Nairobi, Oct. 4 -- Sacco members face cuts on dividends after the regulator asked cooperatives to make provisions of about Sh7.67 billion in the insolvent Kenya Union of Savings and Credit Co-operatives (Kuscco).

The additional provisioning, expected this financial year, comes as Saccos already retain a larger share of their surpluses to strengthen their capital. This will set the stage for a second consecutive year of lower average payouts to members from profits.

Published by HT Digital Content Services with permission from Business Daily....