SASRA Hosts Nigerian Delegation to Strengthen SACCO Ties

Strengthening Cross-Border SACCO Cooperation

The Sacco Societies Regulatory Authority (SASRA) has hosted a high-level Nigerian delegation in Nairobi, marking a major step in enhancing cooperative collaboration across Africa. The visit showcased Kenya’s SACCO model and its regulatory success under SASRA’s leadership.
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Key Highlights from the Visit

The Nigerian team, led by Senator Dr. Aliyu Sabi Abdullahi, CON, included senior officials from the Federal Ministry of Agriculture and Food Security. Their discussions focused on regulation, technology, and governance in SACCO operations.

Key outcomes included:

• Learning from Kenya’s shared services model that improves cost efficiency and compliance.

• Reviewing Nigeria’s National Credit Registry system for better borrower monitoring.

• Exploring ways to harmonize cooperative laws and digital transformation strategies.

SASRA’s Acting CEO, CPA David Sandagi, emphasized that SACCO leadership must uphold member trust and transparency to sustain sector growth.

Why This Visit Matters to Kenya’s SACCO Sector

1. Promoting Innovation in Regulation

Kenya continues to lead in SACCO governance and supervision. Hosting Nigeria strengthens Kenya’s reputation as a regulatory model for Africa and promotes innovation exchange.

2. Enhancing Institutional Learning

Both countries benefit through shared knowledge. Nigeria’s experience with credit data systems can help Kenya reduce loan defaults, while Kenya’s governance model inspires sustainable SACCO management.

3. Boosting SACCO Visibility in Africa

This engagement elevates Kenya’s SACCOs globally. It shows that proper regulation, transparency, and innovation can create resilient financial cooperatives.

4. Encouraging Policy Alignment

Cross-border collaboration encourages aligned standards, making it easier for African SACCOs to cooperate, access funding, and build trust with international partners.

Following SASRA Rules for Sustainable Growth

SACCOs must adhere to SASRA’s regulatory framework to ensure long-term stability and protect members’ savings.
Essential rules include:

• Operating only under valid SASRA licenses.

• Maintaining good governance and timely reporting.

• Implementing risk management and digital security systems.

• Ensuring transparency and member-focused service.

Compliance builds confidence and positions SACCOs as reliable financial partners.

How SACCO Leaders Can Build on This Partnership

To benefit from such international cooperation:

1. Adopt best practices from Kenya and Nigeria’s SACCO models.

2. Review your SACCO policies for compliance and efficiency.

3. Use digital tools for smarter service delivery.

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Conclusion

SASRA’s initiative to host a Nigerian delegation reflects Africa’s growing commitment to cooperative excellence. Through collaboration, innovation, and strict adherence to regulation, SACCOs can drive financial inclusion and empowerment across borders.