National Assembly Explains SACCO Bill After Reports Ruto Will Control SACCO Savings
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The National Assembly has dismissed reports claiming that President William Ruto will take control of SACCO members’ savings through the proposed Sacco Societies (Amendment) Bill, 2025.
In a statement released on Wednesday, Parliament said the claims circulating online are false and urged Kenyans to verify information before sharing it.
Parliament Denies President Will Control SACCOs
According to the National Assembly, the proposed Bill does not give the President powers to appoint SACCO management committees.
Instead, members of individual SACCOs will continue electing their own leaders, while Primary SACCO Societies will choose representatives to Secondary SACCO Societies as provided under the law.
Parliament said the Bill is currently before the Departmental Committee on Trade, Industry and Cooperatives, where Kenyans and other stakeholders are submitting their views through the public participation process.
No “Super SACCO” Planned
The National Assembly also dismissed claims that the government wants to create a “Super SACCO” to take over members’ money.
It explained that the Bill only proposes the creation of a Secondary SACCO Society made up of Primary SACCO Societies.
According to Parliament, the new society would help SACCOs access payment systems, improve investment services, enhance service delivery, and make it easier to transfer funds between member SACCOs.
It added that the proposed Secondary SACCO Society will not lend money to individuals or the government.
Bill Has Been Under Review for Over a Year
Parliament also rejected claims that the Bill is being rushed through the National Assembly.
Lawmakers noted that the Bill was published on June 30, 2025, and has been undergoing the normal legislative process, including public participation, before it can be debated and passed.
Claims Over Members’ Savings
The clarification follows widespread reports on social media claiming the government planned to take control of SACCO savings and use members’ money to finance national development projects.
Some reports alleged that the National Treasury wanted to access more than KSh1 trillion from SACCOs through the proposed law.
However, Parliament has maintained that the current Bill contains no provision allowing the government or the President to take over members’ savings.
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