The East African
Monday February 08 2021
According to officials, the Sacco fund will be run and managed by Sasra with funding coming from both the Saccos and the government - edging out banks from the sector. PHOTO | FILE
Summary
Under the new regime, Saccos will run their own inter-Sacco market where they can lend and borrow from each other at reasonable rates.
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Kenyan Savings and Credit Co-operative Societies (Saccos) are moving closer to the implementation of an inter-Sacco lending market and eventual integration into the National Payments and Clearing system in a development, leaving commercial banks staring at close to Ksh2.33 billion ($21.37 million) loss in interest income on loans granted to the co-operative sector.