA, OGINGA ODINGA STREETDate Licensed: 18/October/20111Peer Group: MediumBranches 1

68. SIMBA CHAI SACCO SOCIETY LIMITEDChief Executive Officer: Wesley NgenoPostal Address: P.O. BOX 977-20200 KerichoTelephone: 052-20146/7/8/9 EXT: 277Email: [email protected] Address: KERICHO/NAKURU HIGHWAYDate Licensed: 28-Jul-11Peer Group: MediumBranches 1

69. SOT TEA GROWERS SACCO SOCIETY LIMITEDChief Executive Officer: Geoffrey ChepkwonyPostal Address: P.O.BOX 251-20400 BometTelephone: 020-2045515Email: [email protected] Address: SOTTEG PLAZA, SILIBWET STREETDate Licensed: 28-Jul-11Peer Group: MediumBranches 1

70. SOUTH IMENTI TG SACCO SOCIETY LIMITEDChief Executive Officer:Postal Address: P.O.BOX 511-60202 NkubuTelephone: 254-0164-51399/51202Email: [email protected] Address: SACCO BUILDING, NKUBU-KATHERA ROADDate Licensed: 4-Mar-11Peer Group: MediumBranches 7

71. STIMA SACCO SOCIETY LIMITEDChief Executive Officer: Mr. Paul WambuaPostal Address: P.O.BOX 75629-00100 NairobiTelephone: 020-3751292Email: [email protected] Address: STIMA SACCO PLAZA, MUSHEMBI ROADDate Licensed: 4-Mar-11Peer Group: LargeBranches 1

72. TAI/KIAMBU TG SACCO SOCIETY LIMITEDChief Executive Officer:Postal Address: P.O.BOX 718-00216 githunguriTelephone: 020-2014150/020-2010334Email: [email protected] / [email protected] Address: TAI PLAZA, UPLANDS/LIMURU ROADDate Licensed: 4-Mar-11Peer Group: MediumBranches 3

73. TAIFA SACCO SOCIETY LIMITEDChief Executive Officer: Simon M. GichingiPostal Address: P.O.BOX 1649-10100 nyeriTelephone: 020-2328958Email: [email protected] Address: NCU BUILDING, GAKERE ROADDate Licensed: 22-Jun-11Peer Group: LargeBranches 10

74. TENHOS SACCO SOCIETY LIMITEDChief Executive Officer: Kemboi KipronoPostal Address: P.O.BOX 391-20400Telephone: 020-8031627/8Email: [email protected] Address: TENWEK HOSPITAL BUILDINGDate Licensed: 20-Apr-11Peer Group: SmallBranches 1

75. THARAKA NITHI TEACHRS SACCO SOCIETY LIMITEDChief Executive Officer: Luncham MugambiPostal Address: P.O Box 15-60400 ChukaTelephone:Email:Physical Address:Date Licensed: 22-Jun-11Peer Group: LargeBranches 2

76. TRANS-NZOIA TEACHERS SACCO SOCIETY LIMITEDChief Executive Officer: GEORGE MALAVAPostal Address: P.O Box 2274 KitaleTelephone: 0722-259220Email:Physical Address:Date Licensed: 18-Oct-11Peer Group: MediumBranches 3

77. UN SACCO SOCIETY LIMITEDChief Executive Officer: Selasio NjeruPostal Address: P.O.BOX 30552-00100 NairobiTelephone: 762700-3/7621201Email: [email protected] Address: UNSACCO BUILDING, UN AVENUE, OFF LIMURUDate Licensed: 4-Mar-11Peer Group: LargeBranches 1

78. UNIVERSAL TRADERS SACCOSOCIETY LIMITEDChief Executive Officer: Kisili Stephen KiokoPostal Address: P.O.BOX 2119-90100 MachakosTelephone: 044-20571Email: [email protected] Address: TRADERS HOUSE, SYOKIMAU HOUSEDate Licensed: 22-Jun-11Peer Group: MediumBranches 1


79. WAKENYA PAMOJA SACCO SOCIETY LIMITEDChief Executive Officer: Richard MarangaPostal Address: P.O.BOX 829-40200 KisiiTelephone: TEL: 058-30220/1Email: [email protected] Address: KAHAWA HOUSE, KISII-KEROKA ROADDate Licensed: 20-Apr-11Peer Group: MediumBranches 12

80. WAKULIMA DAIRY SACCO SOCIETY LIMITEDChief Executive Officer: Paul Wanyagi NuthuPostal Address: P.O.BOX 232-10103 Mukurwe-iniTelephone: 020-3594698Email: [email protected] Address:MUKURWE-INI WAKULIMA DAIRY LTD, MUKURWE-ININYERIROADDate Licensed: 22-Jun-11Peer Group: SmallBranches 1

81. WANANCHI SACCO SOCIETY LIMITEDChief Executive Officer: Edward Kinyungu NjunuriPostal Address: P.O.BOX 910-10106 OthayaTelephone: 061-3152248/3152174Email: [email protected] Address:WANANCHI SACCO BUILDING, NYERI-OTHAYA-KIRIANIROADDate Licensed: 22-Jun-11Peer Group: MediumBranches 8

82. WANANDEGE SACCO SOCIETY LIMITEDChief Executive Officer: James MurithiPostal Address: P.O. BOX 19074-00501 NairobiTelephone: TEL: 020-3535851/2/3Email: [email protected] Address: WANANDEGE PLAZA, EMBAKASI ROADDate Licensed: 28-Jul-11Peer Group: LargeBranches 2

83. WARENG TEACHERS SACCO SOCIETY LIMITEDChief Executive Officer: Meshack K. MaruPostal Address: P.O.BOX 3466-30100 EldoretTelephone: 053-2062423Email: [email protected] Address:WARENG TEACHERS SACCO BUILDING, RONALD NGALA STREETDate Licensed: 28-Jul-11Peer Group: MediumBranches 1

Physical AddressBritak Centre, 1st Floor

Junction of Mara and Ragati Roads, Upper Hill

P.O. Box 25089-00100, Nairobi, KenyaTel: +254 (20) 2717714/5/7/8

E-mail: [email protected] • Website: www.sasra.go.ketwitter: sasra_ke • Facebook: Sacco Societies Regulatory Authority


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