Kenya’s sacco sector continues to grow steadily, reflecting increased financial trust and savings culture among members.
According to the State Department for Cooperatives, member deposits hit Sh1.13 trillion in 2023/24, marking a consistent rise over five years.
In 2019/20, savings stood at Sh802 billion, and have grown each year—Sh846 billion in 2020/21, Sh906 billion in 2021/22, and Sh1.047 trillion in 2022/23—culminating in the current all-time high.
This upward trend underscores the crucial role saccos play in financial inclusion and empowerment, especially among low- and middle-income Kenyans.
With access to credit and savings opportunities, saccos remain pillars of economic resilience.
The continued rise in deposits also reflects public confidence in the cooperative movement, highlighting its contribution to national development and household financial stability.
