IMPLICATIONSOFSACCOSOCITIESACT2008ONSACCOGOVERNANCE.pptVIP

PRESENTATION BY JOSEPH TARACHA E- mail: jtaracha@ ;Minimum capital requirements: Sacco societies shall maintain minimum capital requirements as prescribed by SASRA or else pay a penalty interest not more than 1% of the amount of deficiency for every day with deficiency. Minimum liquid assets: Sacco societies shall maintain minimum liquid assets as prescribed by SASRA. Prohibited business: Sacco societies shall only engage in businesse prescribed by SASRA. ;Place of business: A Sacco society can only open a branch or new place of business or change its location with approval of SASRA. Contrav