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SACCO Registration Requirements in Kenya

SACCO Registration Requirements in Kenya

This article is about SACCO Registration Requirements in Kenya. A SACCO is a financial and credit support organization owned, managed and directed by its members who have an interest and purpose. In 2018, there are 162 SACCOS in Kenya that are licensed and approved by the government to receive deposits. In this article, we will look at the registration form for those who intend to start a deposit SACCO in Kenya.

Before you do anything, make sure that your SACCO can provide a minimum capital of Kshs 10 million as shown in your financial statement or by issuing a bank statement.

You will also be asked to provide a detailed four-year business plan and feasibility study including projected financial statements.

After providing all these, your SACCO officers and directors will undergo a reputation test to determine their moral and professional fitness to serve on the board of directors and manage the SACCO.

how to register a sacco in kenya

Sacco Registration Procedure

  1. Select and submit the Sacco name to the Cooperative Society section at Sheria House, Nairobi. They will review the name and approval, Board members and members will fill out the application form. Download the registration form (Form A).

  • Member must be at least fifteen (15) years of age.
  • Council members must be eighteen (18) years of age.
  • Each of them must have the same needs as the other members
  • The member must be in an important role for the main company
  • A member will be able to pay and buy shares


A Savings and Credit Union (SACCO) must have at least twenty (20) members. You must pay a registration fee of Ksh 500 to register your SACCO.

2. Once the registration is complete, you must submit the authorization letter to SASRA (Sacco Companies Regulatory Authority) along with your SACCO registration form for inspection. Below is a summary of the documents you need to submit;

  • Completed license application
  • Certified Sacco Society Registration Form
  • Confirmed Notifications from Registered Sacco Companies
  • Certified copy of Sacco Society Constitution
  • The three-year business plan and feasibility study of the Sacco company will be authorized to define the vision and objectives, the scope and nature of the business activity, the expected profit to achieve the wise standards, management and the minimum monitoring system.
  • An approved extract from the minutes of the resolution of the general assembly authorizing the application of depository receipts.
  • The name of the manager is required
  • Certified copies of financial statements for the last three years, if applicable.
  • Proof that the Sacco Society has sufficient capital
  • Application fees of three thousand Kes
  1. If satisfied, SASRA will issue a letter of intent, upon which SACCO will be required to develop its business premises, set up a management information system (MIS) and develop a comprehensive framework risk management.
  2. Once all the above are done, SASRA will conduct an on-site inspection within 30 days.
  3. If satisfied, SASRA will issue a letter of acceptance to the SACCO within 30 days.
  4. SASRA will also authorize upon payment of a SACCO license fee of KShs 50,000 for head office and KSh 20,000 for each branch owned. It takes an average of 4 months for SASRA to issue a license. Authorization to operate deposit will be renewed annually (valid until 3 December 1 of the year granted)

A SACCO must at all times:

  • Core capital of at least ten million shillings;
  • Core capital of at least ten percent of all assets;
  • Corporate capital of at least eight percent of total assets; And
  • Core capital is at least eight percent of the total
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