Top Saccos in Kenya in 2020

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Savings and Credit Cooperative Organizations are created, owned, and governed by individuals who have a common bond. For example, they may be working for the same organization, they belong to the same church, or they are living in the same community.

They come together and agree to pool and save their money together and offer loans to one another at reasonable rates of interest. In Kenya, the Sacco Societies Regulatory Authority (SASRA) is the regulatory body responsible for regulating deposit taking Saccos.

This article is going to list the top SACCOs in Kenya, and what they have to offer for their members.

In alphabetical order:

  1. Afya Sacco Society Ltd
  2. Agro-Chem Sacco Society Ltd
  3. Airports Sacco Society Ltd
  4. Ardhi Sacco Society Ltd
  5. Bandari Sacco Society Ltd
  6. Baraka Sacco Society Ltd
  7. Biashara Sacco Society Ltd
  8. Capital Sacco Society Ltd
  9. Chai Sacco Society Ltd
  10. Chuna Sacco Society Ltd
  11. Cosmopolitan Sacco Society Ltd
  12. Enea Sacco Society Ltd
  13. Fariji Sacco Society Ltd
  14. Fundilima Sacco Society Ltd
  15. GDC Sacco Society Ltd
  16. Jamii Sacco Society Ltd
  17. Kenya Highlands Sacco Society Ltd
  18. Kingdom Sacco Society Ltd
  19. K-Unity Sacco Society Ltd
  20. KMFRI Sacco Society Ltd
  21. Maisha Bora Sacco Society Ltd
  22. Metropolitan National Sacco Society Ltd
  23. Mombasa Port Sacco Society Ltd
  24. Nyambene Arimi Sacco Society Ltd
  25. Sheria Sacco Society Ltd
  26. Shirika Sacco Society Ltd 
  27. Trans-National Times Sacco Society Ltd
  28. Taqwa Sacco Society Ltd
  29. Ufanisi Sacco Society Ltd
  30. Wananchi Sacco

Top 10 Saccos in Kenya with high dividend income

1) Stima Sacco Society Ltd

This Sacco is a licensed deposit-taking Sacco and was started in 1974 to uplift its members’ social-economic well-being. 

In April 2003, it introduced the Front Office Service Activity (FOSA) and began offering banking services to its members. 

The Sacco has nine branches spread in Nairobi (Parklands), Mombasa, Kisumu, Nakuru, Olkaria, Eldoret, Nairobi CBD, Embu, and Kawi Centre (South C).

For the financial year ended 2019, shareholders got Sh2.3 billion payout in dividends and interests on deposits. It made the first and final dividend of 14 percent per share.

2) Harambee Sacco Society Ltd

This Sacco has about 80000 members with 174 branches spread across the country. It draws its membership mainly from civil servants. They include staff from National Police Service, the Kenya Defence Forces, National Youth Service, government parastatals and departments, national and county governments, and constitutional bodies.

For the financial year 2019, they made a payout of Sh1.34billion making a payment of 6.5 percent of share capital as a dividend.

3) Kenya Police Sacco Society Ltd

This Sacco was registered on 20th November 1972 and began operations in 1973.

The Sacco has 63,450 members drawn from the police service and administration police.

Financial year ended 2018, members received a 17 percent dividend on share capital or Sh284.5 million, and a further 10.5 percent interest on deposits amounting to Sh1.68 billion.

4) Nation Sacco Society Ltd

Nation Staff Sacco was registered on September 15th, 1975 and started by serving the Nation staff. In 2012, it rebranded to Nation Sacco and opened membership to all eligible members of the public.

For the financial year ended 2017, Nation Sacco paid members’ deposits at nine percent; with the payout on members’ shares flat at 15 percent. 

5) Safaricom Sacco Society Ltd

Safaricom Sacco Ltd began operations in May 2001 with an initial membership of 222 members who were Safaricom staff.

In 2011, it revised its by-laws to open the common bond to include employees from related technology companies, Safaricom Partners, diaspora, individuals introduced by Sacco members, chama’s, spouses of members, and their children above 18 years.

Today its membership is more than 13,000 members with an asset base of 5.6 billion.

In its AGM 29th 2019, it paid a dividend on share capital at 12% (Kes.57,769,072) to all the members who had met the statutory minimum shares of Kes. 40,000.

It also passed to pay interest on weighted deposits at a rate of 7.5% (Kes.315,163,836).

6) Kenya Bankers Sacco Society Ltd

The Sacco was registered on 14th February 1975 as a Savings & Credit Co-operative Society.

It initially started by serving employees in the banking industry. However, today it draws membership from people of different vocations.

Its products include express loans, development loans, super loans, education loans, smart life loans, M-loans, micro-loans, Karibu loan, boresha maisha, and afya imara loan.

7) 2NK Sacco Society Ltd

2NK is a transport based Sacco and has its headquarters in Nyeri town. 

The SACCO has gained popularity for its efficient transport services. Some of the services it offers its members include individual loan, emergency loans, business loans, education loan, asset finance, salary advance, group loans, insurance premium finance, fixed deposit account, group accounts, individual account, and 2NK little angels savings account.

8) Metropolitan National Sacco

This Sacco was started in 1977 and is a deposit-taking Sacco licensed and regulated by the SACCO Societies Regulatory Authority (SASRA).

It is ranked as the 6th largest Sacco in asset base nationally with an asset base of 14.8 billion.

It draws its membership of over 1000,000 with members drawn from Teachers Service Commission (TSC), Government Ministries, Kenya Defence Forces (KDF), National Police Service, Parastatals, Public and Private Universities, Colleges, Academies, and the private sector.

9) Nacico Sacco Society Ltd

NACICO Sacco was established in 1975 and its main activities are mobilizing its members’ savings and investing in profitable activities, providing credit services, and management of NACICO Plaza.

Its services to members include asset finance, group shares account, business loans, jipange account, salary advance, college loan, retirees account, development loan, jisort loan, and bank loan.

10) Elimu Sacco Society Ltd

Elimu Sacco was started in 1972 by employees from the Ministry of Education. The Sacco is run by a Board of Directors of 9 members, and overseen by a supervisory committee who reports to the annual delegates meeting.

Today its membership is drawn from the ministry of education and TSC employees, employees of government ministries and parastatals, employees of educational institutions, NGO employees, and self employees.


About Author

Anthony Kiratu is the Founder of Finsolutions. He is a financial analyst with over 5 years experience in research, investment advisory, valuation and financial modelling. Anthony is a member of the Institute of Certified Investment and Financial Analysts and Institute of Certified Public Accountants of Kenya. He is passionate about development of African Capital Markets through training of investors and dissemination of information for sound financial and investment decision making process. He is also a part-time lecturer in the Certified Investment and Financial Analyst course in the subjects of International Finance, Portfolio Management, Equity Investment Analysis, and Fixed Income Securities. Email: Contact: +254 780216631

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