Licensing Regime
Licensing directives outline the minimum prerequisites for operating in the financial cooperative sector. The table below provides a concise overview of specific requirements for each type of financial cooperative. Nevertheless, applicants are strongly encouraged to thoroughly review the relevant directives to gain a comprehensive understanding of all the stipulated prerequisites.
| Entity | Application Fee | Minimum Capital | Governance | Duration |
|---|---|---|---|---|
| Primary SACCO | MK150,000 | MK2 million | Board of Directors and Senior Management | Term Limits for Directors |
| Secondary SACCO | MK300,000 | MK30 million | Board of Directors and Senior Management | Term Limits for Directors |