List Of 20 Richest SACCOS In Kenya Based On Total Assets and Income
- SASRA has raised concerns about the financial stability of many SACCOs in Kenya, highlighting a significant concentration of assets among a few regulated SACCOs
- SASRA noted that SACCOs with assets below KSh 1 billion struggle to compete in the competitive deposit-taking and credit business sector
- The authority recommended that smaller SACCOs explore mergers and amalgamations to achieve economies of scale and enhance competitiveness
- The report listed the largest deposit-taking SACCOs, with Mwalimu National leading with total assets of KSh 66.43 billion, followed by Stima DT and Kenya National Police DT
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Elijah Ntongai, a journalist at TUKO.co.ke, has more than three years of financial, business, and technology research expertise, providing insights into Kenyan and global trends.
The Sacco Societies Regulatory Authority (SASRA) has expressed concerns over the financial stability of many SACCOs in Kenya.
In the recently released SACCOs annual supervision report for 2023, SASRA noted that despite recording respectable growth rates over the reporting period, there are concerns over the increased concentration of the SACCO industry’s assets and deposits among just a few of the Regulated SACCOs.
"This is evidenced by the fact that 73.34% of the total assets of the SACCO industry is controlled by 53-Regulated SACCOs, with the remaining 304-Regulated SACCOs sharing the balance of just 26.66% of the total assets," SASRA noted in the report.
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The authority said that the majority of SACCOs which have assets below KSh 1 billion may be too small to compete in the highly competitive domestic deposit-taking and credit business space.
SASRA, therefore, recommended that the small individual SACCOs start exploring amalgamation and mergers as strategic business decisions in order to reap the benefits associated with economies of scale and improve their competitiveness in the marketplace.
15 richest SACCOs in Kenya
The largest DT SACCOs in Kenya based on total asset value are shown in the table below:
| SACCO | Total Assets (KSh) | Income 2023 (KSh) | Income 2022 (KSh) | |
| 1. | Mwalimu National | 66.43 billion | 8.38 billion | 7.74 billion |
| 2. | Stima DT | 59.15 billion | 8.95 billion | 8.55 billion |
| 3. | Kenya National Police DT | 54.24 billion | 8.86 billion | 7.94 billion |
| 4. | Harambee | 38.57 billion | 5.66 billion | 5.49 billion |
| 5. | Tower | 23.23 billion | 3.49 billion | 2.86 billion |
| 6. | Afya | 22.79 billion | 3.62 billion | 2.79 billion |
| 7. | Unitas | 22.70 billion | 3.54 billion | 3.27 billion |
| 8. | Imarisha | 21.78 billion | 3.74 billion | 3.32 billion |
| 9. | United Nations DT | 18.21 billion | 3.73 billion | 3.44 billion |
| 10. | Ukulima | 15.18 billion | 2.02 billion | 1.91 billion |
| 11. | Hazina | 14.10 billion | 1.77 billion | 1.51 billion |
| 12. | Gusii Mwalimu | 14.30 billion | 2.32 billion | 2.10 billion |
| 13. | Invest and Grow | 14.06 billion | 1.88 billion | 1.76 billion |
| 14. | Mentor | 13.74 billion | 1.83 billion | 1.54 billion |
| 15. | Imarika | 13.11 billion | 1.96 billion | 1.80 billion |
| 16. | Bandari DT | 13.58 billion | 1.90 billion | 1.57 billion |
| 17. | Transnation | 12.02 billion | 2.09 billion | 0.74 billion |
| 18. | Safaricom | 11.42 billion | 1.26 billion | 1.90 billion |
| 19. | Boresha | 11.35 billion | 1.63 billion | 1.42 billion |
| 20. | Winas | 11.28 billion | 1.91 billion | 1.74 billion |
Other stories on SACCOs in Kenya
- List of counties with the highest number of SACCOs in Kenya.
- SACCOs whose deposit-taking business licenses were revoked by the government.
- Parents borrow KSh 96.3 billion for school fees from SACCOs.
Proofreading by Otukho Jackson, a multimedia journalist and copy editor at TUKO.co.ke
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