To develop, regulate and promote an internationally recognized accountancy profession that upholds public interest through capacity building, advocacy, innovation and sustainable practices.
THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
SACCO SECTOR CONFERENCE 2025
Theme: Strengthening SACCO Governance and Leadership for Sustainable Growth
DATE: 20th – 22nd August 2025
VENUE: Sarova Imperial Hotel, Kisumu
OVERVIEW
The Savings and Credit Cooperatives (SACCO) sector plays a pivotal role in the financial inclusion ecosystem, providing essential financial services to individuals, especially those in rural areas. It empowers communities by promoting financial inclusion and providing access to credit, savings, and other financial services. In Kenya, SACCOs hold a prominent economic position, contributing about 35% of the gross domestic product (GDP). Over the years, SACCOs have become crucial in driving economic empowerment by offering affordable credit, savings, and insurance services.
SACCOs have historically faced challenges such as weak governance, under-capitalization, and non-compliance with reporting standards and sustainability. These issues have prompted tighter regulatory oversight by the SACCO Societies Regulatory Authority (SASRA) and the Central Bank of Kenya (CBK), aimed at safeguarding member deposits and ensuring the financial stability of SACCOs. This is notwithstanding the recent scandal and public outcry witnessed in KUSCCO.
The Financial Reporting (FiRe) Award 2024 provided valuable lessons for the SACCO sector. A few SACCOs demonstrated exemplary practices in financial reporting, governance, and sustainability. These SACCOs adhered to IFRS standards and integrated Environmental, Social, and Governance (ESG) principles into their operations, enhancing transparency and stakeholder confidence. The FiRe award highlighted critical issues affecting SACCOs’ compliance and operational efficiency. Among the most pressing challenges were governance weaknesses, inadequate capitalization, technological gaps, and fraud.
Weak governance structures, including ineffective board oversight and unqualified board members, led to poor decision-making and financial mismanagement. Additionally, the failure to separate ownership and management roles resulted in conflicts of interest and unethical practices. Inadequate capitalization is another major concern, with many SACCOs struggling to meet the minimum capital adequacy requirements set by SASRA and CBK. Over-reliance on member deposits without diversifying income streams further exacerbates financial instability.
Technological adoption remains a significant gap, with many SACCOs resisting the integration of digital systems for record-keeping and service delivery. This resistance has hampered operational efficiency and transparency, while also exposing SACCOs to cybersecurity risks. Fraud and corruption continue to plague the sector, driven by poor internal controls and the misappropriation of funds. Additionally, limited membership and inadequate training for SACCO staff have resulted in apathy and weak oversight from members.
This SACCO Sector Conference presents a significant opportunity for all stakeholders involved to reflect on the challenges facing the sector while exploring opportunities for innovation and growth. By fostering a collaborative environment, the conference aims to build the capacity of SACCO leaders and members to navigate the changing financial landscape and ensure the continued success and relevance of SACCOs.
The following topics will be covered in the conference:
1. SACCO Compliance Framework: Understanding the legal and regulatory framework governing SACCOs in Kenya.
2. About SASRA: Detailed understanding of SASRA’s role, mandate, and its impact on SACCOs. Key Reports from SASRA: Insights from SASSRA reports on SACCO performance, challenges, and compliance trends.
3. Feedback from the FiRe Award: Lessons learned from the Financial Reporting (FiRe) Award and their implications for SACCOs.
4. Insights from the Central Bank of Kenya: Analyzing the role of the CBK in SACCO regulation and support.
5. Financial Reporting Standards for SACCOs: Navigating IFRS and other relevant reporting standards-IFRS 9-Financial Instruments:
• Loans, receivables, and member deposits, how recognize, measure, and report their financial assets and liabilities.
• Investments (e.g., in government securities or other financial institutions)
• Impairment – Expected Credit Loss (ECL) Model Stage1, Stage 2, Stage 3
• SACCOs to develop models or frameworks for: Assessing credit risk; Determining significant increases in credit risk; Estimating ECL using historical data, current conditions, and forward-looking information
• Auditing of SACCOs
6. Governance in SACCOs: Enhancing governance practices to ensure sustainability and compliance.
7. Non-Compliance with Society Act, Cooperative Act Challenges: Addressing key reasons for non-compliance and strategies for improvement.
8. Risk Management in SACCOs: Identifying and mitigating risks in SACCO operations.
9. Anti Money Laundering: Requirements for Accounting Professionals in SACCO Sector.
10. Data Protection & Privacy – Implications to Professionals & Way within the SACCO sector.
TARGET AUDIENCE:
The conference is targeted at a wide range of professionals and organizations in the SACCO sector, including:
• SACCO managers, board members, and staff
• Financial regulators (e.g., Sacco Societies Regulatory Authority (SASRA))
• Policy makers in the financial services sector
• SACCO members and their representatives
• Development partners, NGOs, and donor organizations involved in financial inclusion
• Researchers and academia focusing on cooperative finance
• Technology and financial service providers offering digital solutions for SACCOs
CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS (CPD UNITS):
Members of ICPAK and reciprocating professional bodies will be awarded 20 CPD Units upon successfully attending the conference.
CONFERENCE CHARGES:
| Details | Amount |
| Associate Members | KShs 40,000 per Delegate |
| Full Members | KShs. 45,000 per Delegate |
| Non-Member | KShs. 50,000 per Delegate |
| Accommodation** | Delegates are advised to make own accommodation arrangements |
ONLINE BOOKING:
We call on Webinar participants to note that booking is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions is MANDATORY.  This is available either online at www.icpak.com/events  or on the ICPAK Live – A smart phone-based application that is available from google store.
NATIONAL INDUSTRIAL TRAINING AUTHORITY (NITA) REIMBURSEMENT:
The Institute is registered as a trainer with the National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke.
Further requests can be channeled to us via telephone calls on +254 719 074 000, or via email to marketing@www5.icpak.com
To develop, regulate and promote an internationally recognized accountancy profession that upholds public interest through capacity building, advocacy, innovation and sustainable practices.
