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Register a Sacco in Kenya

How To Start A Sacco Company In Kenya

Over recent years, the number of Saccos in the country has grown exponentially; these includes Kenya Police Sacco, Stima Sacco, Mwalimu Cooperative to name a few. Even the big corporate in the private and public sector are realising just how attractive Saccos are.

For the individual it’s an effective way of saving and quick and cheap means of raising capital; and for the Sacco as an entity there is power that comes from having members and regular income from contributions.

Sacco Societies Regulatory Authority (SASRA) report shows 175 registered and regulated Saccos with a combined asset value of Ksh 393 billion shilling as of 2016. With such figures, it’s no wonder many people want to get in on this thriving field.

So how does one get to register a Sacco.

Step 1: Registering your Sacco

You will need to propose a Sacco name that will be approved by Cooperative Society Department in Sheria House subject to availability.

Upon approval of the name, a Sacco registration form will need to compete with details of all the board members and members including proof of identity documents, physical address of all members.

We highly advise you to visit the Cooperative Society Department to get the comprehensive information, fees, application times and form and resources need to complete your registration.

Step 2: Requirement to Operate

If you intend on taking deposits from your members/customers, you will be required to obtain a license from SASRA. SASRA is mandated by section 24 of the Saccos Societies Act 2008 to license and regulate the operation of Deposit Taking Saccos. Approval of your license to operate from SASRA can take 4 months and above.

Non-deposit taking saccos are exempt however, there are other requirements to meet depending on the intended area of operation.

Numbers of members at registration is dependent on sector:

  • 50 members for agricultural society.
  • 20 for Savings and Credit Cooperative Society
  • 10 members for other types of Cooperatives.
  • Members are required to be above 15 year of age; while board members must be 18 years of age and above.

Step 3: Becoming Operational

Once the above steps are completed, you should receive a Certificate of Registration from the Registrar. This will enable you to acquire Sacco Bank account, other business permits, NHIF and NSSF, tax arrangements.

Here is to your success in getting your Sacco registered.

We currently do not offer SACCO registration services at the moment.

Image Courtesy of buildcommonwealth.org

About Enock Kiprono

Enock Kiprono is the founder of Fenesi.com & Dealpoa.com. He loves to connect with entrepreneurs that are success driven, passionate, action-taking whose goal is to make a difference in the business world!

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  1. Enock Kiprono is a very good person in making dreams come true. I personally pare a witness for he helped me come up a limited company. Thank you Kiprono

  2. This is a very important article Mr.Kiprono

  3. nice advise.

  4. Hope this procedure is still valid. Getting the same information from a kenya government office can be very daunting.

  5. I’m chairing a power group in mombasa targeting 100 members, we are targeting to start a SACCO as soon as possible. Any aid and ideas offered would be highly appreciated. Looking forward to a positive feedback soon, Thank you

  6. we are a group 20 peoples we would like to register a sacco what the requrement

    • we’re a church of about 50 people and half of them in business and therefore would like to start a sacco .please can you help us.

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