
NCBA Investment Bank
June 10, 2025 at 05:36 AM
*Saccos with 3-year audit lapse now face deregistration*
Savings and credit cooperatives societies (Saccos) that have not filed audited financial statements with the Ministry of Co-operatives for the past three years, will be deregistered and stopped from mobilising deposits.
Ministry of Co-operatives and Micro, Small and Medium Enterprises Development Wycliffe Oparanya said there has been an increasing number of co-operatives failing to file their annual returns, including approved copies of audited financial statements, leaving government and members in the dark.
*_Source: Business daily_*
