Best SACCOs in Kenya

Are you looking up for the best Kenyan Sacco? Or, is it the best Kenya housing and Financial Saccos you need? Well, this article has all the information you need to know about Kenyan Saccos. Besides giving you the list of the most efficient, best saving Saccos in Kenya, this post will teach you how to register or join a Sacco in Kenya.

Full List of SACCO Societies in Kenya: SASRA Registration and Licensing, Membership, Online SACCOs, Diaspora- Everything You Need To Know!

So, you will also learn about SASRA- the Kenyan Sacco regulatory body. If you are a Kenyan citizen living abroad, don’t miss out on the Kenya Diaspora Saccos!

What is a SACCO?

Also known as credit Unions, SACCO societies offer services to people with a common bond. For instance, farmers in a region join hands to come up with an organization that can help them market their produce. Also, employees form groups with their colleagues to save and get loans.

It is like a circle- or merry go round. So, members pull resources together. For example, members buy Sacco shares and save their money there. Then, they borrow loans from the credit savings. The profits are shared among the members as per their share count.

In brief, a Sacco means a Savings and Credit Cooperative Society. According to the Kenya’s Sacco Societies Act, 2008, CAP 490, there are two types of Saccos- Deposit Taking and Non Deposit Taking Saccos. Of course, the members own the assets of the Sacco.

Why Saccos in Kenya are the best in Africa

Kenya has the best SACCOs in Africa. Of the top 10 most successful Saccos in Africa, 80% are from Kenya. So, Kenyan Saccos have a reputation in helping ordinary people access the market capital. Kenya’s SACCO societies are majorly based on housing, health and agriculture.

The transport industry has some of the most successful Sacco societies in Kenya. Yet, many offer small scale banking services as well. The government of Kenya has lucrative legislation to protect Saccos- thus; people find them better than mainstream financial institutions.

Most Successful SACCOS in Kenya: A Case Study of Rwathia Investors

The greatest Kenyan SACCO story is the Rwathia. A group of men from Rwathia village in Murang’a County decided to pull resources together in the early 60s’. The group became so powerful that they were able to buy lots of property from the British settlers who were leaving the country after independence.

Of course, they bought land and buildings at a low price because the whites were desperate to leave the new “African state”. By the 80’s, the Rwathia SACCO members were already in control of the Nairobi Capital City’s Business District (CBD- especially Starehe Constituency).

Today, Rwathia members are aged or deceased, and the SACCO isn’t as popular as it was a few decades ago. But, their investments are felt everywhere across the country. First, they literally own the capital city and most skyscrapers therein. Second, they were able to use their sales to buy shares in different companies. They’re some of the richest Kenyan businessmen!

How to Form a Sacco in Kenya

First, you need to get a brand name for your Sacco and then patent it at the Attorney General’s office. The Registrar of Societies has offices at the County Huduma Center Offices. Of course, you must have a membership united by a common connection. Then, with the help of a lawyer, you will need to come up with a constitution or Sacco Manifesto. The lawyer will help you make one under the Sacco Societies Act, 2008.

Then, the Sacco forms an administration board. The board vets a management team, which includes a CEO and other important executives. The employees ensure that the Sacco is run the right way. Every year, the SACCO holds an AGM or Annual Delegates Meeting to examine its progress. The AGM or ADM decides on important matters affecting them. This may include new board elections.

SASRA Sacco Societies Regulatory Authority of Kenya

The Sacco Societies Act, 2008 established the Sacco Societies Regulatory Authority of Kenya (SASRA). SASRA oversees and licenses SACCOs and FOSAs in the country. In most cases, SASRA regulates the formation and running of FOSAs by different Saccos in Kenya.

List of Licensed SACCOs in Kenya

If any Sacco wants to form a FOSA (Front Office Services and Activities), then they have to receive a get a permit from SASRA. Also, SASRA ensures that all Saccos meet the standards to guard the members’ interest.

In advance, the institution prevents SACCOs from failing-, which would otherwise result in members losing their shares and money. Again, you can report misconduct issues of any SACCO to SASRA.

When Ekeza SACCO started offering loans and other saving and credit activities outside Kiambu County, SASRA rushed in to stop them. The reasoning was simple- they weren’t following their constitution. Ekeza shared their offices with Gakuyo Real Estate and hadn’t held an AGM or ADM, and that was against the SACCO’s Act.

FOSA or SACCO?

If you want to understand Kenyan Saccos better, you may need to know about a FOSA too. Front Office Services Activities (FOSA) are the banking services offered by Saccos in Kenya.

Also, advanced Sacco FOSA has ATM, Cash Withdrawals and M-Banking services. Financial institutions such as Equity and Family banks started as FOSAs before they became the giant banks they are today.

SASRA controls the services offered by the SACCOs in their offices. This ensures they do not lend money or have it deposited without the right framework. In short, the regulatory body protects Kenyans from possible scams.

Now, let’s see the best Kenyan SACCO in various categories: diaspora, agriculture, real estate or employee-based.

Best Kenya Diaspora Saccos

Kenyan Diaspora Saccos are some of the fastest growing financial institutions in the country. There are two options to consider when looking for the best Diaspora Saccos for Kenyans living abroad.

By the end of 2012, money transfers were growing a high rate of 43%. So, the Kenyan government has been working to boost the growth of diaspora SACCO societies. In most cases, the Saccos help Kenyans living abroad to access and participate in opportunities available in East Africa. And, the two Kenyan Saccos for Diaspora are:

  1. Kenya USA Diaspora Sacco Limited- 2012, USA, Arlington, Virginia
  2. Kenya Diaspora Sacco

List of Kenya Matatu Saccos

2NK Sacco Society Limited- Nyeri

List of Housing Saccos in Kenya

  1. Ardhi Sacco Society Ltd
  2. Ekeza Sacco Society Ltd- Gakuyo Real Estate (now delisted)
  3. Diamond Trust Cooperative Sacco
  4. Cosmopolitan Sacco Society Ltd

Farmers SACCO Societies in Kenya

  1. Ukulima Sacco Society Ltd
  2. Ndege chai Sacco Society Ltd
  3. Chai Sacco Society Ltd
  4. Sukari Sacco Society Ltd
  5. Tembo Sacco Society Ltd
  6. Simba Chai Sacco Society Ltd
  7. Kenya Canners Sacco Society Ltd
  8. Githunguri Dairy Farmers Sacco Society Ltd

List of Kenyan Financial Saccos (with FOSA)

  1. Stima Sacco Society Ltd
  2. Afya Sacco Society Ltd
  3. Kenya police Sacco Society Ltd
  4. United nations Sacco Society Ltd
  5. Fortune Sacco Society Ltd
  6. Unaitas Sacco Society Ltd
  7. Imarisha Sacco Society Ltd
  8. Metropolitan Sacco Society Ltd
  9. Nation Sacco Society Ltd
  10. Ekeza Sacco Society Ltd (Delisted)
  11. Kenya Bankers Sacco Society Ltd
  12. Magereza Sacco Society Ltd
  13. Mombasa Port Sacco Society Ltd
  14. Ng’arlsha Sacco Society Ltd
  15. Mwito Sacco Society Ltd
  16. Wanandege Sacco Society Ltd
  17. Shirika Sacco Society Ltd
  18. Nasseffu Sacco Society Ltd
  19. Murata Sacco Society Ltd-  Now Amicus Savings Credit
  20. Hazina Sacco Society Ltd
  21. Sheria Sacco Society Ltd
  22. Wakenya Pamoja Sacco Society Ltd
  23. Bingwa Sacco Society Ltd
  24. Mentor Sacco Society Ltd
  25. Capital Sacco Society Ltd
  26. Teleposta Sacco Society Ltd
  27. Taifa Sacco Society Ltd
  28. Asili Cooperative Sacco Society Ltd
  29. Yetu Sacco Society Ltd
  30. Safaricom Sacco Society Ltd
  31. Tai Sacco Society Ltd
  32. Wanaanga Sacco Society Ltd
  33. Nawiri Sacco Society Ltd
  34. Wananchi Sacco Society Ltd
  35. Jitgemee Sacco Society Ltd
  36. Imarika Sacco Society Ltd
  37. MoSacco Society Ltd Sacco Society Ltd
  38. Universal Traders Sacco Society Ltd
  39. Muki Sacco Society Ltd
  40. Daima Sacco Society Ltd
  41. Orient Sacco Society Ltd
  42. Kingdom Sacco Society Ltd
  43. Mwendiwega Sacco Society Ltd
  44. Comoco Sacco Society Ltd
  45. Reli Sacco Society Ltd
  46. Transcom Sacco Society Ltd
  47. Biashara SACCO

Education Kenyan SACCOs

  1. Mwalimu National Sacco Society Ltd
  2. Gusii Mwalimu Sacco Society Ltd
  3. Kakamega teachers Sacco Society Ltd
  4. Nyeri teachers Sacco Society Ltd
  5. Boresha Sacco Society Ltd
  6. Kenversity Sacco Society Ltd
  7. Taita Taveta Teachers Sacco Society Ltd
  8. Elimu Sacco Society Ltd
  9. Kapenguria Teachers Sacco Society Ltd
  10. Nandi Teachers Sacco Society Ltd
  11. Marakwet Teachers Sacco Society Ltd
  12. Kitui teachers Sacco Society Ltd
  13. Masaku teachers Sacco Society Ltd
  14. Tharaka Nithi teachers Sacco Society Ltd
  15. Asili cooperative
  16. Moi university
  17. Laikipia teachers
  18. Egerton
  19. Wareng teachers
  20. Keiyo Teachers
  21. Mombasa Teachers
  22. Narok Teachers Sacco Society Ltd
  23. Busia Teso Teachers Sacco Society Ltd
  24. Kwale Teachers Sacco Society Ltd

Other Kenyan Saccos

  1. Harambee Sacco Society Ltd
  2. Bandari Sacco Society Ltd
  3. Muhigia Sacco Society Ltd
  4. Winas Sacco Society Ltd
  5. Kenpipe Sacco Society Ltd
  6. Jamii Sacco Society Ltd
  7. Nacico Sacco Society Ltd
  8. Chuna Sacco Society Ltd
  9. Naku Sacco Society Ltd
  10. Kenya highlands
  11. Maisha Bora Sacco Society Ltd
  12. Solution Sacco Society Ltd
  13. Cosmopolitan Sacco Society Ltd
  14. Tower Sacco Society Ltd
  15. Waumini Sacco Society Ltd
  16. Wanandege Sacco Society Ltd
  17. Uzazi Bora Sacco Society Ltd
  18. Uokoaji Savings and Credit Society Ltd
  19. Ukulima Co-operative Sacco
  20. Ufundi Co-Operative Sacco
  21. The Kenya Saving and Credit Co-op society
  22. St. Mary’s Transport Sacco Society Ltd
  23. Tembo Sacco Society Ltd
  24. TelePost Sacco Society Ltd
  25. Stima Sacco Society Ltd
  26. Stone Bridge Multipurpose Sacco Society Ltd
  27. Solid Investments Societies Ltd Sacco
  28. Sawa Sacco Society Ltd
  29. Shujaa Sacco Society
  30. Sheria Sacco Society Ltd
  31. Sawa Co-operative Savings & Credit Society Sacco
  32. Shirika Sacco Society Ltd
  33. Savings And Loan Ltd Sacco
  34. Sauti Sacco Society Ltd
  35. Nyati Sacco Society Ltd
  36. Romokia Housing Co-Operative Sacco
  37. Nimepata Sacco Society Ltd
  38. P & T Employees Housing Sacco Society Ltd
  39. Nimepata Co-Operative Savings & Credit Society Sacco
  40. Naku Sacco Society
  41. Nassefu Sacco Society Ltd
  42. Nairobi Handicraft Industrial Co-op Society Ltd Sacco
  43. Naccico-op savings and credit society Sacco
  44. Nacico Sacco Society Ltd
  45. Mwalimu Co-operative Savings Credit Society Sacco
  46. Mwito Sacco Society Ltd
  47. Mwalimu Sacco Society Ltd
  48. Mwalimu Co-operative Savings Credit Society Sacco
  49. Mshamba Sacco Society Ltd
  50. Mshamba Housing Co-Operative Society Sacco
  51. Mhasibu Sacco Society Ltd
  52. Mchope Sacco Society Ltd
  53. Microcat Autoparts & Accessories Sacco Society Ltd
  54. Magereza Sacco Society Ltd
  55. Mawasiliano Co-operative Sacco Society Ltd
  56. Maisha Bora Sacco Society Ltd
  57. Magereza Co-Operative Savings & Credit Society Ltd Sacco
  58. Lompasango savings and credit society Sacco
  59. Lompasago Co-op Sacco Ltd
  60. Kilimani Jua Kali Sacco Society Ltd
  61. Banana Hill Sacco Society Ltd
  62. Transnational Times Sacco Society Ltd
  63. Nitunze Sacco Society Ltd
  64. Nandi Hekima Sacco Society Ltd
  65. Telepost Sacco Society Ltd
  66. Eco-Pillar Sacco Society Ltd
  67. Yetu Sacco Society Ltd
  68. Wevarsity Sacco Society Ltd
  69. Washa Sacco Society Ltd
  70. Tenhos Sacco Society Ltd
  71. Taraji Sacco Society Ltd
  72. Supa Sacco Society Ltd
  73. Suba Teachers Sacco Society Ltd
  74. Sotico Sacco Society Ltd
  75. Qwetu Sacco Society Ltd
  76. Puan Sacco Society Ltd
  77. Patnas Sacco Society Ltd
  78. Orient Sacco Society Ltd
  79. Nyambene Arimi Sacco Society Ltd
  80. Nyala Vision Sacco Society Ltd
  81. Mudete Tea Growers Sacco Society Ltd
  82. Magadi Sacco Society Ltd
  83. Kmfri Sacco Society Ltd
  84. Kipsigis Edis Sacco Society Ltd
  85. Jacaranda Sacco Society Ltd
  86. Baraton University Sacco Society Ltd
  87. Agro-Chem Sacco Society Ltd
  88. Kingdom Sacco Society Ltd
  89. Kimisitu Sacco Society Ltd
  90. Macobo Saving & Credit Society Ltd Sacco
  91. Kiamumbi Farmers Sacco Society Ltd
  92. Kenya Police Sacco Society Ltd
  93. Kiambu Unity Finance Co-operative Union Sacco
  94. Kenya Rural Sacco Society Ltd
  95. Kanisa Sacco Society Ltd
  96. Kamuthi Farmers Sacco Society Ltd
  97. Jumbo Sacco Society Ltd
  98. International Federation Of Red Cross & Red Crescent Societies Sacco
  99. Home Co-Operative & Credit Society Ltd Sacco
  100. Horticulture Cooperative Union Ltd (Kenya) Sacco
  1. Home Sacco Society Ltd
  2. Dhamini Co-op Savings & Credit Society Ltd Sacco
  3. Freka Rental Sacco Society Ltd
  4. French Cultural & Co-operation Centre Sacco
  5. East African Sacco Society Ltd
  6. Hazina Sacco Society Ltd
  7. Concode Sacco Society Ltd
  8. Central Kenya Adventist Co-Op Savings $ Credit Society Sacco
  9. Cuew Co-op Savings & Credit Society Ltd Sacco
  10. Harambee Sacco Society Ltd
  11. Elyonabi Home & Office Furniture Sacco Society Ltd
  12. Githunguri Dairy Farmers Cooperative Society Sacco Society Ltd
  13. Gakurwe Sacco Society Ltd
  14. Africa Youth Trust Sacco Society Ltd

In conclusion, the list of the best Saccos in Kenya is thorough- but; it only includes those registered by SASRA. The SACCO Societies Regulatory Authority (SASRA) oversees, regulates and licenses Kenyan Saccos and societies. So, if you want to check if your Sacco is in line with the law, visit the SASRA website. Also, it is time you register for a Kenya Diaspora Sacco so that you can start trading at home. All the best!

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