The Chief Executive officer of Sacco Regulatory Authority (SASRA) John Mwaka has put on notice Saccos operating without licenses.
He said despite Kenya having many Saccos, majority of them are not registered and licensed, causing systemic risk to members' savings.
"Our mandate is to regulate and monitor Saccos and ensure they are licensed to prevent exploitation of members," he said.
Speaking during the Noble Sacco Annual Delegates meeting on Monday, Mwaka said that Kenya has 70,000 Saccos and only 177 are fully registered.
"The number of unregistered Saccos is wanting, we have started a crackdown on the same and will soon parade them in a list of shame for Kenya to be in the know," he said.
He urged Kenyans to join Saccos that are fully licensed to avoid being conned.