CS Oparanya appoints new member to SASRA board

Cabinet Secretary for Co-operatives and Micro, Small and Medium Enterprises (MSMEs) Development, Wycliffe Oparanya, has appointed George Mwangi Maina as a member of the Board of Directors of the SACCO Societies Regulatory Authority (SASRA).
The appointment, announced through a gazette notice dated January 17, 2024, takes effect immediately and will last for three years.
In the same notice, Oparanya revoked the appointment of Timothy Kihara Ngure.
“In exercise of the powers conferred by section 6 (1) (e) of the Sacco Societies Act, as read together with section 51 (1) of the Interpretation and General Provisions Act, the Cabinet Secretary for Co-operatives and Micro, Small and Medium Enterprises (MSME) Development appoints George Mwangi Maina to be a member of the Board of Directors of the SACCO Societies Regulatory Authority for a period of three years, effective January 17, 2025,” the notice reads.
The SASRA board plays a critical role in the regulation and supervision of SACCO societies in Kenya, ensuring the stability and development of the sector while safeguarding members’ interests.
Some of the board’s key responsibilities include licensing SACCOs to engage in deposit-taking activities, supervising and regulating them to promote sound business practices, enhancing financial stability and access to financial services, developing the SACCO industry while protecting members’ interests, and managing the Authority’s General Fund along with collecting levy contributions.