1.9 Million Sacco Members Stop Savings - Report

Hello and welcome to the Money News Roundup. Today, we cover the rise in dormant SACCO accounts and the latest legal tussle surrounding Dangote’s proposed Lamu refinery. 

1.9 Million Sacco Members Become Dormant - SASRA Report

The number of dormant members in Kenya’s regulated Saccos rose 14.1% to 1.9 million in 2025, reflecting growing pressure on household finances.

As reported by the Business Daily, data from the Sacco Societies Regulatory Authority (SASRA) shows dormant members accounted for 24.1% of the sector’s 7.87 million members, with those inactive for more than six months classified as dormant in deposit-taking Saccos.

Overall membership increased 6.6% to 7.87 million, but active membership grew by only 4.4% to 5.97 million.

Workers’ purchasing power declined 10.7% to 12% over five years amid rising taxes, statutory deductions and living costs, according to the Kenya Bankers Association. Dormant accounts may require reactivation fees.

Meanwhile, members’ deposits and savings increased to Ksh832.74 billion from Ksh749.43 billion, while gross loans rose to Ksh948.67 billion from Ksh845.11 billion.

Sasra said the widening gap between deposits and loans was being financed through retained earnings, reserves and external borrowing.

The regulator urged Saccos to develop products and conduct surveys to understand and reactivate dormant members.

133 Lamu Residents Move to Court to Stop Ksh2 Trillion Dangote Refinery Project

Aliko Dangote’s proposed Ksh2 trillion oil refinery project in Lamu has faced a legal challenge from 133 Chandavai residents ahead of its planned September 30 groundbreaking ceremony.

As reported by Citizen Digital, the residents have sued the national government, Dangote Industries, among other parties, seeking to stop construction activities on disputed land.

They claim their families have occupied, cultivated and developed the land for generations despite lacking formal title deeds.

The residents allege that government agents and heavy machinery entered the land in August 2024, destroying crops and property without notice or compensation. They now claim preparatory activities for the refinery began in July 2026 and that some residents were recently evicted to facilitate the groundbreaking ceremony.

They want the court to halt further construction and recognise their claimed interests in the land.

Meanwhile, as reported by the Star, the court has declined to pause the project and ordered parties to maintain the status quo on the land until October 14. 

CFAO Overtakes Isuzu in August Vehicle Sales

CFAO Mobility Kenya overtook Isuzu East Africa in August vehicle sales, latest data from the Kenya Motor Industry Association (KMIA) shows.

As reported by Capital Business, CFAO sold 683 units, slightly ahead of Isuzu’s 681. In July, CFAO sold 617 vehicles, while Isuzu led with 734 units. Simba Corporation ranked third with 108 units, followed by Tata Holdings Africa with 62, Scania East Africa with 17, Crown Motors with 14 and Inchcape Kenya with 13.

KMIA attributed demand for heavy commercial vehicles partly to Ksh139 billion mobilised to clear contractor bills and restart road projects. Overall, dealers sold 1,592 units in August, down from 1,677 in July.

Mauritius Bank Wins Ksh841 Million Claim Against Kenyan Oil Marketer

Mauritius Commercial Bank (MCB) is set to recover about Ksh841 million (US$6.5 million) from Kenyan oil marketer Jade Petroleum after the High Court upheld its claim over payments made under standby letters of credit.

As reported by the Kenyan Wall Street, the bank paid the amount in December 2015 after Rand Merchant Bank declared Jade Petroleum in default on a fuel-financing facility.

The court rejected Jade’s argument that MCB could not recover the money because it was not party to the original financing agreement. Justice Aleem Visram ruled that MCB’s recovery rights arose from the payment it made under the letters of credit.

However, the court dismissed MCB’s claim against three guarantors after finding that the bank failed to prove that formal payment demands had been properly dispatched as required under the guarantees.

Shelter Afrique Plans Ksh64.83 Billion Bond in 2027

Shelter Afrique plans to issue a about Ksh64.83 billion ($500 million) sustainability-linked bond in East Africa in the first quarter of 2027 to finance housing projects.

As reported by the Business Daily, the Pan-African housing development bank will target Kenya, Uganda, Tanzania and Rwanda, with most of the bond expected to be floated on the NSE due to its market depth and liquidity.

Shelter Afrique CEO Thierno-Habib Hann said raising funds in local currencies would help shield housing projects from foreign exchange risks associated with hard-currency borrowing.

Shelter Afrique had assets worth Ksh30.44 billion at the end of 2025, including Ksh22.57 billion in customer loans.

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