This archive report was first published on 20 December 2019.
According to a report published on December 20, 2019, government-based deposit-taking SACCOs hold a significant share of assets and deposits in Kenya's SACCO sub-sector. These SACCOs, which primarily serve government ministries, state agencies, corporations, and county governments, controlled 37.67 percent of the industry's entire balance sheet of Sh 495.25 billion in 2018.
With a total of 35 SACCOs and assets worth Sh 186.57 billion, government-based SACCOs also held 38.37 percent of all deposits held by the sub-sector. This is a significant proportion, considering that these SACCOs constitute only 20.11 percent of all deposit-taking SACCOs in Kenya.
Stima Sacco, with assets worth Sh 32.3 billion, is one of the largest government-based SACCOs, followed by Kenya Police with Sh 28.9 billion and Harambee Sacco with Sh 26.3 billion. Mwalimu National SACCO has the largest balance sheet size worth Sh 45.2 billion.
“The government and its agencies are the critical most important singular employer that drives the deposit-taking SACCO segment in Kenya,” said John Mwaka, Chief Executive Officer, Sacco Societies Regulatory Authority.
