Kiambu: A three-day capacity-building workshop led by the Sacco Societies Regulatory Authority (SASRA) concluded today, equipping cooperative officers across Kiambu County with enhanced regulatory and operational competencies.
According to Kenya News Agency, the workshop was hosted at the Kiambu Institute of Science and Technology and featured intensive sessions covering financial governance, regulatory compliance, and emerging digital challenges within the cooperative sector.
Speaking at the event, acting SASRA Chief Executive Officer, Mr. David Sandagi, emphasized the strategic importance of the training. 'We aim to establish a robust supervisory layer at the county level. Competent officers form the crucial first line of defence for Sacco stability and protection of members' investments. This workshop aligns with our broader strategy to strengthen regulations and promote sound financial management countywide,' he said.
The officers engaged in detailed discussions on financial reporting standards, internal auditing procedures, and risk assessment protocols tailored for cooperatives. The training also covered governance and legal directives unique to county cooperatives.
Instructors guided participants through recent amendments to the Sacco Societies Act, focusing on investment regulations and compliance standards to ensure member funds are protected and institutions remain viable in the long term. Janet Mwangi, a cooperative officer from Juja, described the training as both timely and practical. 'We participated in hands-on sessions on the newly gazetted Sacco Societies Act amendments. A significant focus was on the application of International Financial Reporting Standards (IFRS),' she explained.
Officers also received guidance on Anti-Money Laundering and Countering the Financing of Terrorism awareness. Facilitators stressed the importance of data privacy and digital resilience as SACCOs increasingly adopt fintech solutions and mobile platforms to serve their members.
The training supports SASRA's goal of fostering a stable, member-focused SACCO industry by empowering county officers. It also encouraged peer learning, allowing officers to share experiences and discuss operational challenges unique to their regions.
The expertise gained is expected to enhance the quality of Sacco audits and inspection reports submitted to SASRA, and to establish a permanent framework for knowledge sharing countywide to address sector challenges promptly.
SASRA is the government agency mandated to regulate and supervise Kenya's SACCO Societies under the Sacco Societies Act (No. 14 of 2008), ensuring prudent financial management and protection of members' interests.