SACCO savings top Sh1 trillion as government pushes reforms

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Deputy President Kithure Kindiki and Cabinet Secretary for Co-operatives and Micro, Small and Medium Enterprises Development Wycliffe Oparanya interact with attendees during the 104th International Day of Cooperatives (Ushirika Day) celebrations in Nairobi. [David Gichuru, Standard]

Kenya's savings and credit cooperative societies (SACCOs) now hold more than Sh1 trillion in member savings as the government steps up reforms to strengthen governance, financial resilience and technology across the cooperative movement.

Deputy President Kithure Kindiki announced the milestone during the 104th International Day of Cooperatives (Ushirika Day) celebrations in Nairobi, saying the cooperative sector has become one of the country's strongest drivers of financial inclusion and enterprise development.

“The Government is implementing reforms to build transparent, professionally managed, financially resilient and technology-driven cooperative institutions that will deliver even greater value to their members,” said Kindiki.