This archive report was first published on 13 July 2019.
On July 13, 2019, Co-operative Bank announced a deal to support Metropolitan Sacco, which had been struggling with liquidity issues.
The bank, led by Director for Co-operatives Banking Division Vincent Marangu, will provide working capital to ensure the Sacco can deliver adequate services to its members.
Co-op Bank will also offer advisory services through its subsidiary, Co-op Consultancy, to help Metropolitan Sacco build capacity for long-term sustainability.
Metropolitan Sacco, with assets worth Sh13.6 billion and eight branches across the country, had been facing liquidity issues due to soaring bad loans and high member loan demands.
The Sacco's chairman, Christopher Karanja, expressed gratitude to Co-operative Bank for its support, stating that the corporate restructure was the best thing to happen to the Sacco in a long time.
