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The Sacco Societies Act No. 14 of 2008 regulates the formation, operation, and management of Savings and Credit Co-operative Societies (SACCOs) in Kenya. It aims to ensure financial stability, transparency, and effective governance within SACCOs.
Governance: Defines roles and responsibilities for boards, management, and supervisory committees.
Formation and Registration: Details the procedures for creating and registering SACCOs.
Economic Support: Facilitates access to credit and financial services for members.
Stability and Protection: Ensures financial stability and protects member interests.
Digital Integration: Encouraging digital technology adoption.
Enhanced Supervision: Strengthening SASRA's oversight.
Increased Transparency: Improving reporting and disclosure practices..
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