Under the theme – ‘ Co-operatives Build a Better World’ – the UN General Assembly in June 2024 declared 2025 the International Year of Co-operatives. By so doing, this assembly recognized the pivotal role that is played by the co-operative movement globally in advancing the UN Sustainable Development Goals (SDGs).
Anchored on seven key principles, the co-operative movement is unified across the world. This movement has over the years transformed the lives of millions of households worldwide by helping them to access affordable finance, aggregate and market their farm produce hence enjoying economies of scale and to pool their resources in a bid to advance various economic goals. In a nutshell, co-operatives are very effective vehicles in the advancement of sustainable development.
It is against this solid background that the Sacco Societies Regulatory Authority ( SASRA) recently released the Sacco Supervision Annual Report 2024. This is the annual statutory report on the operations and performance of the regulated Saccos in Kenya. Going by this report, in the last ten years, regulated Saccos have grown in leaps and bounds in all key parameters. They have for instance significantly grown in membership and profitability. Most importantly, they have enhanced financial inclusion by embracing digitalization and extending their services to members in far flung areas.
Total income
The report also indicates Stima DT Sacco generated the highest total income ( Kshs. 10.26 billion) in 2024. Second was Kenya National Police DT Sacco, with Kshs. 9.32 billion, while Mwalimu National DT was third having generated a total income of Kshs. 9.32 billion. Harambee DT and Tower Sacco took the fourth and fifth positions with total income of Kshs. 7.11 billion and Kshs. 4.33 billion respectively. Below is a table of the top fifteen regulated Saccos with the highest total income in 2024:
| RANKING- 2024 | NAME OF DT-SACCO SOCIETY | TOTAL INCOME FY 2024 (KSHS. BILLIONS) |
| 1. | STIMA DT | 10.26 |
| 2. | KENYA NATIONAL POLICE DT | 9.95 |
| 3. | MWALIMU NATIONAL DT | 9.32 |
| 4. | HARAMBEE DT | 7.11 |
| 5. | TOWER | 4.33 |
| 6. | IMARISHA | 4.17 |
| 7. | UNAITAS | 4.14 |
| 8. | AFYA | 2.62 |
| 9. | GUSII MWALIMU | 2.61 |
| 10. | TRANS NATION DT | 2.57 |
| 11. | UNITED NATIONS | 2.50 |
| 12. | WINAS | 2.48 |
| 13. | IMARIKA | 2.27 |
| 14. | MENTOR | 2.16 |
| 15. | BANDARI DT | 2.11 |
SOURCE : THE SACCO SUPERVISON ANNUAL REPORT, 2024
By offering credit to their members at very competitive terms, Saccos have helped them to engage in profitable economic activities like agribusiness, real estate development and trade. By the same token, many members have been able to educate their families using friendly loan products offered to them by Saccos. Additionally, the fact that members own shares in their respective Saccos has made these financial institutions very attractive investment vehicles. Annually, members earn dividends from their share capital as well as interest from their non-withdrawable deposits.
In essence, Saccos (unlike other financial institutions in the marketplace) are not driven by profit maximization, but by the need to improve the socio-economic welfare of their members. By and large then, Saccos in Kenya are building a better world for their members in line with the theme of the 2025 International Year of Co-operatives.
