Regulated Savings and Credit Co-operative Organisations (SACCOs) continue to play a transformative role in improving livelihoods across Kenya, disbursing more than Ksh. 500 billion in credit to members in 2024, strengthening household welfare and economic empowerment at the grassroots level.
Out of this lending, approximately 25 per cent was channelled towards land acquisition and housing, enabling members to invest in property ownership and improved living conditions, while more than 20 per cent went into education financing, supporting school fees and higher education access for thousands of families across the country.
The sector’s strong performance reflects the growing importance of SACCOs as affordable financial intermediaries for millions of Kenyans who remain underserved by commercial banks, particularly in rural and peri-urban areas.
The momentum in the cooperative sector was further highlighted during the launch of Shirikiana SACCO at Masinde Muliro University of Science and Technology in Kakamega County, an event presided over by President William Ruto and attended by senior government officials, including Cabinet Secretary for Co-operatives and MSMEs Wycliffe Oparanya.
During the launch, President Ruto underscored the importance of SACCOs in driving financial inclusion and household development.
“I’ll be a member today and I will put my money and because the Sacco is important, I agreed with CS Oparanya that I will look for Ksh50 million and put it in the Sacco so that we can start with it,” President William Ruto noted.
The President also emphasized the broader social role of SACCOs in improving livelihoods, noting that they help families access healthcare, educate their children and manage financial challenges more effectively. He further described Kenya’s cooperative movement as the strongest in Africa, highlighting its role in mobilising savings and expanding access to credit at the community level.
Cabinet Secretary for Cooperatives, Wycliffe Oparanya also reinforced the government’s commitment to strengthening the cooperative sector, stating that Shirikiana SACCO is designed to unlock economic potential among farmers, entrepreneurs and professionals through improved access to affordable credit.
He noted that with coffee as an anchor value chain, the SACCO would enhance industrialisation, agricultural productivity, MSME growth and job creation, particularly in Western Kenya.
“Shirikiana SACCO is designed to unlock the immense economic potential of farmers, entrepreneurs, professionals, and other productive sectors across the Western region,” CS Wycliffe Oparanya stated.
The CS further emphasized that the cooperative model remains central to Kenya’s development strategy, particularly in empowering grassroots communities through collective savings and investment.
The launch of Shirikiana SACCO is part of a broader government push to deepen financial inclusion under the Bottom-Up Economic Transformation Agenda, with SACCOs increasingly positioned as key vehicles for delivering affordable credit and mobilising local capital.
President Ruto also praised reforms in the cooperative sector, noting the expansion of financial inclusion programmes and the growth of national credit access initiatives such as the Hustler Fund.
He further observed that Kenya’s SACCO movement remains one of the most advanced globally, with the sector now managing trillions in assets and serving millions of members nationwide.
Beyond the political and financial significance, Shirikiana SACCO has been positioned as a grassroots economic empowerment tool targeting farmers, traders, boda boda operators, youth and small-scale entrepreneurs.
The SACCO already reports strong early membership numbers, drawing participants from Kakamega, Bungoma, Vihiga, Busia, and Trans Nzoia counties, with projections indicating rapid expansion in the coming years.
With continued regulatory oversight from the SACCO Societies Regulatory Authority (SASRA), improved governance structures and increasing digital adoption, SACCOs are expected to further deepen financial inclusion and strengthen household resilience across the country.
Author: Moureen Koech
Moureen Koech is a passionate Digital Journalist, an adept Agribusiness Writer with a keen eye for news and an impactful story-teller,whose stories provide key value to Agripreneurs and stakeholders in the Agricultural sector
