NAIROBI, Kenya — Forty-eight representatives from Ghana, Kenya, Malawi, Rwanda, Tanzania, South Africa and Uganda recently came together for the first African SACCO Regulators’ Roundtable held by the World Council of Credit Unions and the Canadian Co-operative Association.

Collectively, the representatives regulate 7,000 SACCOs, which are credit unions, with 5.3 million members and US $2.4 billion in assets. Topics on the agenda ranged from key differences in legislation between microfinance institutions and SACCOs, access to clearing and settlement systems, transparency in reporting, strategies for supervising large numbers of small SACCOs, to prudential and operational standards for SACCOs and service to nonmembers.

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