The Sacco Societies Regulatory Authority will conduct the investigation to determine if Kuscco is undertaking unregulated sacco business in breach of the law.
Cabinet Secretary Simon Chelugui said regulated Sacco business as prescribed by law entails either deposit-taking sacco business or specified non-deposit-taking business.
The saccos umbrella organisation, the Kenya Union of Savings and Credit Cooperative Society (Kuscco) is under investigation for allegedly engaging in illegal deposit-taking business.
The Sacco Societies Regulatory Authority (Sasra) will conduct the investigation to determine if Kuscco is undertaking unregulated sacco business in breach of the law and recommend sanctions on its officials and directors.
