Financial Stability Report 2015 - Sacco Industry developments highlights

Financial Stability Report 2015 - Sacco Industry developments highlights

Source: http://www.sasra.go.ke

The Sacco industry total assets grew by 12.17 per cent in 2015 with loans being the single largest balance sheet asset at 73.5 per cent. The Sacco Society Regulatory Authority (SASRA) renewed licenses for 181 deposit taking Sacco societies to operate in 2015.
The deposit taking SACCO societies continue to grow above 12 per cent in all the key performance indicators and account for 75 per cent of the total assets and deposits in the SACCO sub-sector. These societies net assets exceed KShs.5 billion, which account for 54 per cent of net assets and deposits.
The increasing demands for prudential regulatory compliance coupled with the fact that majority of the small SACCO societies are financially and technically constrained, remain a major challenge for this category of deposit taking SACCOs. The growth momentum for the large and medium sized deposit taking SACCOs is expected to exert competitive pressure on the small SACCOs, which may opt out of the deposit taking SACCO business to concentrate in the non-deposit taking SACCO business or encourage mergers.
 

ISO 9001

KUSCCO QUALITY POLICY

We commit to consistently promote SACCOs through advocacy and provision of quality technical and financial products that exceed the members’ expectations.
We shall comply with the statutory requirements and actively pursue continuous improvement of the ISO 9001:2015 Quality Management System (QMS) processes, capabilities and effectiveness.
In pursuit of our commitment we shall ensure that the quality policy and objectives that have been established and communicated to the Union employees shall be reviewed annually in accordance with the stipulated framework and quality standards.”