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Saccos in Kenya – List of Registered Saccos in Kenya

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SACCOS in Kenya

The Sacco industry is part of the cooperative sector in Kenya, which has impacted on lives of many disadvantaged Kenyans over the years.  Saccos in Kenya may be categorized into financial and non-financial cooperatives.

Non-financial cooperatives deal with the marketing of members’ produce and services such as dairy, livestock coffee, tea, handicrafts and many more similar cooperatives. On the other hand financial cooperatives comprise Saccos, housing and investment cooperatives

The Sacco sub sector can be described as two-tiered given the range of financial services to members and regulatory regime. The traditional Savings and Credit Cooperative Societies (Saccos), described in law as Non-Deposit taking Saccos provide a limited range of savings and credit products, are registered and supervised under the Cooperative Services Act, CAP 490. The Deposit Taking Saccos (DTS) besides the basic savings and credit products, also provide basic ‘banking’ services (demand deposits, payments services and channels such as quasi banking services commonly known a ATMs), FOSA and are licensed and supervised under the Sacco Societies Act of, 2008. The general trend is that Saccos start as non-deposit taking Sacco business and grow to deposit taking Sacco business to expand the range of financial services to members.

By December 2013 there were over 6,000 registered non-deposit taking Saccos in Kenya, 1,995 of which were active. Active in this context means the Saccos that filed their audited financial statements with the Commissioner for Cooperative Development as a legal requirement.

By close of 2013, there were 215 deposit taking Saccos out of which one hundred and thirty-five (135) were licensed by SASRA. The remaining 80 Saccos were still working to satisfy the licensing requirements as they have up to june l7th 2014 to comply or cease deposit taking Sacco business. The 215 DTS account for 78% of the total assets and deposits of the entire Sacco sub-sector. Further, they command 82% of membership in the Sacco industry.

About SACCOS in Kenya

Saccos in Kenya – What is a SACCO?

SACCO stands for Savings and Credit Cooperative which is a special type of co-operative offering financial services with major focus on mobilization of funds and provision of affordable credit to its members who are both the owners and users.

Saccos in Kenya – Why do we have SACCOS?

The primary purpose of the SACCO is to encourage savings among members from which they can borrow at affordable terms decided bythemselves collectively orthroughthe elected directors. Other financial services SACCOs offer include ATM, Mobile money transfer and custody of valuable documents.

The SACCO generates income by providing these services which it uses to meet the related costs. Any income that remains after these costs is paid outto members as dividends and interest based on their shares or deposits.

Saccos in Kenya – What is a FOSA?

A: FOSA stands for Front Office Services Activities and refers to the ‘banking’ like services provided by SACCOs. Through the FOSA, members of the SACCO can easily access services including cash withdrawals over the counter, ATM or mobile phone.

How does a SACCO operate?

SACCOs are managed by staff employed by the Board on behalf of the members and the Chief Executive Ofificer is responsible for the day-to-day running of the SACCO business. The Board reports to the members on the management of the SACCO at least once a year during the annual general meeting (AGM) or annual delegates meeting (ADM). During the AGM or ADM, the members also get a chance to assess the performance of a Sacco and make decisions concerning their SACCO.

Saccos in Kenya – What is a common bond?

The common bond is what unites all the members of a SACCO. All members share this in common. The members decide what unites them, this could be their occupation like farming, church, employment or where they live.


Saccos in Kenya – What is SASRA and what is its role?

SASRA stands for the SACCO Societies Regulatory Authority. lt is an organisation started by the government to ensure safety of members’ deposits in SACCOs operating FOSA. SASRA licenses and supervises the SACCOs operating FOSA. Any Sacco intending to start a FOSA must be licensed by SASRA before operations.

Saccos in Kenya – Who has given SASRA authority to supervise deposit-taking (FOSA) SACCOS?

SASRA was started by the government in accordance with the new SACCO law (Sacco Societies Act, 2008) to license, regulate and supervise deposit-taking (FOSA) SACCOs.

Saccos in Kenya – When did the new SACCO law start?

The new SACCO law (Sacco Societies act 2008) was operationalized on 26th September 2009

Saccos in Kenya – Can SASRA stop a SACCO from failing?

SASRA’s responsibility is to try to prevent failure by ensuring SACCOs comply with standards set in the new law to ensure they remain in operation. This is done through carrying out inspection of the SACCO both from SASRA offices and at the SACCOs to see if there are signs of possiblefailure.

Saccos in Kenya – Which SACCOS should apply for licensing?

A: Any SACCO Societies with a FOSA or those planning to operate a FOSA have to apply for a license. A SACCO should obtain licenses for its head oifice and each oithe branches (FOSAs).

A SACCO license is valid for one calendar year ending 3lst December and is regardless of date of licensing. A licensed SACCO is required to apply for renewal of a license at least ninety (90) days before the expiry of a license which would be by end of September of each year.

Saccos in Kenya – What happens if a Sacco starts operating a FOSA without a license or does not renew its License(s)?

lf this happened SASRA would be forced to close the FOSA and charge the SAC(Os officers responsible as operating a FOSA without a license is an offence.

Saccos in Kenya – What happens to a Sacco that applies and does not meet licensing requirements?

Upon application for a license, SASRA shall advise each SACCO accordingly.

Saccos in Kenya – I have a complaint about my SACCO. Can SASRA help me?

Yes, SASRA can assist in matters pertaining to regulatory or criminal wrong doing by the Saccos or its board ofdirectorsand staff. lfyour complaint pertains to a regulatory or criminal matter, you can submit your complaint with our office. However, the new Sacco law has not addressed issues to do with individual share refund issues, member and SACCO contractual agreements, any legal issue that involves an individual member and his/her SACCO are can be guided by the Sacco by-laws.

Saccos in Kenya – How do I know whether my Sacco is licensed by SASRA?

All the licensed Saccos are gazzetted in the Kenya gazette in addition, SASRA publishes all licensed SACCO societies in the leading daily newspaper every beginning of the year. This list is also available in SASRA website, Finally, licensing is
such an important legal issue that the Board of your SACCO will
always inform the members through the AGM or ADM.

Types of Registered SACCOS in Kenya

Saccos in Kenya – Diaspora Saccos

To ensure they are felt back home, Kenyans in the diaspora have formed Saccos, through which they can invest in property and business.

Diaspora remittances are growing at a rate of 43 per cent year on year. The Diaspora Saccos intend to harness these individual small streams into a mighty river of collective power and channel them into investment projects, which can attract even higher remittances.

The Kenya USA Diaspora Sacco was launched during the 2012 Kenya Diaspora Conference — USA in Arlington, Virginia. This was the second Diaspora Sacco established after the Cooperative Development ministry registered Kenya Diaspora Sacco in April 2012.

The Sacco enables Kenyans living in the United States to access capital and fully participate in emerging markets in Kenya as Well as the opportunities in the East African Community.

The Sacco plans to launch a chapter in every state in the US to make sure every Kenyan living in the US has access to affordable credit.

Kenyans in the United Kingdom also launched a Sacco, which was the third diaspora society.

Saccos in Kenya – Youth Saccos

With 73 per cent of Kenya’s population under the age of 30 and 43 per cent under the age of 15, the youth factor is an important social-political and economic factor.

The cooperative movement, therefore, has in the past tried to ensure that this populace is absorbed into the sector. The 2011 World Cooperatives Day, popularly referred to as Ushirika Day, celebrations intentionally focused on the youth, under the theme Youth, the Future of Cooperative Enterprise. There is consensus that the youth have not been keen to join the movement because they consider cooperatives as clubs for elderly people.

The Ministry of Cooperatives is working closely with the youths to ensure they provide whatever is close to their hearts.

As part of the efforts, the Cooperative Insurance Company (CIC) in partnership with the Ministry, is involved in promoting the cooperative model of enterprise to the youth, with university students a key target.

A campaign dubbed I’m a Co-operator seeks to impress upon young people the importance of cooperatives as a development tool that can effectively transform lives economically and socially.

Other ventures of interest include the introduction of boda boda businesses in which youths are encouraged to form groups through to buy motorbikes for the boda boda businesses.

Cooperative Bank is targeting the youth with special packages like investing in specific items for their groups, such as motorbikes, vehicles, computers and laptops.

Yet another area of exponential growth is the ICT sector Where

Saccos in Kenya – Matatu Saccos

To bring sanity to public transport, matatu and bus operators had to organize themselves into cooperatives of companies for ease of management and enforcement of discipline.

It was mandatory for all those seeking a Transport Licensing Board (TLB) certification to be members of a Sacco or belong to a company. About 1,000 matatu Saccos and 400 companies have been registered.

Matatu operators, who constitute 80 per cent of the public transport system, are estimated to have an annual turnover of Kshs73 billion.

To its credit, the sector buys Kshs4 billion insurance premiums every year and remits Kshs1 billion taxes annually.

The Matatu Saccos have played a significant role in the growth of public transport and some have now become respected brands in the sector.

The Saccos proved to be the most viable way to manage large public transport fleets. They have also been pioneers in changing the image of public transport, which was dominated by rogue drivers and touts without regard for traffic rules.

With the expected phasing out of the 14-seater vans, cooperative societies are poised to play an even bigger role in supporting the government’s initiative.

Saccos in Kenya – Housing Saccos

There are currently 440 housing cooperatives (248 active) under the umbrella of Nachu. With the development of the movement, it’s a guarantee that low income earners can access affordable and decent housing.

Cooperatives have also invested in commercial buildings countrywide.

The landscape of most urban centres is covered by cooperative owned buildings such as Harambee Plaza, Afya Centre, Hazina Towers, Kuscco Centre, Cooperative Bank House, Meru Mwalimu Plaza in Meru and Ndege Chai Plaza in Kericho.

Saccos in Kenya – Education Saccos

A quarter of the nearly Kshs200 billion goes towards financing education.

Indeed, cooperatives have provided successful models to encourage savings and access affordable credit to about 95 per cent of the 278,000 teachers employed by the TSC and an equal percentage in private learning institutions.

The movement has also invested in training institutions, such as the Cooperative College of Kenya.

Various cooperative societies have directly invested in institutions of higher learning, including Bartek College (Baringo Teachers Sacco), and South Imenti Sacco. Teachers Saccos are instrumental in raising living standards for the members and providing seed money for teachers to start businesses in housing, transport, agriculture and trade.

Saccos in Kenya

Saccos in Kenya

Best Saccos in Kenya

List of top 100 best Saccos in Kenya by membership and asset base

  1. Mwalimu national
  2. Harambee
  3. Stima
  4. Afya
  5. Kenya police
  6. United nations
  7. Ukulima
  8. Unaitas
  9. Imarisha
  10. Metropolitan
  11. Kenya bankers
  12. Gusii mwalimu
  13. Bandari
  14. Magereza
  15. Kakamega teachers
  16. Hazina
  17. Nyeri teachers
  18. Boresha
  19. Imari ka
  20. Sheria
  21. Bingwa
  22.  mentor
  23. Nacico
  24. Solution
  25. Cosmopolitan
  26. Tower
  27. Waumini
  28. Kitui teachers
  29. Masaku teachers
  30. Muhigia
  31. Ndege chai
  32. Mombasa port
  33. Winas
  34. Jamii
  35. Chuna
  36. Tharaka nithi teachers
  37. Capital
  38. Teleposta
  39. Asili cooperative
  40. Tai fa
  41. Yetu
  42. Safaricom
  43. Chai
  44. M u rata
  45. Kenya highlands
  46. Maisha bora
  47. Naku
  48. Kenpipe
  49. Moi university
  50. Egerton
  51. Laikipia teachers
  52. Fortune
  53. Ardhi
  54. Ng’arlsha
  55. Wanandege
  56. Shirika sacco
  57. Kenversity
  58. Sukari
  59. Wake nya pamoja
  60. Wareng teachers
  61. Tai
  62. Wanaanga
  63. Nawi ri
  64. Wanan chi
  65. Jitegemee
  66. Nassefu
  67. Tembo
  68. Nation
  69. Taita taveta teach ers
  70. Mwito
  71. Simba chai
  72. Ukristo na ufan isi
  73. Ke nya can n ers
  74. Kite
  75. Elimu
  76. Meru south farmers
  77. Marakwet teachers
  78. Kapenguria teachers
  79. Transnational
  80. Ufundi
  81. Nandi teachers
  82. Re li
  83. Comoco
  84. Mwen diwega
  85. Kwale teachers
  86. Fundilima
  87. Transcom
  88. Githunguri dairy
  89. Busia teso teachers
  90. Kingdom
  91. Orient
  92. Narok teachers
  93. Dai ma
  94. Biashara
  95. Mombasa teachers
  96. Keiyo teachers
  97. Universal traders
  98. Dimkes
  99. Mosacco
  100. Muki

List of Saccos in Kenya

  1. Africa Youth Trust Sacco
  2. Afya Sacco Society Ltd
  3. Asili Co-operative
  4. Balozi co-operative savings & credit society
  5. Balozi Sacco
  6. Biashara Community Sacco
  7. Biblia Sacco
  8. Bingwa Sacco
  9. Cabrosta Co-op savings & Credit Society Ltd
  10. Central Kenya Adventist Co-Op Savings $ Credit Society
  11. Chai Sacco
  12. Comoco Sacco
  13. Concode Sacco
  14. Cuew Co-op Savings & Credit Society Ltd
  15. Dhamini Co-op Savings & Credit Society Ltd
  16. East African Sacco
  17. Elimu Sacco
  18. Elyonabi Home & Office Furniture
  19. Freka Rental Sacco
  20. French Cultural & Co-operation Centre
  21. Gakurwe Sacco
  22. Githunguri Dairy Farmers Cooperative Society
  23. Githunguri Dairy Farmers Sacco
  24. Harambee Sacco
  25. Hazina Sacco
  26. Home Co-Operative & Credit Society Ltd
  27. Home Sacco
  28. Horticulture Cooperative Union Ltd (Kenya)
  29. International Federation Of Red Cross & Red Crescent Societies
  30. Jamii Sacco
  31. Jumbo Sacco
  32. Kamuthi Farmers Sacco
  33. Kanisa Co-Op Savings & Credit Society Ltd
  34. Kanisa Sacco
  35. Kencom Sacco
  36. Kenpipe Sacco Society
  37. Kentours Sacco
  38. Kenversity Sacco
  39. Kenya Bankers Sacco
  40. Kenya Rural Sacco
  41. Kenya Police Sacco
  42. Kiambu Unity Finance Co-operative Union
  43. Kiamumbi Farmers Sacco
  44. Kilimani Jua Kali Sacoo
  45. Kimisitu Sacco
  46. Kingdom Sacco
  47. Lompasago Co-op Sacco Ltd
  48. Lompasango savings and credit society
  49. Macobo Saving & Credit Society Ltd
  50. Magereza Co-Operative Savings & Credit Society Ltd
  51. Magereza Sacco
  52. Maisha Bora Sacco
  53. Mawasiliano Co-operative Sacco
  54. Mchope Sacco
  55. Mhasibu Sacco Society Ltd
  56. Microcat Autoparts & Accessories
  57. Mshamba Housing Co-Operative Society
  58. Mshamba Sacco
  59. Mwalimu Co-operative Savings Credit Society
  60. Mwalimu Sacco
  61. Mwito Sacco Society Ltd
  62. Naccico-op savings and credit society
  63. Nacico Sacco
  64. Nairobi Handicraft Industrial Co-op Society Ltd
  65. Naku Sacco Society
  66. Nassefu Sacco
  67. Nimepata Co-Operative Savings & Credit Society
  68. Nimepata Sacco
  69. Nyati Sacco
  70. P & T Employees Housing Sacco
  71. Romokia Housing Co-Operative
  72. Sauti Sacco
  73. Savings And Loan Ltd
  74. Sawa Co-operative Savings & Credit Society
  75. Sawa Sacco
  76. Sheria Sacco
  77. Shirika Sacco
  78. Shujaa Sacco Society
  79. Solid Investments Societies Ltd
  80. Stima Sacco
  81. St.Mary’s Transport Sacco
  82. Stone Bridge Multipurpose Sacco
  83. TelePost Sacco Society Ltd
  84. Tembo Sacco
  85. The Kenya Saving and Credit Co-op society
  86. Ufundi Co-Operative Sacco
  87. Ukulima Co-operative Sacco
  88. Unaitas Sacco Ltd – Kenya
  89. Uokoaji Savings and Credit Society Ltd
  90. Uzazi Bora Sacco
  91. Wanandege Sacco
  92. Waumini Sacco

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