- Mwalimu National is the largest SACCO in terms of assets, reaching Sh66.43 billion
- Stima DT and Kenya National Police DT also display substantial growth and play crucial roles in their sectors
- SACCO membership increased to 6.84 million in 2023 with a significant increase in loan portfolio to Sh758 billion
In a recent unveiling by the Sacco Societies Regulatory Authority (SASRA), the 2023 annual supervision report highlighted the remarkable financial health and growth of Kenya's Savings and Credit Cooperative Organizations (SACCOs).
The event, led by the Ministry of Cooperatives & MSMEs Cabinet Secretary Wycliffe Oparanya, emphasised the SACCOs' resilience and expansion despite challenging economic conditions.
Leading SACCOs in asset growth
The report announced that regulated SACCOs have significantly increased total assets, reaching Sh971 billion.
READ: 6 downsides of SACCOs in Kenya you should know about before joining one
Mwalimu National leads the pack with a jump from Sh54.06 billion in 2022 to Sh66.43 billion in 2023, cementing its position as the largest SACCO in asset terms.
Following closely are Stima DT and Kenya National Police DT, both showing substantial growth and playing crucial roles in their respective sectors.
Significant performers and notable growth
Other SACCOs showing impressive growth include Harambee and Tower, with Harambee’s assets increasing from Sh37.01 billion to Sh38.57 billion and Tower’s from Sh19.57 billion to Sh23.23 billion.
Afya, a SACCO primarily serving the healthcare sector, more than doubled its assets, highlighting its growing impact on its members' financial capabilities.
CS Oparanya noted an increase in SACCO membership to 6.84 million in 2023, up from 6.42 million in the previous year.
This rise in membership, coupled with an 11.50% increase in loan portfolio to Sh758 billion, underscores the critical role SACCOs play in promoting financial inclusion and supporting Kenya’s socio-economic development.
READ: Early warning signs that your sacco is collapsing & how to protect your money
CS Oparanya reiterated the Government’s commitment to supporting cooperative enterprises as vital contributors to the Bottom-up Economic Transformation Agenda and the Kenya Vision 2030 goals.
The Ministry will continue to collaborate with the SACCO industry to align with the United Nations Resolution, promoting the use of cooperative enterprises as vehicles for economic empowerment and poverty alleviation.
| Ranking | Name of DT-SACCO Society | Total Assets 2023 (Sh in billions) |
|---|---|---|
| 1 | Mwalimu National | 66.43 |
| 2 | Stima DT | 59.15 |
| 3 | Kenya National Police DT | 54.24 |
| 4 | Harambee | 38.57 |
| 5 | Tower | 23.23 |
| 6 | Afya | 22.79 |
| 7 | Unaitas | 22.7 |
| 8 | Imarisha | 21.78 |
| 9 | United Nations DT | 18.21 |
| 10 | Ukulima | 15.18 |
| 11 | Hazina | 14.7 |
| 12 | Gusii Mwalimu | 14.3 |
| 13 | Invest and Grow | 14.06 |
| 14 | Mentor | 13.47 |
| 15 | Imarika | 13.11 |
| 16 | Bandari DT | 12.68 |
| 17 | Transnation | 12.02 |
| 18 | Safaricom | 11.48 |
| 19 | Boresha | 11.35 |
| 20 | Winas | 11.28 |
| 21 | Newfortis | 11.12 |
| 22 | Kimisitu | 11.07 |
| 23 | Cosmopolitan | 10.29 |
| 24 | Kitui Teachers | 10.1 |
| 25 | Ollin | 9.95 |
| 26 | Kenya Bankers | 9.69 |
| 27 | Solution | 9.47 |
| 28 | Ports DT | 9.17 |
| 29 | Sheria | 9.14 |
| 30 | Magerza | 7.95 |
| 31 | Unison | 7.73 |
| 32 | Bingwa | 7.64 |
| 33 | Amica | 7.18 |
| 34 | Ushuru | 6.87 |
| 35 | Waumini | 6.85 |
| 36 | Yetu | 6.42 |
| 37 | Fortune | 6.26 |
| 38 | K-Unity | 6.21 |
| 39 | Jamii | 5.73 |
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