Kenya's SACCO sector has experienced tremendous development over time, with some SACCOs having asset bases greater than some Commercial Banks in Kenya. The shift from operating only back-office service activities (BOSA) to front-office service activities (FOSA) has seen SACCOs mobilise more savings. The changed regulatory framework for SACCOs in Kenya has also created more confidence in the sector and this has contributed positively towards a boom in the sector. Assets has grown in asset base and have disbursed billions of shillings in loans. Focusing on the larger SACCOs operating FOSA as of 2013, the 212
SACCOs had a total asset base of Khs. 258 billion (US$ 26 billion). This is considering that 3 SACCOswere not included in this analysis. If we were to take 60% of this as loan portfolio, the 212 SACCOs would have Kshs. 155 billion (US$ 1.5 billion) held as loans to members. This is a tremendous number by any means for a SACCO in a developing country like Kenya. Interestingly, the 181 licensed SACCOs as of 2013 had mobilised total assets of up to Kshs. 255 billion (US$ 2.5 billion), which is virtually 99% of the combined asset base for the 212 SACCOs. The Kenyan government has been supportive and keen on encouraging the remaining 34 SACCO obtain licenses. To date (2016), these SACCOs have dropped to 30.
According to the rankings below, the top 105 SACCOs in terms of asset base are all LICENSED. This communicates something: that regulations may have played a key role in creating confidence in the public and building a trusted platform where citizens can entrust their hard earned funds in. For SACCOs to mobilise such an amount in assets, they must have lent out more from their deposits among other sources. Another possibility would be more SACCO members taking up more loans, which is a sign that SACCOs may be doing better than commercial banks as far as loan uptake is concerned. This is perhaps due to the relatively lower interest rate charged by SACCOs on loans which has been at an average of 13% per annum, compared to that of commercial banks at 18% per annum of even higher.
Most of the SACCOs ranked lowest are not yet licensed. This is because they are yet to meet the regulatory requirements especially the minimum capital base of Kshs. 10 million (US$ 99,000). This could be the main hinderance for their growth to the likes of Mwalimu National of Unaitas. However, it is notable that some of these SACCOs have a worryingly low asset base e.g. the case of Nyabiera SACCO whose asset base is a meager Kshs. 742,655 (US$ 7,353.02) as of 2013. As I present this very first edition of Kenya's SACCO rankings, I am optimistic that the SACCO sector in Kenya will continue to grow and help Kenyan citizens improve their economic and social welfare drastically. That withstanding, caution goes to the SACCOs themselves not to forget the social bond that gave rise to what they are today. In as much as they pursue growth, efficiency and profitability, they should not forget their social cause! That social bond needs to be protected, and this is a real challenge to the regulator, SASRA and the Ministry in charge of cooperatives to ensure that this cultural heritage is strictly maintained.
No.
|
Code
|
Name of the SACCO
|
2013 total assets (Kshs)
|
Year Licensed
|
1
|
2265
|
Mwalimu National
|
24,540,360,722
|
2010
|
2
|
1916
|
Harambee
|
17,633,141,570
|
2010
|
3
|
2207
|
Stima
|
12,401,789,000
|
2010
|
4
|
1981
|
Afya
|
11,885,165,365
|
2010
|
5
|
2092
|
Kenya Police
|
11,522,841,000
|
2010
|
6
|
2375
|
United Nations
|
7,569,117,689
|
2010
|
7
|
2026
|
Ukulima
|
7,321,315,579
|
2011
|
8
|
6760
|
Unaitas
|
5,550,898,016
|
2010
|
9
|
2885
|
Imarisha
|
5,218,676,165
|
2010
|
10
|
2628
|
Metropolitan
|
5,058,769,436
|
2010
|
11
|
2299
|
Kenya Bankers
|
5,020,885,142
|
2011
|
12
|
2641
|
Gusii Mwalimu
|
4,847,710,969
|
2010
|
13
|
2349
|
Bandari
|
4,495,868,134
|
2010
|
14
|
1946
|
Magereza
|
4,321,807,965
|
2012
|
15
|
2738
|
Kateco
|
4,199,261,042
|
2010
|
16
|
1991
|
Hazina
|
3,574,790,356
|
2011
|
17
|
2567
|
Nyeri Teachers
|
3,556,870,000
|
2010
|
18
|
2549
|
Boresha
|
3,398,554,000
|
2010
|
19
|
2255
|
Kilifi Teachers Society
|
2,907,396,670
|
2010
|
20
|
2102
|
Sheria
|
2,835,831,928
|
2010
|
21
|
4107
|
Bingwa
|
2,713,222,082
|
2010
|
22
|
2648
|
Mentor
|
2,685,943,000
|
2010
|
23
|
2406
|
Nacico
|
2,564,895,649
|
2010
|
24
|
6825
|
Solution
|
2,491,503,000
|
2011
|
25
|
2675
|
Cosmopolitan
|
2,332,995,565
|
2010
|
26
|
2275
|
K-Unity
|
2,283,613,742
|
2010
|
27
|
2559
|
Tower Limited
|
2,273,321,899
|
2010
|
28
|
3302
|
Waumini
|
2,130,630,266
|
2011
|
29
|
4536
|
Kitui Teachers
|
2,120,640,901
|
2010
|
30
|
2494
|
Muhigia
|
2,055,145,270
|
2010
|
31
|
1781
|
Masaku Teachers
|
1,926,102,940
|
2014
|
32
|
2869
|
Ndege Chai
|
1,919,157,604
|
2010
|
33
|
1726
|
Mombasa Port
|
1,853,300,993
|
2010
|
34
|
2633
|
Winas
|
1,845,123,982
|
2010
|
35
|
2044
|
Jamii
|
1,802,016,744
|
2010
|
36
|
2466
|
Chuna
|
1,740,316,115
|
2011
|
37
|
6826
|
Tharaka Nithi Teachers
|
1,709,492,212
|
2010
|
38
|
10672
|
Capital
|
1,706,782,290
|
2014
|
39
|
2077
|
Asili
|
1,577,396,176
|
2010
|
40
|
8315
|
Taifa
|
1,560,211,645
|
2010
|
41
|
6366
|
Yetu
|
1,560,105,754
|
2010
|
42
|
9510
|
Safaricom
|
1,535,197,310
|
2010
|
43
|
2169
|
Chai
|
1,533,892,016
|
2010
|
44
|
8056
|
Murata
|
1,530,024,161
|
2011
|
45
|
6336
|
Kenya Highlands
|
1,529,676,992
|
2010
|
46
|
2248
|
Maisha Bora
|
1,504,251,618
|
2012
|
47
|
6919
|
Naku
|
1,497,683,660
|
2011
|
48
|
3468
|
Kenpipe
|
1,461,652,952
|
2010
|
49
|
2314
|
Egerton University
|
1,421,550,409
|
2012
|
50
|
2658
|
Laikipia Teachers
|
1,418,029,214
|
2013
|
51
|
8379
|
Fortune
|
1,338,077,790
|
2011
|
52
|
2085
|
Ufundi
|
1,308,202,152
|
2014
|
53
|
2001
|
Ardhi
|
1,302,008,254
|
2014
|
54
|
2876
|
Bungoma Teachers
|
1,246,199,150
|
2010
|
55
|
2700
|
Wanandege
|
1,179,389,848
|
2010
|
56
|
4319
|
Moi University
|
1,179,360,610
|
2014
|
57
|
2483
|
Kenversity
|
1,101,343,095
|
2012
|
58
|
2185
|
Sukari
|
1,083,476,171
|
2011
|
59
|
6433
|
Wakenya Pamoja
|
1,061,675,951
|
2010
|
60
|
2624
|
Wareng Teachers
|
1,018,548,817
|
2010
|
61
|
1872
|
Teleposta
|
991,994,983
|
2014
|
62
|
6447
|
Tai
|
987,301,386
|
2010
|
63
|
3110
|
Wanaanga
|
986,763,398
|
2011
|
64
|
6894
|
Nawiri
|
977,847,028
|
2013
|
65
|
6531
|
Wananchi
|
966,246,899
|
2010
|
66
|
6070
|
Nassefu
|
937,057,088
|
2012
|
67
|
2022
|
Tembo
|
926,294,645
|
2011
|
68
|
2386
|
Nation
|
925,307,025
|
2010
|
69
|
2523
|
Taita Taveta Teachers
|
900,963,259
|
2011
|
70
|
2678
|
Simba Chai
|
826,215,131
|
2010
|
71
|
1834
|
Jitegemee
|
804,224,356
|
2014
|
72
|
10541
|
Ukristo Na Ufanisi
|
797,530,791
|
2013
|
73
|
3047
|
Mwito
|
791,949,383
|
2010
|
74
|
1615
|
Kenya Canners
|
776,956,175
|
2010
|
75
|
2757
|
Kite
|
745,147,800
|
2010
|
76
|
7178
|
Meru South Farmers
|
712,324,012
|
2010
|
77
|
7590
|
Marakwet Teachers
|
682,092,196
|
2011
|
78
|
2660
|
Trans-National Times
|
655,133,441
|
2010
|
79
|
2032
|
Elimu
|
644,751,986
|
2014
|
80
|
2709
|
Nandi Teachers
|
582,432,689
|
2014
|
81
|
2686
|
Comoco
|
578,342,069
|
2010
|
82
|
3626
|
Fundilima
|
554,000,143
|
2012
|
83
|
2690
|
Kapenguria
|
547,926,292
|
2014
|
84
|
2365
|
Transcom
|
542,808,133
|
2014
|
85
|
10020
|
Githunguri Dairy
|
539,617,797
|
2010
|
86
|
2655
|
Busia Teso Teachers
|
538,389,595
|
2012
|
87
|
9208
|
Kingdom
|
537,513,126
|
2010
|
88
|
8012
|
Orient
|
531,894,509
|
2011
|
89
|
2749
|
Narok Teachers
|
518,689,914
|
2010
|
90
|
6267
|
Daima
|
518,288,142
|
2010
|
91
|
6432
|
Biashara
|
509,670,960
|
2010
|
92
|
2484
|
Mombasa Teachers
|
508,533,392
|
2010
|
93
|
7591
|
Keiyo Teachers
|
503,457,856
|
2010
|
94
|
2635
|
Kwale Teachers
|
485,139,452
|
2014
|
95
|
6403
|
Universal Traders
|
467,450,167
|
2010
|
96
|
8721
|
Dimkes
|
455,099,436
|
2012
|
97
|
3109
|
Mo SACCO
|
448,096,784
|
2010
|
98
|
5939
|
Muki
|
425,936,854
|
2014
|
99
|
7315
|
Airports
|
421,339,972
|
2011
|
100
|
2664
|
Magadi
|
409,574,162
|
2010
|
101
|
6570
|
Sot Tea Growers
|
379,226,561
|
2010
|
102
|
2865
|
Taraji
|
370,150,869
|
2010
|
103
|
5014
|
Thamani
|
353,099,500
|
2010
|
104
|
5641
|
Skyline
|
349,333,278
|
2010
|
105
|
6780
|
Chepsol
|
335,475,985
|
Not licensed
|
106
|
5932
|
Bureti
|
330,498,865
|
2010
|
107
|
2795
|
Marsabit Teachers
|
327,613,497
|
2012
|
108
|
1920
|
Chemelil
|
320,889,783
|
2010
|
109
|
6977
|
2NK
|
318,211,920
|
2014
|
110
|
8843
|
Kenya Achievas
|
315,227,537
|
2010
|
111
|
5459
|
Vision Point
|
303,912,100
|
2010
|
112
|
6179
|
Maseno University
|
302,568,124
|
Not licensed
|
113
|
2747
|
Nafaka
|
294,804,571
|
2012
|
114
|
6228
|
County
|
292,387,777
|
2012
|
115
|
4918
|
Dhabiti
|
288,725,258
|
2011
|
116
|
6749
|
Ndetika Rural
|
288,568,432
|
2013
|
117
|
6721
|
Migori Teachers
|
285,601,339
|
Not licensed
|
118
|
2563
|
Reli
|
271,849,926
|
Not licensed
|
119
|
7497
|
Mwingi Mwalimu
|
259,741,830
|
2014
|
120
|
6679
|
Mwea Rice Farmers
|
242,665,216
|
2014
|
121
|
7320
|
MMH
|
237,418,055
|
2010
|
122
|
7593
|
Nyamira Tea Farmers
|
235,454,196
|
2010
|
123
|
5988
|
Baraka
|
233,666,365
|
2010
|
124
|
10068
|
Centenary
|
229,930,201
|
2010
|
125
|
3363
|
Puan
|
227,918,485
|
2013
|
126
|
2511
|
Isiolo Teachers
|
209,736,289
|
2013
|
127
|
3983
|
KMFRI
|
201,808,052
|
2010
|
128
|
9233
|
Ntiminyakiru
|
201,808,052
|
2011
|
129
|
3248
|
Samburu Teachers
|
200,556,148
|
2013
|
130
|
2843
|
Methodist
|
197,594,596
|
Not licensed
|
131
|
10243
|
Wevarsity
|
197,594,596
|
2014
|
132
|
6061
|
Nandi Hekima
|
190,272,793
|
2010
|
133
|
6864
|
Times U
|
190,219,424
|
2012
|
134
|
2033
|
Imenti
|
180,240,475
|
2011
|
135
|
6569
|
Konoin
|
176,883,461
|
2010
|
136
|
10226
|
Wakulima Commercial
|
176,791,538
|
2010
|
137
|
2626
|
Lamu Teachers
|
175,382,892
|
2014
|
138
|
7221
|
Kuria Teachers
|
175,187,721
|
2011
|
139
|
10624
|
Vision Africa
|
173,453,487
|
2014
|
140
|
6917
|
Nyambene Arimi
|
172,034,303
|
2011
|
141
|
3176
|
Kerenga
|
169,300,137
|
Not licensed
|
142
|
5676
|
Tenhos
|
156,203,123
|
2010
|
143
|
5142
|
Supa
|
152,079,439
|
2012
|
144
|
9141
|
Bondo Teachers
|
141,299,254
|
Not licensed
|
145
|
2196
|
Ndosha
|
140,464,648
|
2011
|
146
|
3350
|
Washa
|
140,446,374
|
2011
|
147
|
4830
|
Mudete Tea Growers
|
138,359,876
|
2012
|
148
|
2467
|
Lengo
|
137,685,846
|
2014
|
149
|
6645
|
Elgon Teachers
|
136,215,974
|
2014
|
150
|
2895
|
Nanyuki Equator
|
133,761,195
|
2014
|
151
|
8320
|
Rachuonyo Teachers
|
133,221,063
|
2014
|
152
|
11933
|
Kenya Midland
|
128,194,115
|
2013
|
153
|
2293
|
Kimute
|
126,517,966
|
Not licensed
|
154
|
2724
|
Tana River Teachers
|
122,718,786
|
Not licensed
|
155
|
7979
|
Siraji
|
121,250,685
|
2011
|
156
|
6172
|
Aberdare Rural
|
119,894,924
|
Not licensed
|
157
|
9302
|
Nandi Farmers
|
116,598,913
|
2014
|
158
|
6128
|
Sotico
|
115,827,616
|
2011
|
159
|
2149
|
Ufanisi
|
115,144,314
|
2013
|
160
|
9231
|
Fariji
|
110,709,949
|
2010
|
161
|
5370
|
Sheraco
|
110,457,582
|
Not licensed
|
162
|
9187
|
Enea
|
109,890,064
|
2011
|
163
|
6387
|
Githongo Majani
|
109,629,757
|
2014
|
164
|
2609
|
Jacaranda
|
108,632,928
|
2014
|
165
|
5937
|
Jijenge
|
108,439,944
|
2011
|
166
|
9111
|
Kiambaa Dairy Rural
|
107,062,118
|
2010
|
167
|
8337
|
Banana Hill Matatu
|
101,933,171
|
2014
|
168
|
7791
|
Suba Teachers
|
101,901,283
|
2014
|
169
|
2735
|
Nzoia
|
93,402,167
|
Not licensed
|
170
|
8333
|
Bonde La Kerio
|
85,703,936
|
Not licensed
|
171
|
9227
|
NGP Bamburi
|
83,080,514
|
Not licensed
|
172
|
6918
|
Trans-Counties
|
79,553,154
|
2014
|
173
|
3829
|
Agro-Chem
|
76,437,620
|
2014
|
174
|
10120
|
Miliki
|
75,214,519
|
2010
|
175
|
2271
|
Nufaika
|
73,450,731
|
2014
|
176
|
11121
|
Nyahururu Umoja
|
71,139,972
|
2013
|
177
|
2310
|
Tupendane
|
69,650,317
|
2014
|
178
|
6302
|
Kipsigis Edis
|
68,870,759
|
2013
|
179
|
4446
|
Baraton
|
65,468,568
|
2014
|
180
|
6180
|
Ogembo Tea Growers
|
62,959,318
|
2014
|
181
|
5749
|
Ainabkoi Farmers
|
61,759,647
|
2014
|
182
|
4615
|
Uchongaji
|
58,661,803
|
2014
|
183
|
2381
|
Koru-Homaline Company
|
56,262,269
|
2014
|
184
|
10474
|
Kolenge Tea
|
55,381,050
|
2014
|
185
|
9709
|
Good Faith
|
55,075,952
|
2014
|
186
|
10737
|
Ilkisonko Rural
|
54,824,653
|
2014
|
187
|
11181
|
Nest
|
50,219,536
|
2014
|
188
|
10897
|
Gastameco
|
46,427,899
|
2014
|
189
|
2031
|
Tuungane Tujijenge
|
41,818,767
|
Not licensed
|
190
|
7460
|
Omoreni
|
38,883,780
|
Not licensed
|
191
|
10633
|
All Churches
|
38,577,162
|
2014
|
192
|
8275
|
Nyando-Kisumu
|
37,935,329
|
Not licensed
|
193
|
3144
|
Flouspar
|
37,252,089
|
Not licensed
|
194
|
9927
|
Kaimosi Tea Growers
|
33,260,489
|
2014
|
195
|
1984
|
Mwendiwega
|
32,417,336
|
Not licensed
|
196
|
8804
|
Vihiga District Tg
|
28,867,563
|
2014
|
197
|
11194
|
Tescom
|
28,321,422
|
2014
|
198
|
10782
|
Nyankoba
|
26,651,182
|
Not licensed
|
199
|
11934
|
Mulot FSA Rural
|
26,239,058
|
2014
|
200
|
4541
|
Rea Vipingo
|
24,126,670
|
Not licensed
|
201
|
8261
|
Kikai Rural
|
20,136,156
|
Not licensed
|
202
|
9241
|
Kinamba Jua-Com
|
19,025,417
|
Not licensed
|
203
|
8982
|
Kiamokama Tg
|
18,871,303
|
Not licensed
|
204
|
10576
|
Rongai Rural
|
18,735,375
|
Not licensed
|
205
|
7057
|
Limuru Traders
|
18,050,721
|
Not licensed
|
206
|
7479
|
Micii Mikuru
|
17,668,386
|
Not licensed
|
207
|
10718
|
Lenga Tumaini
|
15,343,547
|
2011
|
208
|
11434
|
Rubet
|
13,722,288
|
Not licensed
|
209
|
11346
|
Chebosobon
|
10,761,762
|
2014
|
210
|
9026
|
Ihururu
|
8,704,165
|
Not licensed
|
211
|
7896
|
Chesikaki Rural
|
8,674,970
|
Not licensed
|
212
|
11005
|
Nyabiera
|
742,655
|
Not licensed
|
