Keep an accurate register
Know who every member is, and be able to prove it when dividends, loans or votes are disputed.
Financial services
Financial services / Cooperatives
Cooperatives outside SASRA still answer for who their members are.
Cooperative societies, including non-deposit-taking (BOSA-only) SACCOs, are registered under the Co-operative Societies Act and supervised by the Commissioner for Cooperative Development and county cooperative departments. Reform proposals would tighten supervision of the sector.
At a glance
Who sets the rules?
Primary regulator
Commissioner for Cooperative Development and county governments
Who this covers
Agricultural, housing, transport, investment and other cooperative societies, and non-deposit-taking SACCOs outside SASRA's licensing.
Regulations that apply
Co-operative Societies Act (Cap. 490)
Registration, member registers, governance, audit and inquiry powers for cooperative societies.
Proposed cooperative sector reforms
Proposals to replace the current Act and strengthen supervision; track the latest status before planning around them.
POCAMLA, 2009
Applies to cooperatives that handle funds in ways that make them reporting institutions, and to any cooperative's banking relationships.
Data Protection Act, 2019
Lawful processing and safeguarding of members' identification data and registers.
What you have to do
Verify officials
Confirm the identity of committee members and signatories, and screen them.
Document decisions
Keep a record of who approved membership, payouts and loans, and on what evidence.
Satisfy your bank
Banks holding cooperative accounts expect due diligence on the society and its signatories.
Fraud to watch for
Fictitious members
Names added to registers to divert dividends, payouts or loans.
Signatory impersonation
Forged IDs or instructions used to move a society's funds.
Disputed elections
Votes cast by people who are not, or are no longer, members.
How Sentinel helps
- Member verification that builds a register you can defend.
- Identity checks and screening for officials and signatories.
- A review trail for audits, inquiries and member disputes.
General information, not legal advice. Last reviewed October 2026. Requirements change, so confirm the current position with the regulator or your counsel before relying on it.