Richest Saccos In Kenya According To SASRA [LIST]

CS Oparanya during the launch highlighted that the total membership among the 357-Regulated SACCOs increased by 6.57% to 6.84 million in 2023.

The Sacco Societies Regulatory Authority (SASRA) has revealed the biggest Savings and Credit Cooperative Organizations (SACCOs) in Kenya in terms of assets.

SASRA on Wednesday, September 12, launched the 2023 Sacco Supervision Annual Report in an event graced by Ministry of Cooperatives & MSMEs Cabinet Secretary (CS) Wycliffe Oparanya.

In 2023, Kenya’s SACCOs demonstrated robust financial health, with several top-tier SACCOs showing significant growth in assets, reflecting a growing trust and reliance in these member-owned financial institutions.

The Authority revealed that regulated saccos now command Ksh971 billion in total assets, Ksh682 billion deposits and Ksh758 billion loans.

“Looking at the 2023 Annual SACCO Supervision Report, I am happy to report that the SACCO industry has continued to grow, despite operating under very difficult economic conditions and several policy and market limitations,” said CS Oparanya.

SASRA’s data also reveals corresponding figures for total deposits, gross loans, and total income, indicating growth or shifts in these financial metrics across most SACCOs.

The increase in assets across the board was accompanied by a rise in total deposits and loan disbursements, indicating a healthy cycle of saving and borrowing among members.

Richest Saccos In Kenya According To Sasra [List] — SASRA Board of Directors Chairman Jack Ranguma. PHOTO/SASRA KE X

For instance, Tower, Unaitas, and Imarisha witnessed consistent growth in both deposits and loans, which translates into enhanced capabilities to support members’ financial needs from housing to business capital.

However, the growth trajectory was not uniform with SACCOs such as Kitui Teachers recording a slight dip in assets.

Richest SACCOs in Kenya

Leading the charge is Mwalimu National which showcased an impressive growth in assets from Ksh54.06 billion in 2022 to Ksh66.43 billion in 2023, making it the largest SACCO in the country in terms of asset size.

Also Read: Oparanya Outlines Ways of Saving Kenyans from SACCOs Collapsing with Their Cash

Following closely are Stima DT and Kenya National Police DT that have also reported substantial asset growth, underscoring their critical role in providing financial services to their niche sectors.

Specifically, Stima DT’s assets grew to Ksh59.15 billion from Ksh53.78 billion, while the Kenya National Police DT grew from Ksh48.98 billion to Ksh54.24 billion.

Other notable SACCOs include Harambee with assets of Ksh38.57 billion in 2023 and Tower with Ksh23.23 billion.

Harambee’s Ksh38.57 billion assets rose from Ksh37.01 billion with an income increase from Ksh4.79 billion to Ksh5.46 billion, while Tower Sacco whose assets grew modestly from Ksh19.57 billion recorded an income rise of Ksh3.49 billion from Ksh2.86 billion.

Among the notable risers is Afya, a SACCO catering primarily to the healthcare sector, which more than doubled its asset base from Ksh10.94 billion in 2022 to Ksh22.79 billion in 2023, showing a significant boost in income from Ksh2.79 billion to Ksh4.62 billion.

Other SACCO Assets

Unaitas assets rose from Ksh20.40 billion to Ksh22.70 billion, with income moving from Ksh3.27 billion to Ksh3.54 billion.

Imarisha recorded a growth in assets from Ksh19.82 billion to Ksh21.78 billion, and an income increase from Ksh3.32 billion to Ksh3.74 billion.

Also Read: Uproar as 100,000 Sacco Members Lose Ksh15 Billion

United Nations DT had assets rising from Ksh16.70 billion to Ksh18.21 billion, with an income growth from Ksh1.94 billion to Ksh2.33 billion.

Ukulima saw its asset size grow from Ksh14.66 billion to Ksh15.18 billion, with a moderate rise in income from Ksh1.91 billion to Ksh2.02 billion.

As per the report, Hazina’s assets grew from Ksh12.76 billion to Ksh14.70 billion, alongside an income increase from Ksh1.50 billion to Ksh1.77 billion.

Gusii Mwalimu reported a slight growth in assets from Ksh12.85 billion to Ksh14.30 billion, with an income increase from Ksh2.10 billion to Ksh2.32 billion.

Invest and Grow’s assets were up from Ksh12.96 billion to Ksh14.06 billion, with a minor rise in income from Ksh1.76 billion to Ksh1.88 billion.

Mentor’s assets increased from Ksh11.77 billion to Ksh13.47 billion, and income rose from Ksh1.54 billion to Ksh1.83 billion.

On the other hand, Imarika had assets grow from Ksh11.67 billion to Ksh13.11 billion, with income increasing from Ksh1.50 billion to Ksh1.96 billion.

CS Oparanya during the launch highlighted that the total membership among the 357-Regulated SACCOs increased by 6.57% to 6.84 million in 2023 from 6.42 million reported in 2022.

In addition, the CS revealed that the loan portfolio by the Regulated SACCOs in 2023 increased by 11.50% to reach Ksh758 billion, a marginal decline from 11.67% recorded in 2022.

List of Richest SACCOs in 2023

Name of SACCO	Total Assets in 2023	Total Deposits in 2023	Total Income in 2023
Mwalimu National	Ksh66 B	Ksh49 B	Ksh8.38 B
Stima DT	Ksh59 B	Ksh43 B	Ksh8.95 B
Kenya National Police DT	Ksh54 B	Ksh31 B	Ksh8.86 B
Harambee	Ksh38 B	Ksh24 B	Ksh5.46 B
Tower	Ksh23 B	Ksh17 B	Ksh3.49 B