Saccos' Sh40b at risk as regulator warns of foreign aid dependence

Close to Sh40 billion worth of members’ deposits held in Saccos affiliated to implementing agents of foreign aid are at risk following geopolitical shifts in external funding to needy nations such as Kenya.

Saccos affiliated to organisations that depend on this stream of funds are said to have been left exposed as countries such as the United States cut back on foreign aid.

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Close to Sh40 billion worth of members’ deposits held in Saccos affiliated to implementing agents of foreign aid are at risk following geopolitical shifts in external funding to needy nations such as Kenya.

Follow The Standard
channel
on WhatsApp