The Sacco Societies Regulatory Authority (SASRA) is a statutory state corporation established under the Sacco Societies Act (Cap 490B) of the Laws of Kenya (the Act) which came into full operation upon the gazettement of the Sacco Societies (Deposit-taking Sacco Business) Regulations, 2010 (the Regulations 2010) on 18th June 2010.
The mandate of the Authority as provided by the Act includes the following:
- Licence Sacco societies to carry out deposit-taking business in accordance with this Act;
- Regulate and supervise Sacco societies;
- Hold, manage and apply the General Fund of the Authority in accordance with the provisions of this Act;
- Levy contributions in accordance with this Act;
- Do all such other things as may be lawfully directed by the Minister; and
- Perform such other functions as are conferred on it by this Act or by any other written law